Role of Green Corporate Social Responsibility and Corporate Social Responsibility in Enterprises

Abstract

CSR is essential for companies to meet financial, social, and environmental goals. European companies can improve society and the environment by incorporating CSR into environmental policies. Businesses globally have invested approximately $16.6 trillion in CSR, which promotes environmental sustainability. Record-high carbon emissions, waste energy, pollution, wastewater, and water scarcity have boosted natural resource demand. The UN General Assembly prioritizes the climate conference in 2019, and the European Commission's action plan for funding sustainable growth recommends integrating sustainability into ratings and market research. Small and medium-sized businesses (SMEs) cause 60–70% of global pollution and drive job and economic growth. EU economy must be sustainable and carbon-neutral by 2050 under the European Green Deal (EGD).