Corporate Social Responsibility (CSR) refers to a company’s commitment to managing the social, environmental and economic impacts of its activities in a responsible manner, in line with public expectations.
What Is CSR?
CSR is part of a sustainable development approach. The aim of CSR is to improve the experience and quality of life of all the company’s stakeholders (employees, partners, suppliers, customers, etc.).
CSR has several advantages:
- It helps meet legal obligations in certain countries.
- It makes companies more attractive to customers, since the public often favors companies that respect the environment and their social values.
- It attracts new employees and increases their commitment to the company.
How to Set Up a CSR Program?
The steps involved in implementing a CSR program are as follows:
- Appoint someone to be in charge.
- Assess the company’s current environmental, social and economic situation.
- Establish objectives and actions to be taken.
- Present the action plan to stakeholders.
- Follow-up to check whether the initiatives in place are working.
What Are the 3 Pillars of CSR?
The three pillars of CSR are :
- The environmental pillar: reducing greenhouse gases, increasing recycling, sustainable development, etc;
- The social pillar: issues linked to health, education, well-being, respect for human rights, etc;
- The economic pillar: participation in the local economy, transparency towards investors and customers, etc.
The 3 pillars of CSR are often referred to as the triple bottom line or 3Ps : People, Profit and Planet.
What Are Some Examples of CSR Activities?
Examples of CSR activities include :
- Implementing a corporate waste reduction program.
- Implementing initiatives to encourage active transportation or public transit (for example, reimbursing a portion of public transit costs or providing secure storage space for bicycles).
- Choosing suppliers with sustainable practices (use of electric vehicles, for example).
- Providing employees with ergonomic equipment to reduce injuries and postural problems.
- Participating in social inclusion programs.
- Providing financial support for educational programs.