Corporate Social Responsibility (CSR) refers to self-regulated actions that a business can take to be more socially accountable to its stakeholders and the public in general. CSR activities are beneficial to society and the environment at large, rather than practicing destructive behaviors and actions. CSR initiatives can be broken down into four categories: environmental, philanthropic, ethical, and economic responsibility. Examples of CSR activities include charitable giving, fair-trade practices, reducing carbon footprints, environmental responsibility, supporting sustainable legislation, diversity, equality, and inclusion, and socially and environmentally conscious practices. Companies can measure their CSR activities using the EcoVadis Scorecard or other rating methodologies. CSR practices play a crucial role in attracting new customers, raising morale in the workplace, and appealing to both current and future investors. A properly implemented CSR concept can bring along a variety of competitive advantages, such as enhanced access to capital and markets, increased sales and profits, operational cost savings, and better anticipation of management and risk.