14. Standards and Guidelines for Managing Corporate Social Responsibility towards Sustainability
Published Online: 1 NOV 2013
Copyright © 2014 John Wiley & Sons, Inc.
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
- Published Online: 1 NOV 2013
- Published Print: 20 NOV 2013
Print ISBN: 9781118250440
Online ISBN: 9781118787472
- corporate social responsibility (CSR);
- global reporting initiative (GRI);
- stakeholder inclusiveness;
- United Nations Global Compact
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.