Corporate environmental responsibility : Is a common CSR framework possible?

Abstract

The goal of this paper is to present, to some extent, current practices and approaches to environmental aspects of Corporate Social Responsibility (CSR), and propose concrete steps that could allow on creating a global commonly accepted CSR framework. The environmental aspect of CSR is defined as the duty to cover the environmental implications of the company's operations, products and facilities; eliminate waste and emissions; maximize the efficiency and productivity of its resources; and minimize practices that might adversely affect the enjoyment of the country's resources by future generations. In the emerging global economy, where the Internet, the news media and the information revolution shine light on business practices around the world, companies are more frequently judged on the basis of their environmental stewardship. Partners in business and consumers want to know what is inside a company. The paper contends that this transparency of business practices means that for many companies, CSR is no longer a luxury but a requirement.