ESG, CSR, CSI, DEI, etc.! What to call your business's charity and volunteering activities

If you are a business owner, executive, or business leader working to make the world a better place through corporate giving and volunteerism, you may find yourself wondering how to make sense of it all. With so many terms thrown around that are used to describe business activities in philanthropy, which one can you use to help you benchmark and improve your company's Corporate Social Responsibility programs? Sometimes it's referred to as Corporate Responsibility and other times it's corporate citizenship or ESG. What is the difference of all these terms, or is there a difference at all? We hope to clear up some confusion on the topic of terminology in corporate philanthropy. 
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Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) is an approach taken by many businesses to actively support and contribute to the betterment of their local and global communities. This could be done through activities such as volunteering, financial donations, or by creating and implementing sustainability initiatives. CSR can be seen as a business-wide commitment to conduct business responsibly and ethically, as well as to ensure that the business is taking into account the impact of its decisions on the environment, society, and its stakeholders.

Corporate Responsibility
Corporate Responsibility is often used interchangeably with CSR, however, it is actually a broader term that encompasses the environmental, social, and economic responsibilities of a company. Corporate Responsibility is more focused on long-term initiatives that can benefit all stakeholders, such as investing in local job creation, reducing environmental impact, and promoting diversity and inclusion.

Corporate Citizenship
Corporate Citizenship is a term that is used to describe a company’s commitment to ethical and responsible business practices. This can involve activities such as supporting local charities, taking part in community-based initiatives, or by investing in social and environmental projects.  Being a good corporate citizen means taking responsibility for the impact of your business on the environment, society, and economy. It also means taking responsibility for any negative impacts your business activities may have, and working to mitigate and address those impacts.

Corporate Social Investment (CSI)
Corporate Social Investment (CSI) is a term that is used to describe a company’s commitment to investing in projects and initiatives that have a positive impact on the community. Corporate social investment is when companies invest their resources, such as their time, money and knowledge, into programs and initiatives that are aimed at improving the lives of people in their local community. This can be done through a variety of ways, such as providing volunteering opportunities, providing educational or training programs, or providing financial support to those in need.

Corporate Giving or Corporate Philanthropy
Corporate Giving and Corporate Philanthropy are terms used to describe a company’s commitment to donating to charitable causes. This could include activities such as donating money, providing volunteer services, or sponsoring local events.

Cause Marketing
Cause marketing is a marketing strategy that combines the goals of a for-profit company with the mission of a non-profit organization or cause. It allows businesses to give back to their communities and support important causes, while also promoting their own products and services. companies can also partner with non-profit organizations to create campaigns and events that support a specific cause. These campaigns can be multifaceted and include things such as social media campaigns, special events, and even product sales.
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Community Investment
Community Investment is a term used to describe a company’s commitment to investing in local initiatives that benefit the community. This could include activities such as offering internships, providing financial support to local schools, or investing in community development projects.

Environmental, Social, and Governance (ESG)
Environmental, Social, and Governance (ESG) is a term used to describe a company’s commitment to conducting business in a manner that is environmentally, socially, and economically responsible. Environmental considerations include reducing carbon emissions, conserving natural resources, and reducing pollution. This can be monitored through energy and water use, waste management, and other activities. Social considerations include promoting diversity and inclusion, supporting employee wellbeing, and engaging in responsible labor practices. This can be done through surveys, listening to employee feedback, and providing resources and support. Lastly, Governance considerations include ensuring ethical business practices, transparency in operations, and promoting sustainability initiatives.

Impact Investing
Impact investing is a type of investing that focuses on achieving both financial returns and positive social or environmental impacts. It is a form of investment that seeks to generate a measurable, beneficial social or environmental effect alongside a financial return. Impact investing can be used to fund a variety of projects, from renewable energy to affordable housing and health care. For example impact investing can fund affordable housing projects by providing housing that is affordable to lower-income households at a lower return than they may get in market rate housing. By investing in these projects, investors can help to address the issue of poverty and provide a safe and comfortable living environment to people who may not otherwise be able to afford it.

Social Impact
Social impact is a measure of the positive and negative influence a company has on its local, regional and global communities. It is often used to evaluate the effectiveness of a company's CSR initiatives, such as its environmental policies, charitable contributions, and other activities. Social impact can be measured in terms of the number of people affected, the amount of resources used, and the long-term effects of the company's actions. 

Diversity, Equity, and Inclusion (DEI)
DEI stands for Diversity, Equity, and Inclusion. It refers to the conscious and intentional efforts made by companies to create a culture that embraces and celebrates the differences among employees. DEI aims to foster an environment where everyone feels valued, respected, and supported, regardless of their race, ethnicity, gender, sexual orientation, religion, nationality, or any other characteristic that makes them unique. DEI is important for a company because it creates a competitive advantage by attracting and retaining top talent, improving employee morale and engagement, enhancing the company's reputation, and increasing innovation and creativity. When employees feel valued and respected, they are more likely to be motivated, productive, and committed to the company's mission and vision.



All of these terms are used to describe a company’s commitment to conducting business in an ethical and responsible manner. Each of these terms has its own focus and purpose, but ultimately, they all share the same goal of creating a better environment for all stakeholders. Companies have the potential to make a real difference in the lives of those around them and in the community as a whole, and this cannot be done without investing in the community.  By investing in strategic philanthropy, companies will be able to demonstrate that they are taking a responsible and sustainable approach to business operations. This can help them to stand out in the marketplace and build trust with stakeholders, customers, and employees.