Social Responsibility
Stakeholders:
- Customers
- Suppliers
- Investors
- Governments
- Employees (part of business)
Corporate Social Responsibility CSR
Topics:
- Sustainability
- Ecological
- Cultural
- Development
- Business Ethics
- Human Rights
- ESG management
- Stakeholder management
EU rules require large companies to publish regular reports on the social and environmental imports of their activities. https://finance.ec.europa.eu Directive 2022/2464/EU → impacting medium and large companies, not just comporations
Part of the non-financial reporting. Used to be called non-financial reporting, now is called sustainability reporting.
More and more companies need to do that in the future too.
Information in reports:
- environmental matters
- social matters
- treatment of employees
- respect for human rights
- anti-corruption and bribery
- diversity on company boards
Sustainable development is development that meet the needs of the present without compromising the ability of future generations to meet their own needs
& Cro Harlem Brundtland - Rio Summit 1996
Sustainable Development Goals
by United Nations
Business Case for CSR (Caroll 2015)
CSR can help with:
- winning more customers
- relationships with suppliers
- attracting highly qualified workers
- managing risks
- save energy costs (in the long run)
- access to investment and funding opportunities
- business legitimacy and reputation
Circular Economy
Recycling
- reduce waste
- protect the environment
- boost global competition
- sustainability economic growth
- investment opportunities
- generate new jobs
- save energy
- reduce climate change effects