Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Corporate social responsibility definition

What does Corporate social responsibility mean? Corporate social responsibility (CSR) describes, in legal practice, how a company structures its policies, governance and reporting so its commercial activities seek positive or responsible outcomes for the environment, consumers, employees and other stakeholders, alongside profit. Also called corporate responsibility or corporate citizenship, it is a descriptive concept used across corporate governance, compliance and shareholder stewardship, rather than a defined statutory term. United Kingdom (England & Wales, Scotland and Northern Ireland): while CSR itself is not legislated, boards must have regard to stakeholder and environmental factors under Companies Act 2006 section 172. Related requirements include the strategic report (non-financial...

Drafting and implementing a corporate code of ethics: practical guidance for in-house lawyers on culture, compliance and conduct

Published by a LexisNexis Risk & Compliance expert

Practice notes

This Practice Note outlines how ethics intersect with business and clarifies the aim and substance of a code of ethics. It is designed to assist you in deciding what to include in your own code of ethics, and to set the scene for our Precedents.

Ethics and business ethics

Ethics are the moral principles that steer our behaviour and judgements, enabling us to recognise what is right or wrong. Though connected, ethics and the law are not equivalent. The law defines the minimum mandatory standard of behaviour, whereas ethics reaches beyond this and expects a higher level of conduct.

Business ethics concern the application of ethical values to business activities and functions. This applies both to individual conduct and to organisations as complete entities. Any organisation can choose to operate ethically, taking decisions because they are the right thing to do, rather than concentrating on short‑term profit.

Whether an organisation is considered ethical will depend on a mix of elements, for example:

the type of products or services it provides
priorities, goals and values
reputation
treatment of staff and customers...

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Web page updated on 21/05/2026

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