RJ and Makay

"Creating shared value," the new catch phrase used in corporate circles to describe the seemingly incompatible goals of making money and doing good in the world, was a key topic at the Committee Encouraging Corporate Philanthropy conference. The conference was held in New York on Monday as part of International Corporate Philanthropy Day.

These days, conference attendees agreed, philanthropy is no longer just about donating to charity but about executives making social responsibility a part of doing business. "Once you understand the impact you can have ... then you are on mission, then it becomes spiritual, it becomes part of the DNA of the company," says Bill Green, chairman of Accenture.