Corporate responsibility
Corporate Responsibility
Corporate Social Responsibility (CSR) means that companies take responsibility not only for generating profit, but also for the impact of their decisions and activities on everyone they interact with. This includes employees, customers, suppliers, business partners, local communities, and the environment.
Several terms are commonly used in connection with corporate responsibility, including CSR, sustainability, and, more recently, ESG. Originally developed in the financial sector, ESG refers to the three key dimensions of responsible business: Environmental, Social, and Governance.
Three pillars of corporate responsibility
Environmental (E)
- Greenhouse gas (GHG) emissions
- Energy and resource consumption
- Circular economy and waste management
- Sustainable mobility
- Biodiversity
Social (S)
- Human rights across the value chain
- Fair remuneration and employee benefits
- Employee health and well-being
- Diversity, equity and inclusion (DE&I)
- Corporate philanthropy and employee volunteering
Governance (G)
- Business ethics and anti-corruption
- Board and leadership diversity
- Sustainability reporting and disclosure
- Stakeholder engagement
- Data protection and privacy