What is CSR? Corporate social responsibility (CSR) refers to companies taking responsibility for their impact on society. What is CSR? It is a concept whereby enterprises integrate social and environmental concerns into their mainstream business operations on a voluntary basis.
CSR goes beyond compliance with legislative requirements. It is a voluntary concept, which is led by business. It is a process which maximises the creation of shared value through collaboration with all stakeholders and ensures that the interests of enterprises and the interests of wider society are mutually supportive.
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The Community pillar relates to how businesses interact with community and voluntary organisations in their local communities. Building trust and developing strategic partnerships in the communities businesses operate in is essential to secure long-term sustainability. It can increase staff loyalty, attract new talent whilst making a positive impact on society.
The Workplace pillar is concerned with how a business supports, engages and motivates their employees. It looks at issues such as work-life balance, employee health and wellbeing, diversity and inclusion, organisational culture and volunteering. Motivated and engaged employees are more productive and people prefer to work for employers they can trust.
The Marketplace pillar relates to how an organisation manages its relationship with its customers and suppliers. Buying and selling products or services is intrinsic to business - ensuring this is done in an ethical and sustainable manner is key to a company’s reputation and long-term viability.
Governance & Communications
The governance and communication pillar relates to how businesses support, manage and communicate their responsible and sustainable business practices within their organisations. A fundamental aspect is the involvement of stakeholders in identifying the most material areas that responsible/sustainable activities should address.
The Environment pillar relates to the management of a company’s impact on the environment. Leading businesses know that they have a role to play in managing the world’s resources efficiently and in combating climate change. Sound environmental strategies are essential to the sustainability of a business and can also reduce costs.