International Initiatives Regarding CSR

Abstract

Sustainable development is a continuous and very complex process, which is why it requires considerable effort from different categories of stakeholders. Given the primary focus of companies on profit maximization, international or regional organizations have had various initiatives to promote the principles of sustainable development and create a general framework for CSR. These initiatives have taken various forms such as the Global Compact Principles for companies or portfolio investors. Most such initiatives imply the voluntary involvement of companies or other entities in promoting social responsibility through specific mechanisms. The impact of these initiatives is appreciable considering that various entities, like transnational companies, SMEs, universities, or portfolio investors, have been involved in the process of promoting sustainable development. The launch of the Sustainable Development Goals has generated an even more intense involvement of the United Nations, the principles of the Global Compact being a tool to promote these goals internationally.