Corporate social responsibility and sustainable development pdf
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- The relationship between Sustainable Development and Corporate Social Responsibility
- Sustainable development
- CSR Report
This paper intends to offer a comparison between the concepts of corporate social responsibility CSR and social business SB and rationalizes the application of both the ideas as potential ways of accomplishingsustainable development.
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The relationship between Sustainable Development and Corporate Social Responsibility
Corporate social responsibility CSR has become increasingly important as economic globalisation has taken off. In this article, Dr Julie Broussard , country programme manager for the United Nations Women in China Office , and Chia-LinCoispeau , co-founder of Maverlinn Impact Innovation , discuss the role corporations can play in improving their local environment. Responsibility and profitability Corporations play a major role in the economic system.
By generating profits, corporations create value that can be re-invested to create economic development that can positively impact society at large. The concept of CSR has more than one definition and evolves according to the geography and maturity of the market. For some, it is defined as philanthropy with mechanisms for donating when used in times of disaster. For others, CSR is a central pillar of corporate values and strategy. A business engaging in CSR should not be considered a luxury that one might or might not be able to afford.
Corporations that practice CSR and sustainable development need to operate in ways that are respectful to the general population and their surrounding environment. Doing these things successfully requires businesses to pay special attention to product quality and the impact their activities might be having on their community, something that might initially be considered a simple operational cost.
However, not all costs are equal and some corporations have learned that by acting responsibly, they can become more innovative, increase their revenue by producing higher quality products, and reduce costs by making smarter business decisions. CSR and the Sustainable Development Goals Having been the orchestrator of the many challenges humanity now faces, countries around the world are now responsible for finding solutions to these global issues. Corporations need to take action to improve the economy, society as a whole, and the environment.
The way to do so is to innovate. Innovation can uncover new ways to foster societal progress and when it comes to innovation, the private sector has a crucial role by engaging in CSR.
The private sector also has a largely unrecognised role to play in advancing gender equality. Without female empowerment, the world cannot fully eradicate poverty or attain zero hunger. As employers, the private sector can potentially empower millions of female employees and consumers, who often prioritise the well-being of their families.
Additionally, multiple studies have unequivocally demonstrated that companies with a more gender-equal workforce, and women in more leadership positions, are more profitable on average.
In their CSR efforts, companies should not only promote gender equality, but consider the role they can play in promoting all 17 Sustainable Development Goals. In , China supported the development of green financing in five pilot zones Guangdong, Guizhou, Jiangxi, Zhejiang and Xinjiang. These are all important steps in fostering a more sustainable model of economic development.
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Learn how your comment data is processed. Goals for protecting the planet Corporate social responsibility CSR has become increasingly important as economic globalisation has taken off. Leave a Reply Cancel reply Your email address will not be published. It tells the unique story of European business in China, utilising the experience and expertise of the companies and executives that shape China's business landscape.
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Corporate social responsibility CSR has become increasingly important as economic globalisation has taken off. In this article, Dr Julie Broussard , country programme manager for the United Nations Women in China Office , and Chia-LinCoispeau , co-founder of Maverlinn Impact Innovation , discuss the role corporations can play in improving their local environment. Responsibility and profitability Corporations play a major role in the economic system. By generating profits, corporations create value that can be re-invested to create economic development that can positively impact society at large. The concept of CSR has more than one definition and evolves according to the geography and maturity of the market.
Corporate social responsibility CSR and sustainable development are among the core components of our corporate culture. Outlook reminder. Subscribe for company news. You have successfully unsubscribed from Severstal news. Back Back About. Severstal structure. Severstal Resources.
Corporate Social Responsibility and sustainable development. November DOI: / In book: Sustainable.
Section of the companies Act is from financial year This article will explore the role of CSR in attaining sustainable development with reference to section of the Companies Act. Meaning of Corporate Social Development: The term corporate social responsibility is very wide and complex and it has different meanings. Generally, corporate social responsibility means, those activities taken by corporate with aim of welfare of the society.
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CSR and Sustainable Development
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