Sustainability and corporate social responsibility
Business plays a key role in the development of society, not the least in offering jobs, but also in providing innovative solutions to major societal and environmental challenges, such as sustainable transport, eco-efficient products, promoting a healthy lifestyle or diversity at the workplace, often working together with stakeholders.
The broad ownership and development of sustainability and CSR amongst European companies continues to flourish.
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Competitiveness and sustainability are not in opposition. In fact, there is evidence that where EU companies are relatively advanced in this field, they can have easier access to finance, and/or this can be a competitive advantage for them on international markets.
Europe must approach sustainability and CSR policies in line with its need to remain globally competitive, including in the implementation of the UN 2030 Sustainable Development Goals. It should be about encouraging and supporting sustainability in a partnership approach with companies and the relevant stakeholders. Policy intervention should focus on areas where it is needed and can effectively bring added value.
The key challenge for EU CSR policy is ensuring that it promotes further voluntary uptake and development of CSR by companies, whilst allowing them the flexibility to continue to shape their own CSR approach according to their specific circumstances and the needs of their stakeholders.
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