Revista UIS Ingenierías

Vol. 23 No. 2 (2024): Revista UIS Ingenierías
Articles

The value of corporate social responsibility practices in a world more concerned about sustainability: A literature review

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  • Angélica Robayo-Avendaño ,
  • Dorian Prato-García
Angélica Robayo-Avendaño
Universidad Nacional Abierta y a Distancia
Dorian Prato-García
Universidad Nacional de Colombia
DOI: https://doi.org/10.18273/revuin.v23n2-2024005

Published 2024-06-06

Keywords

  • Corporate social responsibility (CSR),
  • CSR standards,
  • environmental responsibility,
  • strategic management,
  • transparency

How to Cite

Robayo-Avendaño , A., & Prato-García , D. . (2024). The value of corporate social responsibility practices in a world more concerned about sustainability: A literature review. Revista UIS Ingenierías, 23(2), 71–90. https://doi.org/10.18273/revuin.v23n2-2024005

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Creative Commons License

This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.

Abstract

Corporate social responsibility (CSR) has been seen as an opportunity to increase reputation, cost savings, business and financial opportunities, and create economic and sustainable value. The purpose of this review is twofold: first to draw attention to the complex relationship between common CSR practices used to deal with critical issues for our society and the impact they have on the trust and loyalty of stakeholders. Second, based on a study of 91 documents, to identify the advantages/weaknesses of implementing recognized standards (ISO 14001, ISO 26000, GRI, SA8000, AA1000) in different sectors of the economy. The standards provide a guideline for the elaboration, disclosure, and evaluation of the transparency reports of CSR. Some indicators used to measure CSR are more focused on environmental topics but recognizing social justice as a priority is critical to promoting the well-being of internal and external stakeholders. Furthermore, CSR standards play a crucial role in our world because they encourage ethical behaviors that reinforce the values and integrity of our society. The future research agenda should be oriented to monitor the impact of CSR initiatives in complex scenarios, consider the voices of non-specialized stakeholders, and integrate approaches that make visible the consequences of these practices.

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