Corporate Social Responsibility | Definition | What is Corporate Social Responsibility?

European Commission defines corporate social responsibility as “the responsibility of enterprises for their impacts on society”.

Corporate social responsibility is a management concept where corporates integrate the environmental, social and ethical concerns into their core business model and strategy. In India, Companies Act, 2013 mandate companies with a net worth of INR 500 crore or more, or an annual turnover of INR 1000 crore or more, or net profit of INR 5 crore or more, to spend 2% of their average net profits of three years on CSR.