From Corporate Social Responsibility to Corporate Sustainability

Moving the Agenda Forward in Asia and the Pacific

image of From Corporate Social Responsibility to Corporate Sustainability
This publication looks at recent developments in corporate social responsibility (CSR) with particular attention to the growing role of impact investment and the need for greater convergence of global CSR instruments and provides recommendations to policymakers to enhance the adoption of CSR as an integral part of business strategy and operations. Increasingly, companies are adopting sustainable business practices as an integral element of their corporate strategies, going beyond the traditional interpretation of CSR and engage in social or impact investment and/or play active roles in development cooperation, including the provision of disaster relief and humanitarian assistance. Various global CSR instruments and sustainability frameworks, such as the Global Compact, Global Reporting Initiative and ISO 26000, have been in existence for some time and have been increasingly adopted by many companies, usually the bigger transnational corporations (TNCs).



Introduction: Setting the stage

The concept of corporate social responsibility (CSR) has evolved. This was clear when the United Nations convened the United Nations Conference on Sustainable Development (Rio+20) in Rio de Janeiro in June 2012. The outcome document, “The future we want” makes references to the role of the private sector in promoting inclusive and sustainable development in various paragraphs. For instance, paragraph 46 states


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