1 | Page JOURNAL ON CONTEMPORARY ISSUES OF LAW VOLUME 3 ISSUE 8 CORPORATE SOCIAL RESPONSIBILITY TOWARDS ENVIRONMENTAL PROTECTION Hilal Ahmad Sheikh 1 "Let us be good stewards of the Earth we inherited. All of us have to share the Earth's fragile ecosystems and precious resources, and each of us has a role to play in preserving them. If we are to go on living together on this earth, we must all be responsible for it." - Kofi Annan INTRODUCTION The emerging concept of corporate social responsibility goes beyond charity and requires the corporations to act ethically and morally in the company’s business affairs. The triple bottom line approach to corporate social responsibility emphasizes the company’s commitment to operate in economically, socially and environmentally sustainable manner. CSR is based on the idea that successful profitable corporations should take the responsibility for social issues and manage their business in such a way that maximises profit and stockholder wealth while also contributing to the resolution of the social problems. The concept involves notions of human welfare and emphasizes a concern with the social dimensions of the business activity that have direct connection with the quality of life in the society. The word responsibility implies that business organisations were believed to have some kind of obligation towards the society in which they functioned to deal with the social problem s and contribute more than just economic goods and services. It is a concept whereby the companies integrate social and environmental concern in their business operations and in their interactions with the stakeholders on a voluntary basis. The main function of an enterprise is to create value through producing goods and services that society demands, thereby generating profit for its owners and shareholders as well as the welfare of the society, particularly through the on going process of job creation. Social responsibility implies the acceptance of a moral imperative to recognise the duties and obligations arising from a company’s relationship with customers, suppliers, employers, shareholders and society at large beyond consideration of profit. It refers to business decision making linked to the ethical values, compliance with the legal requirements and respect for people and communities and environment. 1 LL.M Scholar, Department of Law, University of Kashmir.