Corporate Social Responsability has been defined by the European Commission as “A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.”
Today, this concept is becoming more and more important as the global economy is dealing with sustainable development.
Some principles about CSR
- CSR is the business contribution to sustainable development goals. (UK Department of Trade & Industry)
- CSR addresses social and environmental concerns
- CSR is a voluntary initiative
- All stakeholders are interested in CSR : employees, regulators, suppliers, consumers…
- CSR depends on all employees on knowing their role, learning new standards, and “doing their bit” to minimise negative social and environmental impacts and promoting positive ones.
- It is the International Labour Organization that is responsible for the labour standards and conventions that provide the basis for the Ethical Trading Initiative.
