16
Corporate social
responsibility
In its action plan
2
1
of October 2011, the Eu-
ropean Commission defines corporate social
responsibility (CSR) as “the responsibility of
enterprises for their impacts on society”.
“
Respect for applicable legislation, and for col-
lective agreements between social partners, is
a prerequisite for meeting that responsibility.
To fully meet their corporate social responsi-
bility, enterprises must have in place a process
to integrate social, environmental, ethical, hu-
man rights and consumer concerns into their
business operations and core strategy in close
collaboration with their stakeholders, with the
aim of:
> maximising the creation of shared value for
their owners/shareholders and for their oth-
er stakeholders and society at large;
> identifying, preventing and mitigating their
possible adverse impacts.”
2.
COM(2011) 681 Communication from the Commission to the
European Parliament, the Council, the European Economic and
Social Committee and the Committee of the Regions - A renewed
EU strategy 2011-14 for Corporate Social Responsibility
(
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2
011:0681:
FIN:EN:PDF)
whatdowemean
by corporate social responsibility
andsocially responsiblebanking?
“
Corporate Social
Responsibility (CSR)
is the responsibility
of enterprises for their
impact on society”.
European Commission, October 2011
1.
>
GENERAL INTRODUCTION