An Assessment of CSR's Theoretical Ability to Meet SDGs

Abstract

In 2015, an estimated ten percent of the global population lived in extreme poverty, eleven percent were malnourished, five percent lacked access to basic healthcare, twenty-five percent lived in dangerous environments, 35 percent of women had been subjected to physical or sexual abuse, 36 percent lacked access to basic sanitation facilities, and 15 percent were without electricity. The United Nations created the seventeen Sustainable Development objectives (SDGs) to address these global concerns; 193 UN member countries have approved these objectives. These committed nations are actively implementing the Sustainable Development Goals (SDGs) by leveraging their full range of human, financial, and technical resources. A recent study of the Sustainable Development Goals (SDGs) implementation in 26 countries discovered that limited financial resources inhibit development, resulting in geographically distributed implementation and a failure to integrate goals. According to studies, there is a USD 2.5 trillion implementation difference per year. Numerous alternative resource methods are now being investigated, with a particular focus on rising nations that already experience resource restrictions, with the goal of closing the resource gap. Because of their inventive capabilities and readily available resources, the world community sees corporations as critical actors in accomplishing the SDGs. There has been debate about the possible use of corporate social responsibility (CSR) money and development projects to further this goal. Institutional theory is a good place to start when looking into how firms respond to social and environmental concerns. The connection of the CSR concept with stakeholder theory makes it easier to provide services to a wide variety of stakeholders.

Keywords- An Assessment of CSR's Theoretical Ability to Meet SDGs