Born in Bangor, North Wales, Geoffrey Heal has lived on three continents and combines a life-long interest in nature with a fascination with the details of how societies work. He is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Columbia Business School. His research and practical experiences range from technical aspects of financial markets to understanding the economic consequences of species extinction, and one of his main concerns is the effect that societies have on their natural resource bases. A past president of the Association of Environmental and Resource Economists and a director of the union of Concerned Scientists, Heal is the author of many scientific articles and books, including Valuing the Future: Economic Theory and Sustainability and Nature and the Marketplace.

• Preface 1. Introduction 2. Social, Environmental, and Financial Performance 3. Socially Responsible Investment 4. Fincancial Institutions and Social and Environmental Factors 5. Pharmaceuticals and Corporate Responsibility 6. Wal-Mart and Starbucks 7. Interface and Monsanto 8. Outsourcing 9. Getting Rich by Selling to the Poor 10. Cell Phones and Development 11. Measuring Corporate Responsibility 12. Social and Environmental Policies and Corporate Strategy 13. Conclusions Notes Index

Geoffrey Heal's scholarly work on environmental economics, the role of the state in economic life, and other contributions to economic analysis have been of great importance and wide reputation. He has now prepared a widely accessible yet careful and responsible study of the extent to which corporations can profit by adherence to socially valuable norms. The exposition makes no assumption of specialized knowledge yet fully reflects and imparts the soundest economic analysis. -- Ken Arrow, Stanford University When Principles Pay is a must read for anyone wanting to understand the corporate world's involvement in environmental and social issues. Geoffrey Heal argues convincingly that the corporation's long term self interest requires that it pay attention to the environmental and social impacts of its operation. Heal makes the argument that the involvement in the world of sustainability is no longer a question of if, but when. One will find his discussion of outsourcing enlightening. -- Alan Hassenfeld, chairman of the board, Hasbro, Inc. Among this book's strengths is its timeliness: CSR and corporate behavior are very much in the forefront of popular and policy attention. Also, by resting the discussion on a solid economic foundation, the author helps the reader understand what CSR is and why it occurs. When Principles Pay is accessible and understandable to a reader even with no background in economics or finance. -- Robert Repetto, Yale School of Forestry and Environmental Studies With clarity and insight, Geoffrey Heal writes a refreshingly jargon-free treatment of CSR. I found his volume a pleasure to read, and though it will be of interest to a wide range of readers, I recommend it particularly to corporate executives and their non-executive directors, who will find it well worth their while. -- Lord Ronald Oxburgh, former Chairman of The Shell Transport and Trading Company, and member of the House of Lords, UK Readers conversant in economics will find a wealth of fascinating analysis. Publishers Weekly

Born in Bangor, North Wales, Geoffrey Heal has lived on three continents and combines a life-long interest in nature with a fascination with the details of how societies work. He is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Columbia Business School. His research and practical experiences range from technical aspects of financial markets to understanding the economic consequences of species extinction, and one of his main concerns is the effect that societies have on their natural resource bases. A past president of the Association of Environmental and Resource Economists and a director of the union of Concerned Scientists, Heal is the author of many scientific articles and books, including Valuing the Future: Economic Theory and Sustainability and Nature and the Marketplace.

• Preface 1. Introduction 2. Social, Environmental, and Financial Performance 3. Socially Responsible Investment 4. Fincancial Institutions and Social and Environmental Factors 5. Pharmaceuticals and Corporate Responsibility 6. Wal-Mart and Starbucks 7. Interface and Monsanto 8. Outsourcing 9. Getting Rich by Selling to the Poor 10. Cell Phones and Development 11. Measuring Corporate Responsibility 12. Social and Environmental Policies and Corporate Strategy 13. Conclusions Notes Index

