Sustainable development is a great challenge for societies: in times facing a global recession,\r\nfinancial crisis, climate change, and energy crisis it is increasingly important to follow a long-term\r\nstrategy for further development to reach sustainability. Corporate social responsibility is a concept\r\nwhereby companies integrate social and environmental concerns in their business operations and\r\nin their interaction with their stakeholders on a voluntary basis. A strategic approach to CSR is\r\nincreasingly important to the competitiveness of enterprises. It can bring benefits in terms of risk\r\nmanagement, cost savings, access to capital, customer relationships, human resource management,\r\nand innovation capacity. In this contribution the activities of the European Union on sustainability\r\nand corporate social responsibility were analyzed. The results revealed that by renewing efforts to\r\npromote CSR, the Commission aims to create conditions favourable to sustainable growth,\r\nresponsible business behaviour and durable employment generation in the medium and long term.\r\nWith it�s strategy on CSR the European Commission emphasized the need for the establishment of\r\nsector-based platforms for enterprises and stakeholders to make commitments and jointly monitor\r\nprogress, the improvement and tracking of levels of trust in businesses, the creation of guidelines\r\nfor the development of future self- and co-regulation initiatives and the improvement of company\r\ndisclosure of social and environmental information.
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