A Review of Contribution of Green Marketing to Fulfill Corporate Social Responsibility.

Abstract

Green marketing is defined as efforts of companies to innovate in products, production processes, packaging modifications to minimize the environmental impact. Performing theoretical studies on how green marketing is implemented as initiatives to fulfil CSR, assessing green marketing strategies implemented by selected private sectorial companies in Sri Lanka were the objectives of the study. Archival method enabled the researcher to build up a conceptual framework based on the literature review. More than fifty research publications relevant to the study were employed. Top ten corporate citizens of 2020 selected by Ceylon Chamber of Commerce was selected via purposive sampling and content analysis was used to determine green marketing practices followed by these selected companies. As a whole, this study recognizes the importance of green marketing to fulfil CSR goals. As Green products developed by the selected companies, incorporating ESG (Environmental, Social, Governance) concerns to lending activities and firms involving in agriculture, supporting organic growers who supply raw materials in production processes, partnering with Governmental, International organizations in company’s journey of sustainability, in hotel industry LEED (Leadership in Energy and Environmental Design) certified hotels where economic development coexists with environmental and social sustainability. As Green Internal processes, strategies to reduce water consumption, energy consumption, fuel consumption and solid waste management were prioritized. As Green Philanthropy, waste management programs initiated at schools, reforestation, marine conservation, mangrove restoration, beach clean-up programs with staff and external parties were followed by the selected companies. Green product development, Green internal processes, Green Philanthropy are the key aspects of green marketing to achieve Green CSR. This review brings out how selected companies have followed numerous green marketing practices to achieve green CSR. Moreover, emphasizes the significance of prioritization of Green CSR through green marketing strategies over philanthropic CSR. Further studies can be conducted on impact of Green CSR on company’s performance.