Corporate Social Responsibility (CSR) is the concept that a business has obligations to the society that surrounds it, beyond its duties to its shareholders. CSR is commonly viewed as the means by which a company balances economic, environmental, and social objectives while meeting the expectations of stakeholders and shareholders. Sustainability is included in CSR and entails balancing economic growth, environmental stewardship, and social well-being to satisfy the needs of present generations without sacrificing those of future generations.
The key CSR concerns for businesses include environmental management, eco-efficiency, responsible sourcing, labor standards and working conditions, employee and community relations, social justice, human rights, and corporate governance and anti-corruption measures. CSR and sustainability acknowledge that these issues are frequently interconnected and that addressing them necessitates a systemic approach.
Companies create and implement CSR plans to ensure their operations are both ethical and beneficial to society. Many organizations communicate these efforts to internal and external stakeholders through corporate social responsibility reports.