Corporate Social Responsibility: With Reference to Sustainability Issues

Abstract

Corporate Social Responsibility (CSR) has transitioned from mere philanthropy to a strategic and ethical imperative that influences governance, stakeholder engagement, environmental management, and sustainable business. In light of escalating apprehensions over climate change, biodiversity decline, resource exhaustion, worker exploitation, and inequality, sustainability has emerged as a vital element of business strategy. This article conceptually examines the relationship between CSR and sustainability, outlining the definitional progression of CSR, its principal theoretical underpinnings (stakeholder theory, triple bottom line, legitimacy), and the environmental, social, and economic aspects of sustainable corporate responsibility. It also explores the significance of stakeholder participation, ethical governance, responsible supplier chains, sustainability reporting, and alignment with the Sustainable Development Goals (SDGs). CSR has the potential to yield value through innovation, enhanced reputation, employee engagement, risk reduction, and trust; nevertheless, it faces challenges such as greenwashing, poor measurement, token compliance, and the urgency for immediate profits. The manuscript posits that credible and significant CSR demands alignment with core strategy, accountable governance, rigorous metrics, and public reporting-evolving from charitable deeds to a thorough methodology that addresses consequences for people, the earth, and posterity.