Corporate Social Responsibility (CSR) is a voluntary approach by which companies decide to consider social, environmental and economic issues in their activities and interactions with stakeholders. This includes a variety of practices aimed at promoting respect for human rights, improving working conditions, protecting the environment, supporting local communities and managing relationships with customers and suppliers more ethically.
The primary goal of CSR is to contribute to sustainable development, which encompasses not only economic profitability but also social well-being and environmental protection. Companies may have different reasons for implementing CSR policies: customer or consumer pressure, legal requirements, brand reputation and the belief that businesses have a role to play beyond simply generating profit.
The implementation of CSR can involve initiatives such as reducing carbon footprints, recycling waste, investing in the community through educational or health programs, ensuring fair wages, promoting workplace diversity and advocating for fair business practices.
By integrating CSR into their strategy, companies can enhance their social and environmental role and benefit from various competitive advantages such as improved brand image, customer loyalty, attracting talent motivated by similar values and sometimes tax benefits or regulatory incentives. CSR has become a key element of the identity and strategy of many companies.