From Charity to Creating Shared Value: Rethinking CSR in Trinidad & Tobago
The Current State of CSR in Trinidad & Tobago
It is news to no one that Trinidad & Tobago currently faces a convergence of economic, social, and environmental pressures.
No single actor can solve these challenges alone, government, the private sector, NGOs, and individuals all have critical roles to play. The uncomfortable reality, however, is that only a small number of organisations can genuinely claim to be making a meaningful contribution.
This concern was highlighted in the Inter-American Development Bank (IDB) 2017 report,
“Are oil and gas smothering the private sector in Trinidad and Tobago?”
IDB_Group_Country_Strategy_with_Trinidad_and_Tobago_(2016-2019).pdf
which concluded that “the private sector is not up to the challenge of supporting economic growth, creating employment, contributing to government revenues in a significant way or improving the economic welfare of the nation’s citizenry.”
While controversial, the report raises questions that businesses can no longer afford to ignore.
The Evolution of Business Responsibility
“The Business of Business Is Business”
In 1970, economist Milton Friedman famously stated that “the business of business is business,” asserting that a company’s sole responsibility is to increase profits—provided it stays within the rules of the game. Under this view, a company’s obligations are limited to wealth creation, job generation, tax payment, and legal compliance.
This raises a fundamental question: where does Corporate Social Responsibility (CSR) fit?
The World Business Council for Sustainable Development (WBCSD) defines CSR as
“the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.”
(WBCSD)
Philanthropy vs. Strategic CSR
In practice, CSR in Trinidad & Tobago has largely taken a philanthropic form—sponsorships, donations, in-kind support, and employee volunteering. These initiatives can generate goodwill, strengthen stakeholder relationships, and boost employee morale.
However, traditional CSR often results in:
- Short-term, narrowly focused impacts
- Limited scalability
- Low return on investment (ROI) for the business
As a result, CSR budgets are frequently among the first to be reduced during economic downturns. After working with CSR practitioners globally, one recurring challenge is clear: CSR teams are constantly required to justify their existence.
Yet, a growing number of companies are realising that philanthropy alone leaves significant value on the table.
What Is Creating Shared Value (CSV)?
The concept of Creating Shared Value (CSV) was introduced by Michael Porter and Mark Kramer in their 2011 Harvard Business Review article,
“Creating Shared Value: How to Reinvent Capitalism—and Unleash a Wave of Innovation and Growth”
(Harvard Business Review).
CSV is defined as:
“Policies and operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in the communities in which it operates.”
The critical distinction lies in how value is created:
- CSR generates social value first, with business value as an afterthought
- CSV integrates societal challenges directly into core business strategy, operations, and innovation
Case Study: Unilever’s Sustainable Living Plan
Unilever articulates its shared value strategy through its Sustainable Living Plan, which aims to grow the business while decoupling environmental impact from growth and increasing positive social outcomes.
One flagship goal was to help one billion people improve hygiene and sanitation. Through initiatives like Lifebuoy’s global handwashing programme, Unilever reached nearly 500 million people by 2015, while simultaneously driving growth in personal care and hygiene products.
This demonstrates that social impact and commercial success can reinforce each other.
Other companies embedding responsibility into their core strategies include:
Even Walmart has acknowledged this convergence, with CEO Doug McMillon noting that serving customers and society are ultimately inseparable.
Seven Steps to Implementing Creating Shared Value
For businesses in Trinidad & Tobago seeking to move beyond philanthropy, the transition to shared value can begin with the following steps:
- Understand your business’ purpose and values
- Identify the skills, experience, and relationships you can leverage
- Engage key stakeholders to understand expectations and risks
- Identify the societal challenges your business is best positioned to address
- Assess alignment between existing CSR activities and core strategy
- Develop a coherent strategy and implementation plan, including KPIs
- Communicate progress, celebrate success, and acknowledge failure
Creating shared value is not a quick fix—it is a long-term investment in business resilience, career growth, community wellbeing, and national development.
Why This Matters for Trinidad & Tobago
There is a growing body of evidence linking strong environmental, social, and governance (ESG) performance to financial outperformance. A landmark meta-study of over 2,000 empirical studies confirmed a positive correlation between ESG practices and financial results
(Journal of Sustainable Finance & Investment).
For investors, policymakers, and citizens alike, the implication is clear:
businesses that help solve societal challenges are better positioned to thrive.
About the Author
Kyle Santos, Trinidadian by birth, has over a decade of experience helping businesses understand their social and environmental relevance and implement Creating Shared Value strategies.
Prior to founding Kyle Santos Consulting, he spent eight years with PwC UK, working in sustainability, climate change advisory, and global corporate responsibility roles.
🔗 LinkedIn: Kyle Santos
📧 Email: ksantos@kylesantosconsulting.com