What does corporate social responsibility (CSR) entail?

Corporate social responsibility (CSR) embodies the idea of integrating social and environmental concerns into business operations and their interactions with stakeholders. This approach encourages companies to operate in a way that enhances society and the environment, rather than contributing negatively to them. By adopting CSR, businesses recognize that their operations have broader impacts beyond just financial profitability. This includes considering how their activities affect the community, employees, customers, and the larger ecological landscape.

CSR often involves adhering to ethical practices in various areas, such as sourcing materials sustainably, reducing carbon footprints, ensuring fair labor practices, and being transparent about their operations. This holistic approach reflects a company's commitment to contributing positively to society and the environment, which can enhance its reputation and customer loyalty, ultimately benefiting the business in the long run.