Corporate Social Responsibility (CSR) is becoming increasingly important in the global marketplace, both in terms of mitigating risks associated with legal compliance as well as enhancing business insight to boost profitability.
CSR and Sustainability have therefore made their way to the top of the corporate agenda and non-financial criteria, based on them are now being used by employees, investors, customers, suppliers, ratings agencies and the media to analyze and compare companies. In this approach, some have contended that unrestricted private sector behavior has been considered as presenting the “environmental problem”.
However, the roles of sectors have been changing, with the private sector becoming an active partner in environmental protection. Many governments and businesses are now realizing that environmental protection and economic growth are not always in conflict.
CFS will direct the private sector to adopt environmentally sound behavior through regulations, sanctions and occasionally, incentives. As environmental problems have arisen, the public sector has generally born the responsibility for mitigation of environmental damage; with its well experienced panel of experts CFS will guide them to fulfill that task.