Although the term is used frequently, many people wonder what is sustainability and how does it relate to them personally. In the context of an individual sustainability relates to surviving within the environment with the help of adequate food, water, and shelter. Similarly, a corporate entity needs to ensure sustainability to attain its financial goals by developing its corporate social responsibility (CSR) programs.
When someone wishes to know more about the social responsibility of companies, he or she should first understand what social responsibility is. Whenever a person acts ethically on social, environmental, cultural, and economic issues, he or she would be discharging social responsibility. This should come from within a person and should add value to society as a whole.
When one asks what is corporate social responsibility? Well, it is the same action done under the aegis of a company or an organization. It is discharged when a charitable action in terms or money or in kind is undertaken by a corporate entity that benefits society. For instance, a company may provide clothes and shelter for a village surrounding the manufacturing plant or even in a city or a country. Or a company may opt for cash scholarships for bright students or lend a helping hand in saving endangered animals or help in reducing pollution.
As companies mature in CSR they develop environmental, employee and supply chain programs to further sustainability. Their CSR work goes well beyond philanthropy. Engaging in corporate social responsibility benefits both society and the company. The company earns the respect of customers, employees, government, and beneficiaries of their charitable projects.
With governments advocating the importance of social responsibility, both large and small companies are making an effort to fulfill their corporate social responsibilities as a way to protect the environment, treat employees with equity and justice, and pay back to their communities and weaker sections of society in their own unique way.
Many people want to know how to determine how companies are performing in sustainability. CSRHubhas spearheaded a movement to provide corporate social responsibility [CSR] and sustainability ratings of more than 6,500 companies located in 70 countries.
These ratings can be accessed at www.csrhub.com by a simple and free registration process. Interested people can now learn about CSR and sustainability ratings, and compare them. Companies that are interested in fulfilling their corporate social responsibility can gain useful knowledge at this website and learn how they can be rated in future.
Individuals, companies, and other organizations should fulfill their social responsibilities to integrate social, environmental and governance performance with financial performance. Websites such as www.csrhub.com provide crucial data that can be useful for individuals and companies that wish to compare their own efforts with the large database available at this website.