CSR as a tool for managing and communicating corporate reputation

Abstract

For the past decade, there has been an increase in the importance and global predominance of Corporate Social Responsibility (CSR). By its very nature, CSR tends to be integrated into a company’s core business strategy, becoming a crucial element in the process of long-term wealth creation, profit sustainability, and value creation. Companies started applying CSR in response to widespread concern about their impact on society. For this reason, many began drafting reports that, in one way or another, contemplate social and environmental aspects. In turn, civil society organizations and stakeholder forums developed recommendations and standards for these reports, which, as a result, have led to numerous international initiatives and specific systems of environmental management. This paper looks at CSR in the context of how environmental companies behave. It examines the concept in depth and thoroughly considers different theoretical approaches, the concept’s application in the private and public sectors, and its main measurement and management models. We also offer a practical analysis of the application of CSR in an environmental company like CESPA (Ferrovial), one of the first such companies in Spain.