"Over the past 20 years, CSR has been given different labels. For example, the "triple bottom line" approach refers to the financial, environmental, and social performance of a corporation. The 3Es refer to the need for a corporation to assess its conduct in economic, environmental, and equity areas. These labels have generally given way to the label of CSR. In each case, however, the core idea is the same. A corporation should voluntarily go beyond its legal obligations in matters relating to labor and environmental standards, human rights, and community relations. It must not only comply with the law, it must act transparently to show that it has acted honorably. A combination of having high labor and environmental standards, of respecting human rights, and of fostering strong community relations has been collectively equated to sustainability.

The Commission of the European Communities made this connection quite explicit in its July 2002 white paper entitled Corporate Social Responsibility: A Business Contribution to Sustainable Development. The Commission argued that CSR would contribute to making Europe "the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and social cohesion."

The World Business Council for Sustainable Development has echoed that position in one of its key messages: "Business is good for sustainable development and sustainable development is good for business.""

                                                       7 Perspectives On Sustainability, page 51