Corporate social responsibility (CSR) is becoming a common theme in corporate culture, throughout global mining conferences, within business models, even in academia via new MBA programs currently being developed, and yet the question still remains, what is the exact definition of CSR?
The international community has been creating sets of standards to define CSR for over a decade. The Canadian government’s 2006 National Roundtables on mining and social responsibility defined CSR as “the way firms integrate social, environmental and economic concerns into their values, culture, decision-making, strategy and operations in a transparent and accountable manner and thereby establish better practices within the firm, create wealth and improve society.”
Another approach was offered by a Director of CSR for a mining company operating in Australia and Canada: “Do the right thing. Aim for sustainable profitability’ which takes everything into account – good management, good resources, legal compliance, social responsibility, and so on. It certainly is not achieved by only aiming for quick bucks and ignoring the longer term impacts – environmental, legal, social and political acceptability, access to new resources, etc.”
CSR is the social responsibility a corporation has in its operations, whether it is directly related to social assistance to communities, protecting and sustaining the environment, or ensuring that employees and investors are treated in a responsible manner…
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