what is corporate responsibility?

The World Business Council for Sustainable Development defines corporate responsibility as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families and the local community and society at large.

More than goodwill, corporate community involvement or strategic corporate philanthropy, corporate responsibility is a genuine attempt by a company to build meaningful relationships between the corporate sector and the rest of society.

Corporate responsibility is achieved when a business adapts all of its practices to ensure that it operates in ways that meet, or exceed, the ethical, legal, commercial and public expectations that society has of business.

To be considered effective, corporate responsibility must be an integrated part of day-to-day business, engaging all stakeholders and including strategies to support individual managers to make socially responsible decisions, conform to ethical behaviour and obey the law.

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The Corporate Responsibility Index is funded by the Australian Federal Government. The Index, developed and maintained by Business in the Community in the UK, is a project of St James Ethics Centre supported by Ernst & Young. Our media partners are The Sydney Morning Herald and The Age. Project catalyst: Pilotlight Australia.