Deloitte has just released a whitepaper on developing corporate responsibility and sustainability strategies. The paper offers information on the risks and rewards of such strategies.

As a consulting firm, Deloitte offers a variety of services. It has relatively recently began advising clients on the benefits of sustainability.

With business practices under increasing scrutiny by regulators, analysts, media and stakeholders, corporate responsibility and sustainability (CR&S) is fast becoming a critical issue for companies. Yet confusion exists over CR&S and the best approaches to it. Is CR&S mainly about charity? ‘Green’ business? Human rights? Pro bono work? All of the above?

This paper offers insight into why a strategically driven CR&S program is critical to a company’s survival — beyond the ‘feel good’ factor of charity — and outlines a suggested CR&S approach.

Among the questions addressed in the paper:

• Where should companies focus their CR&S initiative?
• What activities should they be reporting on?
• What impact will CR&S have on their bottom line?
• What are the major risks?

The whitepaper is available for free as a PDF you can download from Deloitte’s website.