The European Commission defines Corporate Social Responsibility (CSR) as:
“the responsibility of enterprises for their impact on society.” […]
According to the World Bank definition:
“CSR is the commitment of business to contribute to sustainable economic development and to establish a relationship with employees, their families, local authorities, and society at large, with the aim of improving the quality of life in a way that is beneficial both for business and for development.” CSR is viewed not as a one-time action, but as a continuous process that helps balance the three pillars of sustainable development – economic growth, social development, and environmental protection.