Question

Silver Mining is opening a new mineral extraction facility in the local town and will employ several thousand people. They have decided to install scrubbers on the smokestacks of their facility in order to protect the environment, even though they are not required by the law to install them. This is an example of:

Answer 1

Answer:

Corporate Social Responsibility or CSR.

Explanation:

To put it simply, Corporate Social Responsibility means that a company is concerned and responsible about how their actions affect People, Planet and their Profits (3 P's)

Following are the generally accepted principles of CSR.

1. Compliance with international commitments
2. Compliance with international and national laws and regulations
3. Maintenance of good corporate governance
4. Communication and dialog with all stakeholders
5. Commitment to Transparency
6. Conservation and the promotion of the Environment
7. Fiscal responsibility
8. Protecting Human Rights
9. Promotion of Social responsibility