What is Corporate Social Responsibility (CSR) activity?
Corporate Social Responsibility (CSR) activities are self-regulated actions that a business can take in order to be more socially accountable to its stakeholders and the public in general.
Taking CSR activities seriously means that a company is acting in ways that are beneficial to society and the environment at large, rather than practicing destructive behaviors and actions.
What to consider when doing CSR activities?
Investors, customers and employees are increasingly looking for companies that operate responsibly and the market favors companies practicing CSR activities.
Social responsibility challenges the old notion that a business should put profit above all else, however, companies practicing CSR activities have taken the initiative to make sure that the environment and society as a whole come first when making decisions.
How to measure CSR activities?
The EcoVadis Scorecard is a great way to begin measuring CSR activities.
Using the EcoVadis rating methodology, companies can have a detailed layout of their rating, showing market positioning, operational cost savings and better anticipation of management and risk.
CSR activities examples
Examples of CSR activities are:
- Charitable giving
- Fair-trade practices
- Reducing carbon footprints
- Environmental responsibility
- Supporting sustainable legislation
- Diversity, equality, and inclusion
- Socially and environmentally conscious investments
- Corporate social responsibility is a self-regulating business model that allows companies to be more accountable to themselves, stakeholders and the public
- The EcoVadis methodology makes CSR activities easier than ever to track, record and deliver improvement
- CSR activities can bring operational cost savings, increased customer loyalty and a stronger brand reputation to companies
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