- "Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature..." - "engaging in, with, or supporting professional service volunteering through pro bono programs, community development, administering monetary grants to non-profit organizations for the public benefit, or to conduct ethically oriented business and investment practices."
The role of corporations in environmental justice issues, including corporate social responsibility and accountability.
Sustainability: Sustainability refers to the ability of an organization to operate in a manner that reduces its impact on the environment and society, preserving natural resources for future generations.
Climate change: The changing climate represents one of the most pressing environmental issues of our time. Corporate responsibility requires organizations to understand and mitigate their impact on the environment with regard to climate change.
Carbon footprint: The carbon footprint is a measure of the total amount of greenhouse gas emissions released into the atmosphere as a result of an organization's operations, including energy use, transportation, and manufacturing.
Corporate social responsibility: Corporate social responsibility (CSR) refers to the responsibility of an organization to work towards the betterment of society and contribute to sustainable development.
Environmental impact assessment: An environmental impact assessment (EIA) involves a process of evaluating the potential impact of an organization's activities on the environment and identifying ways to mitigate any negative effects.
Sustainable supply chain management: Sustainable supply chain management involves the optimization of supply chain operations to reduce waste and improve sustainability, including ethical sourcing and responsible production.
Circular economy: The circular economy is an economic model that emphasizes resource efficiency, waste reduction, and the reuse and recycling of materials to minimize environmental impact.
Biodiversity: Biodiversity refers to the variety of all living things on earth, including plants, animals, fungi, and microorganisms. Corporate responsibility requires organizations to understand and mitigate their impact on biodiversity.
Renewable energy: The use of renewable energy sources, such as solar, wind, and hydro, is an important aspect of corporate responsibility with an aim to decrease the reliance on fossil fuels and minimize carbon emissions.
Social justice: Social justice is the concept of fair and equal treatment for all individuals, regardless of their race, gender, socioeconomic status, or other factors. Corporate responsibility requires organizations to work towards social justice by promoting diversity and inclusion, and addressing issues such as inequality and discrimination.
Environmental Sustainability: The practice of taking care of the environment and practicing sustainable environmental practices. It includes reducing carbon emissions, minimizing waste, and using renewable energy sources.
Corporate Social Responsibility (CSR): Companies' obligation to tackle social issues and promote public welfare, such as improving education, healthcare, and eliminating poverty.
Ethical Business Practices: Operating a business in accordance with moral and ethical requirements, business ethics, and complying with industry standards and laws.
Human Rights: Protecting and supporting the human rights of employees, customers, and communities impacted by the business. Respecting human rights involves ensuring fair labor practices, preventing discrimination, and child labor.
Community Development: Improving and helping local communities by providing support, creating job opportunities, and developing a positive impact on the economy.
Supply Chain Management (SCM): Monitoring and ensuring that supply chain activities are ethical, environmentally and socially responsible, and complying with local laws.
Stakeholder Engagement: Involving stakeholders in decision-making processes that affect them, and ensuring that their voice is heard.
Transparency and Accountability: Companies should provide clear and accurate information about their business operations, including environmental and social impacts, to stakeholders.
Environmental Disclosure: Providing information on the impact of business activities on the environment, identifying risks and potential impacts upfront, and implementing environmental management systems.
Philanthropy: Direct investment by companies to promote positive change and make an impact in society through donation, charity events, and sponsorships.
- "While once it was possible to describe CSR as an internal organizational policy or a corporate ethic strategy similar to what is now known today as Environmental, Social, Governance (ESG); that time has passed as various companies have pledged to go beyond that..." - "or have been mandated or incentivized by governments to have a better impact on the surrounding community." - "In addition national and international standards, laws, and business models have been developed to facilitate and incentivize this phenomenon."
- "professional service volunteering through pro bono programs" - "community development" - "administering monetary grants to non-profit organizations" - "conducting ethically oriented business and investment practices"
- "while it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory schemes at regional, national, and international levels."
- "Moreover, scholars and firms are using the term 'creating shared value', an extension of corporate social responsibility, to explain ways of doing business in a socially responsible way while making profits."
- "CSR is generally understood as a strategic initiative that contributes to a brand's reputation." - "social responsibility initiatives must coherently align with and be integrated into a business model to be successful."
- "CSR can contribute to firm profits, particularly if brands voluntarily self-report both the positive and negative outcomes of their endeavors." - "these benefits accrue by increasing positive public relations and high ethical standards to reduce business and legal risk by taking responsibility for corporate actions."
- "some businesses will adopt CSR policies and practices because of the ethical beliefs of senior management" - "the CEO of outdoor-apparel company Patagonia, Inc. argues that harming the environment is ethically objectionable."
- "Proponents argue that corporations increase long-term profits by operating with a CSR perspective."
- "A 2000 study compared existing econometric studies of the relationship between social and financial performance, concluding that the contradictory results of previous studies reporting positive, negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly specified, CSR has a neutral impact on financial outcomes."
- "Critics questioned the 'lofty' and sometimes 'unrealistic expectations' in CSR." - "CSR is merely window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations."
- "political and sociological institutionalists became interested in CSR in the context of theories of globalization, neoliberalism, and late capitalism."