Corporate Social Responsibility (CSR) involves the voluntary integration of social and environmental concerns into business operations and stakeholder relations. It is based on business ethics and the principle that companies should not only seek to maximise profits, but also contribute to the well-being of society and sustainable development, in accordance with the SDGs.
Business ethics and CSR
Business ethics and sustainability are central to Corporate Social Responsibility (CSR) and ethical values. This includes respecting human rights, complying with applicable laws, and maintaining high standards of integrity and transparency in all activities. Sustainability can include initiatives to support education, health, community development, and equal opportunities, among other aspects.
Community engagement is a fundamental part of CSR. It involves establishing positive and collaborative relationships with the local communities where the company operates.
Socially responsible investment is another key practice in the field of CSR. It involves integrating environmental, social, and corporate governance criteria into company decisions. It may involve promoting sustainable development through sustainable procurement.
Corporate transparency involves the open and honest disclosure of information about business practices, social and environmental performance, and the company’s impact on society. For example, it includes sustainability reports, social and environmental audits.
Standards related to business ethics
There are several international norms and standards related to “business ethics,” including management, sustainability, and social responsibility. Some of the most relevant are:
Ecovadis - Sustainability rating system that includes business ethics and compliance
Ecovadis assesses corporate ethics through the Ecovadis questionnaire using criteria of integrity, anti-corruption and compliance, promoting responsible, sustainable and transparent practices in organisations through the Ecovadis platform.
SMETA (Sedex Members Ethical Trade Audit) – Ethical audit of labour, environment and business practices
SMETA 2 and 4 pillars of ethical trade and social responsibility. The SMETA audit is conducted by SEDEX, which assesses ethics in the workplace, the environment and commercial practices.
As a social responsibility consultancy, we help you make SMETA a success.
CSR management system standards
CSR certificates according to CSR management system standards such as:
- IQNet SR10 – Social responsibility management system.
- SGE 21 Forética – Ethical and socially responsible management system.
- SA8000 – Social responsibility standard focused on labour rights and ethical working conditions.
- ISO 26000 – Social responsibility guidance (includes ethical and governance principles).
All these standards are linked to business ethics.
GRI Standards – Sustainability standards. Includes ethics, governance, and transparency
GRI standards require business ethics through transparency, anti-corruption, respect for human rights, social responsibility and sustainable practices.
The GRI report on business ethics includes anti-corruption, transparency, human rights, regulatory compliance, responsible governance and commitment to sustainability.
ISO 37001 – Anti-bribery management systems
Business ethics in ISO 37001 on bribery prevention relate to bribery prevention, transparency, regulatory compliance, organisational integrity, and a corporate culture based on responsibility and trust.