Date of Publication: Mar 10, 2020

Author: by Borja Diez-Cañamero, Tania Bishara, Jose Ramon Otegi-Olaso, Rikardo Minguez and Josà María Fernández

Summary:

Companies are currently changing their traditional role in society and transforming it into a proactive role in which their operations generate social and environmental positive impacts. Corporate Social Responsibility (CSR) has evolved from simple philanthropy to a more theoretical concept with a new corporate philosophy that takes all the interests of all stakeholders into consideration. The financial market is pushing the development of Socially Responsible Investment (SRI), which has led to the rise of Corporate Sustainability Systems (CSS). These CSSs are tools that rate corporate performance on sustainability. However, they constitute a chaotic universe, with instruments of different nature. This paper identifies and groups the common characteristics of the CSSs into three different typologies: Indexes, Rankings and Ratings. Despite this classification, and although the fundamental pillar of CSR is the œStakeholder Theory, CSSs are still not ideal tools to be used by all stakeholders. From the magma of CSSs, this article identifies and describes, through a comparative analysis, those which best comply with the œStakeholder Theory. This paper facilitates the work of researchers and stakeholders by exposing the differential characteristics of the most important CSSs. View Full-Text

Link to Full Reading:

https://www.mdpi.com/2071-1050/12/5/2153