Corporate Social Responsibility is a business model whereby companies make a concerted effort to work in ways that improve, not degrade, society and the environment.
CSR helps to improve various aspects of society, and also contributes to the formation of a positive image of companies.
Corporate responsibility programs are also a great way to boost morale in the workplace.
CSR is often broken down into four categories: environmental impact, ethical responsibility, philanthropy and financial responsibility.
Some examples of companies striving to become leaders in CSR include Starbucks and Ben & Jerry’s.
Environmental, social and governance criteria (ESG) are used to screen investments based on corporate policy and to encourage companies to act responsibly.
Green funds are mutual funds or other types of investment vehicles that promote socially and environmentally conscious policies and business practices.
“Green technologies” or “green technologies” is a general term describing the use of technology and science to reduce human impact on the natural environment.
A social audit is a formal review of a company’s activities, procedures and code of conduct regarding social responsibility and the company’s impact on society.
The United Nations Global Compact is an initiative that global corporations can sign up to promote responsible business practices in the areas of human rights, labour, the environment and the fight against corruption.