CORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABILITY

Corporate Social Responsibility (CSR) is the self-regulation adopted by business organisations compatible with the law, ethical principles and international practices. CSR is fundamentally an ethical concept intended to serve society in general and secure the financial interests of shareholders and stakeholders in particular. The core of CSR is “बहुमुख विकासो गंतव्यः” (Multi-dimensional Development) and “society at large should be served.” Adopting a robust and coherent CSR strategy is integral to sustainability and sustainable development. In the changing global business landscape, integrating CSR and sustainability is a prerequisite towards creating a sustainable and socially responsible business. For enabling businesses to satisfy, social expectations in today’s business landscape. The interconnection between CSR and sustainability is essential, focal and crucial. In a fast-changing business environment, sustainability and stability are as much needed as reform, perform and transform. Sustainability brings out stability in the requirements of the environment and aims at conserving the resources provided by nature. CSR strategies contribute to sustainability and assist business organisations to achieve social, economic and environmental performance. In the above context, the present study makes a modest attempt to conceptualise CSR, sustainability, and sustainable development as well as interpret and analyse the connection and interdependence between CSR and sustainability. This study finds that CSR practices can more meaningfully contribute towards the accomplishment of sustainability and Sustainable Development Goals (SDGs) if business organisations adopt a long-term comprehensive approach to yield productive results. The scholar finds that CSR needs to align with an organisation’s objectives and values to operate socially and sustainably