Sustainability and Corporate Social Responsibility: A Blueprint for Modern Business Success

The continual economic evolution in the world has generated fears about the depletion of natural resources. In recent years, the industries have focused on the ‘green business’ concept to prioritise a sustainable environment by minimising their effects on the environment. Thus, the industry is offering environmentally friendly products or services, reducing the carbon footprint, to support green initiatives through local partnerships and philanthropy. This article explores the correlation between sustainability and corporate social responsibility (CSR), highlights the different approaches employed by the industry to accomplish these responsibilities, and appraises the development in the Southeast Asian region. Although Southeast Asia has opted for various CSR initiatives and has been engaged in environmental sustainability drives, the effect is far too minimal in most of the countries. Regardless of the increasing trend of global interest in adopting CSR among businesses, as of date, the share of businesses adopting CSR is still relatively very low. The CSR journey of Southeast Asia is marked by strong community engagement, government influence and emerging regulatory frameworks. The region has to face both challenges and avail an opportunity to redefine CSR within its own socio-economic context.