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Corporate social responsibility (CSR) is the practice of sustainable development by companies. Therefore, a company that practices CSR will seek to have a positive impact on society and respect the environment while being economically viable.
It will establish a balance with the help of its stakeholders (that is to say, its employees, customers, suppliers, etc.).
Thus, companies that undertake to set them up will, on a voluntary basis, integrate these aspects beyond the legal framework imposed on them by implementing best practices or even by opening new economic models.
For some companies, mainly those whose activities have a significant impact on the environment, it is a question of questioning their business model and making it compatible with the fight against climate change and the sustainable management of resources.
Perhaps in summary, CSR defines as "the contribution of companies to the challenges of sustainable development".
All companies can implement corporate social responsibility approaches, regardless of their size, status or sector of activity.
In order to achieve these objectives, many tools have been developed in recent years to enable the company to better quantify its performance and actions in terms of sustainable development. For example, companies now use LCA (Life Cycle Analysis) to quantify their greenhouse gas emissions and their impact on the environment. Other tools are being developed to better take into account the expectations of stakeholders and better communicate in a more responsible manner. For example, the extra-financial performance statement is, for example, the ideal tool for reporting on extra-financial indicators and communicating them to its stakeholders.