sustainability Article On Earth as It Is in Heaven: Proxy Measurements to Assess Sustainable Development Goals at the Company Level through CSR Indicators Dolores Gallardo-Vázquez 1, * , Flavio Hourneaux Junior 2 , Marcelo Luiz Dias da Silva Gabriel 3 and Luis Enrique Valdez-Juárez 4   Citation: Gallardo-Vázquez, D.; Hourneaux Junior, F.; da Silva Gabriel, M.L.D.; Valdez-Juárez, L.E. On Earth as It Is in Heaven: Proxy Measurements to Assess Sustainable Development Goals at the Company Level through CSR Indicators. Sustainability 2021, 13, 914. https:// doi.org/10.3390/su13020914 Received: 14 December 2020 Accepted: 3 January 2021 Published: 18 January 2021 Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affil- iations. Copyright: © 2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https:// creativecommons.org/licenses/by/ 4.0/). 1 Department of Financial Economics and Accounting, Faculty of Economics and Business, University of Extremadura, 06006 Badajoz, Spain 2 School of Economics, Business Administration and Accounting, University of Sao Paulo, São Paulo SP 05054-010, Brazil; flaviohjr@usp.br 3 Graduate Program in Management, Ibirapuera University, São Paulo SP 04661-100, Brazil; mgabriel.br@gmail.com 4 Faculty of Economics and Business, Technological Institute of Sonora, Guaymas, Sonora 85400, Mexico; levaldez@itson.edu.mx * Correspondence: dgallard@unex.es; Tel.: +34-924-289520 (ext. 89163) Abstract: In recent years, we have witnessed dramatic changes in the following two regards: First, Corporate Social Responsibility (CSR) practices have become ubiquitous in companies, and second, the challenge that Sustainable Development (SD) presents to society and to the planet has been illustrated in the United Nations’ Sustainable Development Goals (SDGs). In this context, this study aims to identify the extent to which companies address the SDGs through their CSR practices. We conducted the present research by first performing a content analysis to determine the communalities between CSR practices and the SDGs. Then, we performed a quantitative analysis to assess the performance of various companies in terms of common aspects of CSR and SDGs. The main findings are as follows: (1) Not all SDGs are related to CSR practices; (2) companies perform differently in their CSR practices and, consequently, make different contributions to the SDGs; and (3) there is little difference among company profiles regarding their performances in CSR practices towards the SDGs. The main contributions of this study are, first, that it provides a new perspective on the relationship between CSR and SD and, second, the creation of a list of what can be considered the minimum requirements for CSR practices if the SDGs are to be reached. Keywords: Corporate Social Responsibility (CSR); Corporate Sustainable Performance (CSP); Sus- tainable Development (SD); Sustainable Development Goals (SDGs); indicators; cluster latent analy- sis; Spain 1. Introduction The increasing importance of Corporate Social Responsibility (CSR) for companies and society, and the need to identify and measure the results that have been achieved by organizations are major current issues in business. Concurrently, the Sustainable Development Goals (SDGs) were launched by the United Nations as part of the 2030 Agenda, defining the most critical aspects related to sustainability worldwide. In this way, each organization will naturally focus on the SDGs that are most attractive, closest, or most accessible in accordance with the CSR actions that they have implemented. From this perspective, our intention is to facilitate the intensification of CSR actions by businesses, with the goal of achieving the 17 SDGs from the UN’s 2030 Agenda. This study is based on the strategic importance of CSR that emerged among businesses a few years ago [1–5]. According to the Green Paper from the European Commission [6], Promoting a European Framework for Corporate Social Responsibility, CSR is considered the Sustainability 2021, 13, 914. https://doi.org/10.3390/su13020914 https://www.mdpi.com/journal/sustainability