Corporate social responsibility
Corporate social responsibility is the voluntary commitment by companies to implement social and environmental considerations in their business operations. This is beyond the usual legal, regulatory, and contractual obligations and compliance which companies are expected to adhere to. Corporate social responsibility actions will go towards complimenting the state actions calling for social and environmental development.
The World Bank defines corporate social responsibility as “the commitment of business to contribute to sustainable development working with employees, their families, local communities, and society at large to improve their quality of life that are both good for business. and good for development”.