What is Environmental Corporate Social Responsibility (ECSR) and why is it important?
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Abstract
Nowadays there is a growing concern about climate change and global warming and as a response to solving this challenging issue in the industrial sector, the concept of Environmental corporate social responsibility (ECSR) has increasingly gained significance in the corporate world. Implementation of ECSR activities aims to address the threat of climate change by reducing the negative impact on the environment from business operation processes. ECSR is one dimension of corporate social responsibility(CSR), related to a firm's corporate governance, sustainability, and performance having aims at reducing the hazardous impact on the environment in the process of an organization's production process to achieve long-term environmental well-being. This article has these objectives: 1. What is environmental corporate social responsibility (ECSR); and 2. Why ECSR is important? The article used state-of-the-art literature review methods, relevant to the stated objectives, and searched by typing keywords such as, “Environmental Corporate Social Responsibility” and “Importance of Environmental Corporate Social Responsibility” from relevant search engines available online. The result found ECSR to be a multi-dimensional concept as it is related to corporate governance, and sustainability, and helps to increase the substantial capacity of a firm's competitiveness and performance. ECSR has gained importance increasingly among scholars, policymakers, and practitioners as the implementation of ECSR activities successfully leads to sustainable development. The article concluded that the adoption of ECSR in corporate management is very essential as a strategy to solve environmental problems while strengthening a green ecology for the overall well-being of the economy and society.
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