Corporate Social Responsibility In The 21st Century A Path To Sustainable Goals: Balancing Profit And Purpose

Abstract

One of the most important corporate goals is Corporate Social Responsibility (CSR), which is an attempt to prioritize stakeholder interests while conducting business in a way that is sustainable in terms of the economy, society, and environment. Through CSR programs, firms align with societal interests by acknowledging the impact of their actions on communities, shareholders, customers, employees, and the environment. CSR in the public sector prioritizes capacity building, sustainable development, and inclusive growth, with an emphasis on meeting the socioeconomic needs of marginalized and impoverished populations. A concrete realization of social responsibility in the Indian corporate environment is marked by the Companies Act of 2013, which represents a legislative shift requiring corporations to embrace CSR initiatives. As a result of realizing the importance of thorough assessment, businesses are moving closer to sustainable development by taking the social and environmental effects of their economic operations into account. This study delves into the contribution of CSR towards sustainability, the challenges faced while up hilling the road and a path ahead.