1 WHAT IS CSR? THE EUROPEAN PARLIAMENT’S DEFINITION OF THE TERM CSR (CORPORATE SOCIAL RESPONSIBILITY): ”THE RESPONSIBILITY OF ENTERPRISES FOR THEIR IMPACTS ON SOCIETY.” The Danish Business Authority www.samfundsansvar.dk SHARED VALUE The EU further elaborates this definition with a description that businesses should have procedures in place to integrate social, environmental, ethical, human rights and consumer issues in their operations and strategies. The goal is to create 'shared value' for both the businesses and society as well as to counteract any adverse impact the business may have on society. In 2013, the EU has proposed new possible guidelines for CSR reporting within companies. These guidelines were not approved by the end of the year. 2 2 Pictured, from the left, is Birger Brix, CEO of the Schou Foundation and Jakob Thøisen, CEO of Palsgaard A/S.
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