An attempt disguise corporate greed by promoting a company's charitable contributions, said especially of large financial corporations; a public relations strategy aimed at defusing public anger over wanton corporate greed by putting a superficial positive or redeeming social face on the corporation through advertisement of the corporation's charitable contributions.
Goldman Sachs, who accepted $12.9 billion in taxpayer bailout funds in 2008-2009, was getting ready to give its employees bonuses estimated to be worth around $595,000 per employee, but first the company's press team considered a greedwashing program to defray public anger at the firm over the massive bonuses: requiring its top employees to donate a small percentage of their pay to charity each year. Can you feel the love?
by afoxland January 12, 2010