Sustainable Development and Corporate Social Responsibility: The Case of Corinth Pipeworks S. A

Investors around the world show steadily increasing support for environmental and social issues. Therefore, the majority of the companies are in favor of adopting sustainable and socially responsible actions. On one hand, Corporate Social Responsibility, according to which companies operate considering the common good of society and environment, assist in reducing environmental and social problems, but always focusing in respect of people, society and economy. On the other hand, there is the Sustainable Development, which follows the same parameters as CSR (Economy, Environment and People), with the difference that -in the light of economic growth- corporations look forward and plan their changes in order to secure their future (i.e. reducing waste, assuring supply chains, developing new markets, health and safety, etc.). In the first part of the article, both of the concepts above -namely SD and CSR- will be investigated with the aid of literature review, targeting in to not only comprehend their importance but also to recognize the changes that have occurred throughout the decades. Moreover, the article will be focused in current global standards such as GRI and ISO 26000. In the second part, through the presentation of Corinth Pipeworks S.A. case study, it will be compared how the above concepts (as well as GRI and ISO 26000) operate in a company’s real time and will be examined, how those practices have evolved in a three years’ time-period.