CSR, its relationship and responsibility to sustainabilityBy :Vishal Verma (12609207)Humayun Rais ( 12609211)Asheesh Goel(12609120)

It is about the integration of social, environmental, and economic considerations into the decision-making structures and processes of business

It is about engaging shareholders and other stakeholders and collaborating with them to more effectively manage potential risks and build credibility and trust in society

Not only complying with the law in a due diligent way but also about taking account of societys needs and finding more effective ways to satisfy existing and anticipated demands in order to build more sustainable businesses

Corporate Social Responsibility

Benefits of CSRStronger Financial Performance and Profitabilityoperational efficiencies can be achieved through reducing energy and materials as input factors for productionEnhanced Employee Relations, Productivity and Innovationincreasing the commitment and motivation of employees to become more innovative and productiveImproved Reputation and Brandinghelps a company to position itself in the marketplace as a company that is more responsible and more sustainable than its competitorsStronger Relations Within Communities Through Stakeholder Engagementthe way that a company engages, involves, and collaborates with its stakeholders including shareholders, employees, debtholders, suppliers, customers, communities, non-governmental organizations, and governments

meeting the needs of the present without compromising the ability of future generations to meet their needs

an organizations activities, that demonstrate the inclusion of social and environmental concerns in business operations and in interactions with stakeholders

creating long-term consumer and employee value by not only creating a "green" strategy aimed towards the natural environment, but taking into consideration every dimension of how a business operates in the social, cultural, and economic environment.

also formulating strategies to build a company that fosters longevity through transparencyand proper employee development.Sustainability

Sustainable development rests on 3 fundamental pillars :

Relation between CSR & Sustainable DevelopmentCSR an integral part of sustainable development

The basic idea to incorporate the sustainability aspect into business management should be grounded in the ethical belief of give and take to maintain a successful company in the long-term

CSR is to be used as social strand of the Sustainable Development concept which is mainly built on a sound stakeholder approach.

In 2000, IBM looked at their water usage at plants (US)and set a goal for savings. Eight years later, water initiatives in the microelectronics manufacturing operations achieved a 2.4 percent savings rate, translating to a savings of 1,214 thousand cubic meters (TCM) of water

reduced the number of its distribution points from 100 to 40, lowering costs by 23 percent and reducing carbon dioxide emissions by 15 percent, which equates to 100,000 tons per year