Geoffrey Heal's scholarly work on environmental economics, the role of the state in economic life, and other contributions to economic analysis have been of great importance and wide reputation. He has now prepared a widely accessible yet careful and responsible study of the extent to which corporations can profit by adherence to socially valuable norms. The exposition makes no assumption of specialized knowledge yet fully reflects and imparts the soundest economic analysis. -- Ken Arrow, Stanford University When Principles Pay is a must read for anyone wanting to understand the corporate world's involvement in environmental and social issues. Geoffrey Heal argues convincingly that the corporation's long term self interest requires that it pay attention to the environmental and social impacts of its operation. Heal makes the argument that the involvement in the world of sustainability is no longer a question of if, but when. One will find his discussion of outsourcing enlightening. -- Alan Hassenfeld, chairman of the board, Hasbro, Inc. Among this book's strengths is its timeliness: CSR and corporate behavior are very much in the forefront of popular and policy attention. Also, by resting the discussion on a solid economic foundation, the author helps the reader understand what CSR is and why it occurs. When Principles Pay is accessible and understandable to a reader even with no background in economics or finance. -- Robert Repetto, Yale School of Forestry and Environmental Studies With clarity and insight, Geoffrey Heal writes a refreshingly jargon-free treatment of CSR. I found his volume a pleasure to read, and though it will be of interest to a wide range of readers, I recommend it particularly to corporate executives and their non-executive directors, who will find it well worth their while. -- Lord Ronald Oxburgh, former Chairman of The Shell Transport and Trading Company, and member of the House of Lords, UK Readers conversant in economics will find a wealth of fascinating analysis. Publishers Weekly

Born in Bangor, North Wales, Geoffrey Heal has lived on three continents and combines a life-long interest in nature with a fascination with the details of how societies work. He is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Columbia Business School. His research and practical experiences range from technical aspects of financial markets to understanding the economic consequences of species extinction, and one of his main concerns is the effect that societies have on their natural resource bases. A past president of the Association of Environmental and Resource Economists and a director of the union of Concerned Scientists, Heal is the author of many scientific articles and books, including Valuing the Future: Economic Theory and Sustainability and Nature and the Marketplace.

• Preface 1. Introduction 2. Social, Environmental, and Financial Performance 3. Socially Responsible Investment 4. Fincancial Institutions and Social and Environmental Factors 5. Pharmaceuticals and Corporate Responsibility 6. Wal-Mart and Starbucks 7. Interface and Monsanto 8. Outsourcing 9. Getting Rich by Selling to the Poor 10. Cell Phones and Development 11. Measuring Corporate Responsibility 12. Social and Environmental Policies and Corporate Strategy 13. Conclusions Notes Index

Geoffrey Heal's scholarly work on environmental economics, the role of the state in economic life, and other contributions to economic analysis have been of great importance and wide reputation. He has now prepared a widely accessible yet careful and responsible study of the extent to which corporations can profit by adherence to socially valuable norms. The exposition makes no assumption of specialized knowledge yet fully reflects and imparts the soundest economic analysis. -- Ken Arrow, Stanford University When Principles Pay is a must read for anyone wanting to understand the corporate world's involvement in environmental and social issues. Geoffrey Heal argues convincingly that the corporation's long term self interest requires that it pay attention to the environmental and social impacts of its operation. Heal makes the argument that the involvement in the world of sustainability is no longer a question of if, but when. One will find his discussion of outsourcing enlightening. -- Alan Hassenfeld, chairman of the board, Hasbro, Inc. Among this book's strengths is its timeliness: CSR and corporate behavior are very much in the forefront of popular and policy attention. Also, by resting the discussion on a solid economic foundation, the author helps the reader understand what CSR is and why it occurs. When Principles Pay is accessible and understandable to a reader even with no background in economics or finance. -- Robert Repetto, Yale School of Forestry and Environmental Studies With clarity and insight, Geoffrey Heal writes a refreshingly jargon-free treatment of CSR. I found his volume a pleasure to read, and though it will be of interest to a wide range of readers, I recommend it particularly to corporate executives and their non-executive directors, who will find it well worth their while. -- Lord Ronald Oxburgh, former Chairman of The Shell Transport and Trading Company, and member of the House of Lords, UK Readers conversant in economics will find a wealth of fascinating analysis. Publishers Weekly