Corporate Social Responsibility (CSR) refers to a company’s commitment to contribute positively to society and the environment while conducting its business.
It involves going beyond making profits to address ethical, social, and environmental issues that matter to employees, customers, communities, and other stakeholders. Key areas of CSR include:
Environmental efforts: Reducing carbon footprint, using sustainable resources, and minimising pollution.
Social responsibility: Supporting local communities, improving employee well-being, and promoting diversity and inclusion.
Ethical business practices: Operating transparently, treating employees fairly, and ensuring fair trade.
Philanthropy: Donating to charities, funding education programs, or supporting disaster relief efforts.
Sustainability, on the other hand, focuses specifically on ensuring that a company operates in a way that meets present needs without compromising the ability of future generations to meet theirs.
It emphasises balancing economic growth, environmental care, and social well-being.
Key aspects of sustainability include:
Environmental sustainability: Protecting natural resources by reducing waste, conserving energy, and adopting renewable energy sources.
Economic sustainability: Ensuring long-term business success without exploiting resources or harming communities.
Social sustainability: Supporting fair labour practices, community development, and equitable resource access.
In summary, CSR is about a company’s broader responsibilities to society, while sustainability is specifically about balancing environmental, social, and economic goals for long-term impact. Both are essential for creating a positive and responsible corporate image.
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