Governance for corporate social responsibility (CSR)
Governance for corporate social responsibility (CSR)

The following In-House Advisor guidance note provides comprehensive and up to date legal information covering:

  • Governance for corporate social responsibility (CSR)
  • What is corporate social responsibility (CSR)?
  • Corporate governance
  • What is corporate social responsibility governance?
  • What are the implications of CSR for boards?
  • What is an in-house lawyer’s role?
  • Taking steps to develop a CSR governance framework

What is corporate social responsibility (CSR)?

CSR is defined as:

  1. a company’s environmental, social and economic performance; and

  2. the impacts of a company on its internal and external stakeholders

Some companies may also refer to CSR as corporate sustainability or corporate responsibility.

Corporate governance

Corporate governance is the system by which companies are directed and controlled. The board of directors is responsible for the governance of their company. The shareholders' role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure (eg accountable and transparent) is in place. The responsibilities of the board include setting the company's strategic aims, providing the leadership to put them into effect, supervising the management of the business and reporting to shareholders on their stewardship. The board's actions are subject to laws, regulations and the shareholders at general meetings.