Hi, I just learned about the revolutionary topic of CSR. I never knew that companies also contributed hugely to creating a sustainable world for the future, in so many ways. This was an incredible eye-opener for me and I learned about various methods through which I can contribute to this noble cause, in what little way I can.

2. What is CSR?
Corporate Social Responsibility is a business model by which companies make a concerted
effort to operate in ways that enhance rather than degrade society and the environment. CSR can
help improve various aspects of society as well as promote a positive brand image for companies.

3. Why is Corporate Social Responsibility important?
In the past decade, the idea that businesses have a responsibility to contribute to the betterment of
society has expanded greatly. This responsibility is now a priority for companies of all sizes and
industries.
Gone are the days when businesses focused solely on profit.

4. Why is Corporate Social Responsibility important?
➔ For this reason, having a CSR program is
crucial for customer and employee
satisfaction, as well as improving bottom-line
financials and employer branding.
➔ It also puts your company into contact with
your local communities, creating meaningful
opportunities for team building and instilling a
sense of purpose in your workforce.
➔ A company’s commitment to CSR isn’t just
about meeting requirements around corporate
governance. It’s also about standing for
something — and taking action to make a real
difference.
➔ By implementing a CSR strategy, your
company will inspire teams to contribute to
the causes they care about in the name of
your business. This can help enhance
company image, business growth, and —
ultimately — corporate purpose.

5. Types of CSR:
CSR is generally categorized in four ways:
1. Philanthropic responsibility
2. Environmental responsibility
3. Economic responsibility
4. Ethical/Human rights responsibility

6. Philanthropic responsibility
Philanthropic responsibility refers to a corporation’s aims, goals and objectives for actively bettering society as a
whole. One huge aspect of corporate philanthropy is donating money from company earnings to worthy causes
within the local community — often in the form of a trust or foundation. There are several ways in which
businesses can incorporate CSR in the form of philanthropy while engaging employees, including giving schemes
with the potential for donation matching.

7. Environmental responsibility
Environmental responsibility refers to the organization’s commitment to sustainability and environmentally friendly
operations. This can mean reducing the company’s carbon footprint or greenhouse gas emissions, opting for
sustainable resources by avoiding single-use plastics and keeping environmental aspects at the heart of all
operations.
Nestlé Cares Cleanup
To uphold their company value of protecting the planet with environmentally friendly practices, Nestlé Switzerland
organized a volunteer week event centered around corporate environmental responsibility. Their cleanup week
coincided with World Cleanup Day(16 September), and it gave their employees hands-on experience in helping
to protect their local environment and support communities.

8. Economic Responsibility
Economic responsibility refers to the practice of making financial decisions based on a commitment to
doing good. Some common examples of economic responsibility include investing in alternative energy
sources, putting more money into education programs, and funding local charities as a way of bolstering
their mission.
To uphold economic responsibility, business leaders are challenged to think past operational cost savings
and instead put their obligation to corporate citizenship at the heart of all financial decisions.

9. Ethical/Human Rights Responsibility
Ethical responsibility refers to a company’s
commitment to operate their business in an ethical
manner that upholds human rights principles, such
as fair treatment of all stakeholders, fair trade
practices and equal pay.
Glovo Cares Volunteer Week
➔ Equal access to essential goods for everyone
is one of the main pillars of Glovo’s
commitment to serve the community. They
set out to build a volunteer program that
would engage employees in providing
resources to those in need within the
communities where they are located.
➔ By organizing a global volunteer week
initiative at local food banks, they supported
an ethical cause that aligns with their core
business in seven countries and nine cities.
They contributed over 700 volunteered hours
globally

10. What are the benefits of CSR initiatives?
When a company implements a CSR strategy, it helps to:
● Increase employee engagement.
● Support local and global communities.
● Contribute to the United Nations Sustainable Development Goals.
● Refine public image and create positive press.
● Boost customer retention and loyalty.
● Enhance employer branding.