Formulating your firm's approach to corporate social responsibility—CSR—larger firms
Produced in partnership with Joanna Kennedy of The Zacchaeus 2000 Trust (Z2K)

The following Practice Management practice note produced in partnership with Joanna Kennedy of The Zacchaeus 2000 Trust (Z2K) provides comprehensive and up to date legal information covering:

  • Formulating your firm's approach to corporate social responsibility—CSR—larger firms
  • What is CSR?
  • Quality of the firm's management
  • Wider social responsibility
  • Considering how CSR can help
  • Recruitment and retention of staff
  • Governance and risk management
  • Financial benefits
  • Clients
  • Key staff members
  • More...

Formulating your firm's approach to corporate social responsibility—CSR—larger firms

This Practice Note provides information for larger firms on formulating a corporate social responsibility (CSR) strategy and drafting and implementing a CSR policy. It reviews key issues to consider and highlights tools that could be of assistance. This Practice Note covers:

  1. what CSR is

  2. considering how CSR can help

  3. key staff members

  4. formulating the firm's approach to CSR

  5. formulating the firm's CSR policy

  6. CSR policy precedent

  7. implementing CSR

  8. reviewing the CSR policy

For information about regulatory requirements relevant to CSR, see Practice Note: Corporate social responsibility (CSR)—regulatory requirements.

What is CSR?

CSR is a self-regulating mechanism by which a firm can monitor the effect that it has on economic, social and environmental aspects of society.

CSR is a commitment by a firm to look beyond simply making money, to conduct its business responsibly and to integrate economic, social and environmental concerns into its culture and decision making, thereby establishing better practices within the firm and leading to improvements in the wider society.

There are often two aspects to CSR, both of which can be applicable for larger-sized firms:

  1. the quality of the firm's management, and

  2. the firm's wider social responsibility

Quality of the firm's management

One aspect of CSR commonly involves looking to the quality of a firm's management, in terms of its:

  1. workplace, and

  2. professional service to clients

Wider social responsibility

The second

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