Corporate Social Responsibility: redefining the concept of responsible business behaviour.

EPP Group Hearing on Corporate Social Responsibility (CSR): the role of companies as a catalyst for greater social cohesion and sustainable growth at European and global level

"I firmly believe that the basic principle for the development of CSR must be its voluntary nature. Only a voluntary approach will allow companies to put in place, based on their specific capacity, the economic paradigm shift necessary to implement the idea of sustainable development, the cornerstone of the Europe 2020 Strategy for growth", said Raffaele Baldassarre MEP, the European Parliament Rapporteur on the CSR (responsible for drafting the Parliament's position), during the EPP Group Hearing that took place on Monday in Brussels.

"If properly exploited, CSR can emphasise the contribution and value of companies to work as a catalyst for greater social cohesion at European and global level. It is therefore necessary to ensure adequate financial support for the implementation of the strategy to promote greater awareness of its positive aspects by all the actors involved".

Corporate Social Responsibility refers to the actions of companies that go beyond their legal obligations towards society and the environment. Specific regulatory measures can create a supportive environment to ensure that companies take voluntary actions to be socially responsible.

In October 2011, the European Commission put forward a new strategy. With this new strategy, the EC proposes a new definition of CSR as "the responsibility of enterprises for their impact on society". To fully meet their CSR, companies must have in place a process for integrating social, environmental, ethical and human rights issues, as well as the demands of consumers, in their business operations and in their basic strategy.

"A key requirement for achieving this objective is the creation, through targeted policies - adequately supported - of a business-friendly environment that makes adherence to CSR a natural choice. This can only happen with the minimum administrative burden and eliminating the additional costs resulting from disclosure requirements or other types of requirements for businesses trying to expand their social responsibility", said Raffaele Baldassarre MEP.

"The promotion of CSR, including through a European award, might give the impulse needed for the diffusion of best practice and strategies that are crucial, especially to small and medium-sized enterprises", explained Raffaele Baldassarre MEP.