In recent years, major corporations have begun to recognize the importance of Corporate Social Responsibility (CSR). This is often referred to as the “Triple Bottom Line” and represents how companies achieve a positive impact on society through conscientious management of business practices.
The concept of Corporate Social Responsibility encourages consumers and company organizational stakeholders to evaluate not only an organization’s economic performance, but also its social and environmental performance (hence, a “triple bottom line”).
Support of Corporate Social Responsibility is rapidly growing, with the number of CSR reports generated annually by major organizations increasing by over 700% since the turn of the new millennium. The current number of major organizations issuing CSR reports exceeds 350, with most Fortune 500 companies now included (as reported by the U.S. Chamber of Commerce).