In addition, stakeholder groups such as non-governmental
organisations (NGOs) and the media have also played a key
role in drawing attention to CSR related issues. As a result,
today's companies appreciate that they can no longer
operate in isolation from stakeholders.
Mainstreaming CSR and advancing social innovation
requires audacity, and joint efforts of many more
companies and stakeholders working in new
partnerships.
It is against this background that CSR Europe launched
its ?agship initiative, Enterprise 2020, in October 2010.
Enterprise 2020 is an initiative for companies
committed to (1) mainstreaming CSR and (2)
developing innovative business practices and working
together with their stakeholders to provide solutions
and practical tools to help meet societal needs.
In practice, companies and their stakeholders can engage
in Enterprise 2020 in a number of ways. At the heart of the
initiative are collaborative projects led by companies and
coordinated by CSR Europe and its partner organisations.
In these collaborative projects, many business
practitioners, policy makers, NGO representatives and
other stakeholders work closely together to tackle pressing
socio-economic and environmental challenges. The
existing projects address issues ranging from demographic
change to health and wellbeing, ESG disclosure and
transparency to ?nancial inclusion, and responsible supply
chain managemen t, among others.
Through the various initiatives and collaborations, the
companies and organisations involved in the Enterprise
2020 initiative will produce tangible results and models
which can be shared externally across industries and thus
further the promotion of CSR in Europe.
At policy level, the increasing interest in the business
opportunities associated with innovative CSR approaches,
together with the growing stakeholder expectations for
corporate accountability and responsible business
practices both within and outside Europe, has continued to
push the European CSR agenda forward.
In October 2011, the European Commission (EC)
published a Communication on its renewed strategy
on CSR for the period 2011-2014. Through its
Communication, the EC has demonstrated its
commitment to supporting CSR and has recognised
the potential for CSR to contribute to sustainable
development and competitiveness in Europe.
The year 2020 will undoubtedly bring with it a new set of
challenges, however, those companies that ?nd the right
balance between minimizing risks through accountability
and maximizing opportunities through social innovation will
not only be amongst the most successful companies, but
will also ?nd themselves leading the transformation towards
a smart, sustainable and inclusive society.
De?ning CSR in a modern context
•
Highly developed CSR management and transparency A company's ability to manage and mitigate exposure to
environmental, social and governance issues is a key
driver in determining its viability.
•
Social innovation as business strategy – seize the
opportunities in tackling societal issues to
simultaneously create business and social value
•
Collaboration - No single company, policymaker or
organisation can successfully work in isolation to
address today's complex social and environ-mental
challenges
Head Of?ce CSR Europe
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CORPORATE SOCIAL REVIEW