under management in portfolios that use screens linked to ethics, the environment, and corporate social responsibility. It is clear that companies addressing ethical, social, and environmental responsibilities have rapidly growing access to capital that might not otherwise have been available.Based on a two-year study, the World Business Council forSustainable Development has drawn several conclusionsabout the benefits of CSR to companies”•A coherentCSR strategy,basedon integrity, sound valuesanda long- term approach,offers clearbusiness benefitsto companiesandhelps afirm makea positive contributionto society;•A CSR strategy provides businesses with the opportunity toshow their humanface;•Such a strategy requires engagementin opendialogueandcon- structive partnerships with governments atvarious levels, intergovern- mental organizations, non-governmental organizations, other ele- ments of civilsociety and,in particular,local communities;•When implementing a CSR strategy, companiesshouldrecognize and respectlocal andcultural differences, whilemaintaining high andcon- sistent globalstandardsandpolicies; and•Being responsive to local differences meanstaking specific initiatives. 4. Difference between CSR and LAW
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- Spring '14
- Business Ethics, Corporate social responsibility, csr approach