Energy Land Management (ELM)

"Corporate social responsibility (CSR) denotes a philosophy – and a corresponding set of tools –according to which a company acknowledges and manages responsibilities to a wider group of stakeholders than just the providers of capital. [...] CSR has become a global phenomenon which is not only practiced by businesses from all continents but is also promoted by national governments, intergovernmental organizations, and civil society organizations." The regulatory framework is managed through "voluntary commitments" and "soft rather than hard law."

"Corporations most committed to being socially responsible citizens understand their mission; structure; stakeholder relationships; research and development; commodity production, marketing, sales; management, decision making; and all business dynamics as shaped by concern for the public interest. To the “bottom line” of profit, such corporations also seek to respect, protect, and promote the values, or “bottom line,” of people and the planet."

"Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line- Approach”), while at the same time addressing the expectations of shareholders and stakeholders."

The Harvard Kennedy School's Corporate Social Responsibility Initiative defines CSR as "not only what companies do with their profits, but also how they make them. It goes beyond philanthropy and compliance and addresses how companies manage their economic, social, and environmental impacts, as well as their relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm."