ECONOMIC responsibility means that companies prioritize the greater good over maximum profit while making their financial decisions. A company operates in a financially sustainable manner while also impacting the economic well-being of the communities in which it operates. 

Some of the examples of the economic responsibility initiatives include:

• choosing suppliers that use sustainable materials 
• supporting small and local businesses by sourcing services and products locally
• implementing transparent salary systems to address pay disparities based on gender or race
• donating to charitable organizations 
• investing in alternative energy sources
• investing in local communities by contributing to economic development initiatives

Lego is one of the most popular and reputable companies in the world and its mission is not only to help children develop, but also to foster a healthy planet. While performing an incredible amount of sustainable initiatives, the economic responsibility is clearly seen in its commitment to invest $164 million into the Sustainable Materials Center. 

“Rent the Runway” makes high-end apparel affordable and accessible by allowing customers to rent their clothes before choosing to either purchase them or send them back. That way there is no need to be a millionaire to wear expensive brands. The company also offers a membership program with a rotating selection of four outfits at a time.