What is Corporate Social Responsibility?
Corporate social responsibility (CSR) refers to companies taking responsibility for their impact on society. It is a concept whereby enterprises integrate social and environmental concerns into their mainstream business operations on a voluntary basis.
CSR goes beyond compliance with legislative requirements. It is a voluntary concept, which is led by business. It is a process which maximises the creation of shared value through collaboration with all stakeholders and ensures that the interests of enterprises and the interests of wider society are mutually supportive.
How we can support you on your CSR
From providing bespoke advice to some of the most progressive multinational and indigenous companies to helping smaller enterprises navigate and understand CSR, we are the trusted advisers on responsible business practices in Ireland.
Explore how we can support you by visiting our Membership Section or please contact our Membership Executive Lorraine O’Toole or call 01- 874 7232.
What is CSR? Corporate social responsibility practices can impact and influence many areas of a business and revolves around five pillars:
Community
The Community pillar relates to how businesses interact with community and voluntary organisations in their local communities. Building trust and developing strategic partnerships in the communities businesses operate in is essential to secure long-term sustainability. It can increase staff loyalty, attract new talent whilst making a positive impact on society.
Workplace
The Workplace pillar is concerned with how a business supports, engages and motivates their employees. It looks at issues such as work-life balance, employee health and wellbeing, diversity and inclusion, organisational culture and volunteering. Motivated and engaged employees are more productive and people prefer to work for employers they can trust.
Marketplace
The Marketplace pillar relates to how an organisation manages its relationship with its customers and suppliers. Buying and selling products or services is intrinsic to business - ensuring this is done in an ethical and sustainable manner is key to a company’s reputation and long-term viability.
Governance & Communications
The governance and communication pillar relates to how businesses support, manage and communicate their responsible and sustainable business practices within their organisations. A fundamental aspect is the involvement of stakeholders in identifying the most material areas that responsible/sustainable activities should address.
Environment
The Environment pillar relates to the management of a company’s impact on the environment. Leading businesses know that they have a role to play in managing the world’s resources efficiently and in combating climate change. Sound environmental strategies are essential to the sustainability of a business and can also reduce costs.