Good practices in corporate social responsibility: the case of EDP

Abstract

In a world each day more aware of the impact that businesses have on society and the environment, stakeholders demand companies to take responsibility for their actions and adopt ethical and sustainable initiatives. Thus, Corporate Social Responsibility (CSR) is becoming a crucial strategy in businesses for effectively addressing and communicating their impacts to all the groups that influence and are influenced by them. In this context, this study aims to analyse the CSR initiatives and reporting of EDP - Energias de Portugal, S. A., an energy company which is renowned in its sector due to its sustainability. For that, I will elaborate on the concept of CSR and its evolution from a philanthropic approach to a required model for driving long-term value creation and business accountability. The concept of Environmental, Social and Governance (ESG) criteria will also be explored, as well as various frameworks for sustainability reporting. I will then apply the metrics of the World Economic Forum’s report to EDP’s environmental, social and governance policies and exhibit the results.