There are few more poignant moments in the life of a business manager than when the chief financial officer announces an across-the-board budget cut. “All departments are being asked to share the burden of these difficult financial times,” the finance chief declares.

These words should come as no surprise in today’s economy. With the most widespread economic crisis since the great depression upon us, brands and retailers are struggling to respond to an uncertain marketplace. Consumer confidence has been shattered and the future is unknown. Prudent executives will understandably keep expenditures in line with revenues as they manage the bottom line. Corporate responsibility programmes will not be spared the budget axe.

At the same time, consumers are demanding more. Companies face a multitude of requests for information on ethics, governance, product safety and working conditions across their supply chains. Increasingly, companies are being asked to take responsibility for conditions down to the raw material level, so clothes retailers need to know about child labour in Uzbekistan’s cotton fields and mobile phone stores have to worry about cobalt mines.

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