By R. Gurumurthy
Gurumurthy, ex-central banker and a Wharton alum, managed the rupee and forex reserves, government debt and played a key role in drafting India's Financial Stability Reports.
June 21, 2025 at 6:59 AM IST
In the glittering ballrooms of charitable galas, under chandeliers that gleam brighter than the initiatives being honoured, walk some of the most prominent figures in business today. They are champions of corporate social responsibility, or CSR, wearing purpose as proudly as a lapel pin. Their causes are important. Their language is compelling. And yet, sometimes, the picture feels just a little too perfectly lit.
CSR, as a mandate and movement, was a landmark moment. It created a structural pathway for companies to give back to the society they operate in. Many took to it with genuine intent—building schools, empowering artisans, restoring watersheds, and enabling rural health programmes. The results are visible in corners of the country that don’t make the front page.
But like all systems, CSR has also evolved its own ecosystem, where the lines between intention, image, and incentive occasionally blur. Today, for some, CSR does more than just social good; it also performs reputational heavy lifting.
Mandate To Milestone
It is no secret that in some boardrooms, CSR is viewed as a multi-purpose lever: an opportunity to align with broader societal goals and boost institutional credibility. That’s not necessarily wrong. CSR has always been a legal as well as moral commitment. Mutual benefit is part of the design.
What invites closer scrutiny is the growing reliance on optics: polished annual reports, choreographed media events, and evocative hashtags.
It is not uncommon to see a modest intervention—a school visit, a tree plantation drive, a distribution camp, amplified into a personal leadership milestone. Professional bios reflect phrases like “Built a grassroots empowerment initiative” when the actual role may have been limited to overseeing disbursement. “Visionary Leader in Sustainable Impact” often sounds more impressive than “Executive Director, Sales.” Saplings are planted and often forgotten.
That doesn’t imply malice, only that, in some cases, the performative layers of CSR may overshadow its purpose. It is this casual conversion of obligation into personal distinction, often enshrined in self-congratulatory résumés, that rankles most.
In an interconnected world, CSR is not just about doing good; it can also open doors. Support a research initiative, and it might lead to a panel invite. Endow a Chair in “Ethical Innovation,” and your access to academic institutions deepens. Sponsor a sustainability summit, and you are now a speaker on “Transformational Leadership.”
These aren’t necessarily cynical acts. Often, they are born from a genuine desire to contribute to dialogue and thought leadership. But when funding flows closely coincide with high-visibility platforms, it’s reasonable to reflect on where the balance lies between contribution and curation.
CSR Halo
CSR reports today can rival glossy brochures in their design and ambition. “Lives Impacted.” “Smiles Generated.” “Empathy-at-Scale.” Even straightforward efforts, like distributing equipment, may be framed as “enabling micro-enterprise ecosystems” or “transformative livelihood pathways.”
This language isn’t inherently problematic. It reflects ambition, structure, and the evolution of CSR into a professional discipline. But as the vocabulary of impact expands, so does the fog. It’s getting harder to tell what’s grounded in action, what’s a stretch, and what’s simply good storytelling.
What risks being crowded out are the quieter, often less institutionalised forms of giving. Local NGOs or volunteers who don’t make it to reports. Teachers who spend from their own salaries to keep a student in school. Frontline workers who walk miles to deliver services, unsponsored and unsung.
They don’t trend. They don’t brand. As CSR matures, it must be careful not to hog the stage light. Real impact often comes from those who aren’t in the spotlight at all.
Zoom out to the global landscape, and the dynamics of high-profile philanthropy become more complex.
Bill Gates has donated billions, but his foundation’s influence on global health policy has raised eyebrows. Mark Zuckerberg pledged 99% of his shares to a charitable LLC, structured in a way that offers flexibility, along with tax and governance advantages. Jeff Bezos launched the Earth Fund, even as Amazon faces questions around labour practices and environmental impact.
These are complex cases, where generosity, governance, and visibility intersect in ways that continue to prompt both admiration and debate.
These are not condemnations, but they reflect the complex interplay between large-scale philanthropy, public influence, and image management. In a world where doing good is often paired with keynote speeches and awards, intent and outcome can sometimes blur.
In India too, there have been moments of dissonance. Toilets built without plumbing. Digital donations in areas without electricity. Well-meaning programmes launched with limited local consultation. These aren’t failures of intent, but of design and follow-through.
There is also a growing landscape of CSR awards, summits, and visibility platforms. Some are credible. Others, less so. But together, they contribute to the perception of CSR as a means to visibility, not just responsibility.
Quiet Acts
This is not an argument against CSR. Quite the opposite. The law has unlocked billions in giving, enabled professional frameworks, and brought new rigour to the idea of shared value. CSR has raised the bar.
But it must continue to raise the mirror too.
When someone says, “We’ve adopted a village,” it’s fair to ask: how long, and with what metrics? When a company declares, “We’re building a legacy,” it’s important to ask: whose legacy—and funded by whom?
And when outcomes are presented, it is fair to ask whether the impact was primarily social or strategic.
Transparency is not an act of self-defence. It is a sign of respect—to the communities served, and to the cause itself.
Yes, image matters. But it cannot be the only thing that does.
Real giving rarely comes with press kits. From a doctor offering free check-ups to a corporate group funding sanitation with no cameras in sight—quiet giving still thrives. It just doesn’t go viral.
CSR today is at a crossroads. One path leads to deep, sustained, transformative work. The other risks reducing it to a reputational tool. Most efforts fall somewhere in between.
Satire may exaggerate. But its purpose is not to sneer; it is to prompt pause. Not to undermine CSR, but to strengthen it by calling out temptations that come with performance.
Because in the business of doing good, intention matters. But, integrity matters more.
The chandeliers may still shine, but what lasts is the light left behind.