Glossary

Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders.

Creating shared value (CSV) conveys the idea that a business must do two things simultaneously to be successful in the long-term: create economic value for both the company and the society. The CSV definition of the role of business in society has emerged with a clear focus on long-term thinking and aligning the interests of shareholders and societies for mutual benefit. CSV carries the idea that in order to overcome the profound and harmful disconnect between the needs of society and business, a business must create value for society alongside creating value for shareholders in order to be successful in the long term.