PRACTICE BRIEFING Social responsibility: key terms and their uses in property investment Claire Roberts, Dan Rapson and David Shiers Department of Real Estate and Construction, Oxford Brookes University, Headington, Oxford, UK Abstract Purpose – Corporate social responsibility (CSR), corporate governance (CG) and socially responsible investment (SRI) are now established terms among most large corporations, particularly in the field of investment. The aim of this paper is to explore the issue of social responsibility (SR) in property investment in the UK. Design/methodology/approach – A review of existing literature across different disciplines sought to explore the scope and boundaries of these issues. This was followed by a review of the approaches to, and reporting protocols of the activities of the five largest property investment management companies in the UK. Findings – The study revealed a significant variation in the way UK property investment management companies define and use SR-related terms, both within and between companies in the same industry. Originality/value – The potential for confusion, difficulties in communication (both within and between companies) and dilution of the true meaning of these terms is significant for the sector. These issue need to be addressed to ensure that SR-related activities can make a more widely-adopted contribution to the property in particular and to society in general. Keywords Corporate social responsibility, Investments, Corporate governance, Property, United Kingdom Paper type General review Introduction The consideration of issues around social responsibility (SR) in business has grown significantly over the last decade to become a common part of management practice among larger corporations. As a result, corporate social responsibility (CSR) has gradually become a leading issue in business. Pryce (2002) cites the “five forces” that have driven SR in business; customer pressure, changes in business procurement, government legislation and pressure, the rise of socially responsible investment (SRI) and the changing expectations of employees. Further to this, Dawson (2004) cites the growing number of revelations of poor ethical and professional standards in business which has subsequently called into question the judgement and moral integrity of business leaders and their professional advisors. The media routinely reporting instances of corporate fraud, exploitation of natural resources, greed and self serving decisions in the boardroom, increasing gaps between high and low earners in organisations, exploitation of economically and socially vulnerable populations through inappropriate advertising and human rights abuses and double standards of The current issue and full text archive of this journal is available at www.emeraldinsight.com/1463-578X.htm JPIF 25,4 388 Journal of Property Investment & Finance Vol. 25 No. 4, 2007 pp. 388-400 q Emerald Group Publishing Limited 1463-578X DOI 10.1108/14635780710762526