Voluntary Sustainability Standards for Corporate Social Responsibility

Abstract

Companies are increasingly being asked to take responsibility for the social and environmental impacts of their operations. These pressures from the market and consumers have led to an increase in demand for sustainable certification of processes and products, making the Voluntary Sustainability Standards (VSS) an issue present in businesses and global value chains (GVC). The adoption of voluntary standards provides mechanisms to face the threats and opportunities faced by companies in increasingly global environments that demand greater corporate social responsibility (CSR) mainly due to the interest of society and consumers for safe goods and services that do not harm the environment. In addition, consumers and companies are more likely to make purchase decisions based on ethical criteria, posing new governance challenges to improve transparency, accountability, and sustainability across chains. Participation in multi-sector sustainability alliances with diverse actors with a reputation for social and environmental responsibility helps to reduce accusations of “greenwashing” and a clear allocation of rights and responsibilities among market actors. Studies addressing VSS have been substantial and multidisciplinary and appear in many disciplines. Companies are increasingly being asked to take responsibility for the social and environmental impacts of their operations. These pressures from the market and consumers have led to an increase in demand for sustainable certification of processes and products, making VSS an issue present in business and GVC. The adoption of voluntary standards provides mechanisms to face the threats and opportunities faced by companies in increasingly global environments that require greater CSR, mainly due to the interest of society and consumers for safe goods and services that do not harm the environment. In addition, consumers and companies are more likely to make purchase decisions based on ethical criteria, posing new governance challenges to improve transparency, accountability, and sustainability across chains. Participation of the GVCs in multi-sector sustainability alliances with diverse actors with a reputation for social and environmental responsibility helps to alleviate charges of " greenwashing,” legalization, and a clear allocation of rights and responsibilities among market actors. Studies addressing VSS have been substantial and multidisciplinary and appear in many disciplines, including value chain management and operations, strategy, accounting, economics, and political science. This chapter links VSS to CSR and their contributions, including value chain management and operations, strategy, accounting, economics, and political science. This chapter links VSS to CSR and its contributions.