Corporate Social Responsibility (CSR)
CSR is a company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship through their waste and pollution reduction processes, by contributing educational and social programs, and by earning adequate returns on the employed resources.
Also put in the terms: “People, planet and profit”, known as bottom line to evaluate CSR. “People” refers to fair labour practices, the community and region where the business operates. “Planet” refers to sustainable environmental practices. Profit is the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital (unlike accounting definitions of profit).
|People||For instance: As part of the personnel policy to pay out salaries above the minimum wage and granting discounts to employees in case of purchasing products for their own.|
|Environment||For instance: All products and ingredients comply with the latest regulations and are produced in accordance with GMP and all applicable international and local regulations and laws. All the products meet the strictest quality and environmental requirements in the world.|
|Society||For instance: The company does not make use of child labor nor do her suppliers. This is in accordance with Article 32.1: States Parties recognize the right of the child to be protected from economic exploitation and from performing any work that is likely to be hazardous or to interfere with the child’s education, or to be harmful to the child’s health or physical, mental, spiritual, moral or social development.|