14. Standards and Guidelines for Managing Corporate Social Responsibility towards Sustainability

  1. Nikos Avlonas Founder and President1 and
  2. George P. Nassos Principal2

Published Online: 1 NOV 2013

DOI: 10.1002/9781118787472.ch14

Practical Sustainability Strategies: How to Gain a Competitive Advantage

Practical Sustainability Strategies: How to Gain a Competitive Advantage

How to Cite

Avlonas, N. and Nassos, G. P. (2013) Standards and Guidelines for Managing Corporate Social Responsibility towards Sustainability, in Practical Sustainability Strategies: How to Gain a Competitive Advantage, John Wiley & Sons, Inc, Hoboken, NJ. doi: 10.1002/9781118787472.ch14

Author Information

  1. 1

    Center for Sustainability & Excellence

  2. 2

    George P. Nassos & Associates, Inc.

Publication History

  1. Published Online: 1 NOV 2013
  2. Published Print: 20 NOV 2013

ISBN Information

Print ISBN: 9781118250440

Online ISBN: 9781118787472

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Keywords:

  • corporate social responsibility (CSR);
  • global reporting initiative (GRI);
  • stakeholder inclusiveness;
  • sustainability;
  • United Nations Global Compact

Summary

The need for managing corporate social responsibility (CSR) is a rising necessity nowadays. Including sustainability management into the core business of companies, nongovernmental organizations (NGOs), and governments is the only way to have a more sustainable and balanced planet. The global reporting initiative (GRI) framework identifies “stakeholder inclusiveness” as an essential measure of sustainability. It is important to understand that stakeholder theory does not stand alone; rather, it is inextricably linked to many aspects of sustainability. A company must ensure transparency in order to properly engage stakeholders and further its sustainability goals. As a comprehensive sustainability framework, GRI explicitly identifies those aspects of stakeholder engagement a company should address. The United Nations Global Compact has shaped an initiative that provides collaborative solutions to the most fundamental challenges facing both business and society. The Global Compact is global and local, private and public, and voluntary yet accountable.