Terminology / Definitions

Our area of concern uses a wealth of terms and concepts quite new to the business environment. It is therefore essential for those visiting our site, to grab the exact meaning of the expression and abbreviation we use.

We provide in this section short definitions and explanations for the terms and concepts we refer to in order to ease the understanding of our readers.

Corporate Social Responsibility (CSR):
Is concerned with treating the key stakeholders of a firm or institution ethically or in a responsible manner. ‘Ethically or responsible' means treating stakeholders in a manner deemed acceptable in civilised societies. Social includes economic and environmental responsibility. Stakeholders exist both within a firm and outside. The wider aim of social responsibility is to create higher and higher standards of living, while preserving the profitability of the corporation, for peoples both within and outside the corporation Original Source: Michael Hopkins: A Planetary Bargain: Corporate Social Responsibility Comes of Age (Macmillan, UK, 1998) Revised July 2009

Corporate Citizenship (CC):
Is about business taking greater account of its social and environmental - as well as its financial - footprints. Source: Simon Zadek The Civil Corporation, (p7, Earthscan, London, 2001)

Corporate Governance (CG):
Corporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society" Source: Sir Adrian Cadbury in ‘Global Corporate Governance Forum', World Bank, 2000)

Corporate Social Investment (CSI):
Is the investment in development projects in emerging markets by companies that may, or may not be, directly relevant to the company's bottom line

Corporate Sustainability:
Aligns an organisation's products and services with stakeholder expectations, thereby adding economic, environmental and social value Source: PriceWaterhouseCoopers.

Carbon Footprint:
It measures total amount of greenhouse gas emissions released into the environment. Greenhouse gas emissions from all sources are summed up and changed into units of CO2 equivalent which is used to standardize greenhouse gas emissions and help make comparisons from different time periods and across industries. Carbon emissions are usually measured in metric tones per year (1 metric ton equals 2204lbs).

Compost:
The relatively stable humus material which is produced when bacteria in soil mixes with degradable trash and garbage to break down the mixture into organic fertilizer.

Cradle-to-Cradle:
A design protocol that supports the elimination of waste by recycling materials or products into new or similar products at the end of its intended life, instead of disposing of it.