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Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.
Reducing pollution, waste, natural resource consumption, and emissions through its manufacturing process.
Recycling goods and materials throughout its processes, including promoting re-use practices with its customers.
Offsetting negative impacts by replenishing natural resources or supporting causes that can help neutralize the company’s impact. For example, a manufacturer that defor trees may commit to planting the same amount or more.
Distributing goods consciously by choosing methods that have the least impact on emissions and pollution. Creating product lines that enhance these values. For example, a company that offers a gas lawnmower may design an electric lawnmower.
Fair treatment across all types of customers regardless of age, race, culture, or sexual orientation.
Positive treatment of all employees including favorable pay and benefits in excess of mandated minimums. This includes fair employment consideration for all individuals regardless of personal differences.
Expansion of vendor use to utilize different suppliers of different races, genders, veteran statuses, or economic statuses.
Honest disclosure of operating concerns to investors in a timely and respectful manner.
Though not always mandated, a company may choose to manage its relationship with external stakeholders beyond what is legally required.
Whether a company donates profit to charities or causes it believes in.
Whether a company enters into transactions only with suppliers or vendors that align with the company philanthropically.
Whether a company supports employee philanthropic endeavors through time off or matching contributions.
Whether a company sponsors fundraising events or has a presence in the community.
Research and development for new products that encourage sustainability.
Recruiting different types of talent to ensure a diverse workforce.
Initiatives that train employees on DEl, social awareness, or environmental concerns.
Processes that might be more expensive but yield greater CSR results.
Ensuring transparent and timely financial reporting including external audits.
