CSR The concept of corporate social responsibility (CSR) has since the mid-1990s, gained renewed force in public and political debates, about the social responsibility of firms following the advent of transnational trade and the growth of multinational corporations (MNC).[1] This rekindled interest in CSR and its relevance can be attributed to the effect of globalisation, which introduces a more complex economic paradigm

1. The concept of corporate social responsibility (CSR) has since the mid-1990s,
gained renewed force in public and political debates, about the social
responsibility of firms following the advent of transnational trade and the
growth of multinational corporations (MNC).[1] This rekindled interest in CSR
and its relevance can be attributed to the effect of globalisation, which
introduces a more complex economic paradigm
The evolving global business environment creates moral burdens and social
obligations on businesses in their corporate relations with the various
stakeholders who are either directly or indirectly affected or have interest in
their business operations.[3] Besides adhering to the laws of the state, these
business entities are expected to fulfil social expectations by way of giving back
to the society, part of the benefits they derive from the society within which
they operate. What is most critical in today’s corporate governance is the
articulation of these social obligations in terms of what is defined today as
‘Corporate Social Responsibility

2. • The idea of CSR presupposes a mutual relationship between businesses,
stakeholders and the society.[5] Sadly, most businesses interpret this
concept more as gratuitous and voluntary undertakings borne out of their
goodwill and not as a duty predicated on any legal obligation. Others use
CSR as a tool for enhancing their corporate image and advertisement;
presenting impressive scorecards and cosmetic impression of good
neighbourliness without conforming to ethical standards.
• While the early conception of CSR was less problematic because the actors
were relatively limited to shareholders and their customers, modern CSR
tend to be more ambiguous in scope and hence, problematic. This is owing
to the gradual departure from the traditional view of CSR from the
shareholder-centred perspective[6] to a more complex concept which
integrates more stakeholders and other incidental issues like labour, human
rights, bribery, ant-corruption and environmental matters within the scope
of CSR.

3. • Interestingly, different laws regulate most of these interrelated issues,
which have been integrated into CSR, thereby begging the question as
to the very scope of CSR. The widened scope also creates some
uncertainties on the mechanisms for implementation of CSR
principles, in the light of its non-regulatory and voluntary nature, with
particular reference to the EU Directive 2014/95 on Non-financial
reports of certain large organisations/Undertakings.[7] In discussing
the above statement, this work shall objectively analyse the following
issues raised:
• Is the scope of CSR unclear and not amenable to a legal framework?
• Can the Directive 2014/EU be effectively implemented?
• Is CSR nothing more than window dressing?

4. MEANING AND SCOPE OF CSR
• The most fundamental question about CSR bothers on the true
meaning.[8] Although the term is widely invoked, it is seldom defined,
and many of the ways in which it is actually used are either vacuous
or ambiguous.[9] As a result, even when the intentions of CSR
advocates have been good, their recommendations have often been
damaging.[10] CSR is a wide concept with a variety of meanings.[11]

5. • Mohr, [12] groups the definitions into multidimensional and the
concept of social marketing. He posits that multidimensional
definitions describe the major responsibilities of companies while
social marketing concept defines CSR at a more theoretical
level.[13] Kotler[14] simplifies this view, as he aptly explains that the
social marketing concept relates to positive impact of businesses on
the society. He stresses that businesses should be carried out in a way
that improves both the customer and society’s wellbeing.[15] This
infers that necessity is laid upon businesses as a matter of obligation,
to carry out their operations in a socially responsible manner to
minimise harm to both humans and the environment, while
responding to the legitimate demands of its stakeholders.[16]