Social Responsibility Key Terms
What is Social Responsibility?
Social Responsibility is responsibility of an organization for
the impacts of its decisions and activities on society and the environment, through
transparent and ethical behavior that:
- contributes to Sustainable Development, including health and the welfare of society;
- takes into account the expectations of stakeholders;
- is in compliance with applicable law and consistent with international norms of behavior;
- and is integrated throughout the organization and practiced in its relationships.
Ref: ISO 26000:2010 Guidance on social responsibility
What is Sustainable Development?
Sustainable Development is a development that meets the needs of the present
without compromising the ability of future generations to meet their own needs.
Ref: Report of the World Commission on Environment and Development: Our Common Future
What is Corporate Sustainability?
Corporate Sustainability is a business approach that creates long-term
shareholder value by embracing opportunities and managing risks deriving from economic,
environmental and social developments.
Ref: Dow Jones Sustainability Indexes