Sustainability: “Meeting the needs of the present generation without compromising the ability of future generations to meet their own needs ”
-- Brundtland Commission, 1987
For companies, Sustainability is an opportunity to thrive in perpetuity, while minimizing their environmental footprint Green Is a Source of Cost Savings, Growth, and Innovation
Corporate Social Responsibility (CSR) is a way of doing business that integrates company operations with practices that are socially responsible, benefiting society, helping grow business, and keeping employees motivated. Some of other ways CSR is referred are Corporate Citizenship or just Sustainability. CSR balances environmental, social with economic imperatives. This is also referred to as “triple-bottom-line” (TBL). Using this approach CSR is a way of doing business that not only considers economic benefits, but also social and environmental impacts of the business.
There are several reporting standards available today such as Global Reporting Initiative (GRI), and Carbon Disclosure Project (CDP). Benefits of CSR include:
Companies that adopt CSR practices adopt policies and programs and build a governance structure that integrates responsible practices with business.