Tracing the historical development of corporate social responsibility and corporate social reporting

Abstract

The concept of Corporate Social Responsibility does not have a precise meaning. Some would describe Corporate Social Responsibility as corporate compliance with the spirit as well as the letter of the law and others may refer to it as a business approach by which an organisation takes into account the manner in which its activities may impact upon different stakeholders.

Even though there is not one definition for Corporate Social Responsibility, a concern with this notion has existed for centuries. For instance, Corporate Social Responsibility dates from the Code of Hammurabi in Babylon millennia ago. Its evolution is reflected in the different guidelines instituted to help companies in their corporate social reporting. This paper provides an overview of the historical development of Corporate Social Responsibility and most specifically corporate social reporting. It also reviews recent trends and developments in corporate reporting standards and guidelines, and includes a brief overview of socially responsible investment, a topic of recent interest.