Chapter 06 · Governance & regulationGovernance, Ethics & Risk
Corporate social responsibility (CSR)
Definition
Corporate social responsibility is a concept through which companies integrate social and environmental concerns into their business operations and stakeholder relationships on a voluntary basis. Its most cited academic framing is Carroll's pyramid (1979/1991), layering economic, legal, ethical and philanthropic responsibilities; ISO 26000:2010 provides guidance — not certifiable requirements — on social responsibility across seven core subjects.
References
Overview
What it means
The umbrella idea that firms are accountable to society as well as shareholders; its meaning ranges from philanthropy to full integration of sustainability into strategy.
How it is used
CSR appears in corporate reporting, academic research and policy; the field has partly migrated toward the language of ESG, corporate sustainability and mandatory due diligence, which recast voluntary responsibility as investor metrics and legal duties.
Why it matters
CSR is the historical foundation of the business-and-sustainability vocabulary; understanding it is essential to reading how responsibility has shifted from voluntary initiatives to regulated obligations.