Environmental Protection and the Social Responsibility of Firms

Corporate SocialResponsibility

An Economic and Public Policy Perspective

Paul R. Portney

The term “sustainable development” began popping up prominently in public policy, and especially environmental debates, beginning with the publication in 1987 of the report “Our Common Future,” by the World Commission on Environment and Development.¹ Similarly, over the last 10 years or so—and at least in part as an offshoot of the ongoing debate about sustainable development— we have begun to hear more and more about what has come to be known as corporate social responsibility (CSR).² As pointed out by the World Business Council for Sustainable Development, no well agreed-upon definition of CSR exists apart from a commitment by corporations to contribute ...