Sustainable Development is development that “meets the needs of the present without compromising the ability of future generations to meet their own needs.” Developed at the World Commission on Environment and Development in the 1987 report Our Common Future.
The organization Business for Social Responsibility defines corporate social responsibility (CSR) as “achieving commercial success in ways that honor ethical values and respect people, communities, and the natural environment.” We [BSR] also say that CSR means addressing the legal, ethical, commercial and other expectations society has for business, and making decisions that fairly balance the claims of all key stakeholders.
Starbucks defines CSR as “conducting business in ways that produce social, environmental and economic benefits to the communities where they operate. Starbucks has been widely recognized for its commitment to numerous stakeholders including coffee growers, the environment, employees, and communities, while simultaneously achieving rapid financial growth.”
The Fall 2005 issue of Stanford Social Innovation Review has an article by Deborah Doane on The Myth of CSR (Corporate Social Responsiblity) and how ultimately regulation will be needed to bring about change.