At the present era of globalization, the corporate business as the largest wealth generating entity is considered to be one of the prime actors for the achievement of sustainable development. CSR as a business strategy acts as instrumental to enforce business role for the realization of this objective. CSR paves for business to work simultaneously as an economic institution, a social actor and an environmental protector. This article is an effort to this end highlighting interlinks between the growing framework of CSR and the economic, social and environmental dimensions of sustainable development.