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Glossary

Here, you will find definitions and explanations of some of the terms used in the CSR Compass.

CSR principles: Internationally recognised principles for environmental, social and economic sustainability, i.e. human rights, including labour rights and principles for protection of consumer interests, as well as principles for the protection of the environment and promotion of anti-corruption. A company's work to comply with these sustainability principles is also called Corporate Social Responsibility (CSR).

You can find the most important CSR principles here.

CSR performance: The company's current CSR performance, i.e. respect for human and labour rights and consumer interests, environmental impacts and anti-corruption. CSR performance thus reflects the company's degree of compliance with the CSR principles. 

Code of Conduct: Code of Conduct means "guidelines for how we do things". The company's Supplier Code of Conduct describes the CSR requirements the company makes of its suppliers' CSR activities, and thereby the basis for responsible supply chain management. 

Adverse impact: An adverse impact arises when the company's activities or lack of them infringes the internationally recognised CSR principles. Every company will have an adverse impact on certain CSR principles, and the company is therefore expected to be familiar with this impact and be able to show what it does to handle it. 

CSR risks: Risks of adverse impacts on CSR principles.

CSR obligations: The company's own obligations to respect internationally recognised CSR principles.

CSR policy: The company can publish CSR obligations as one or several CSR policies.

Due diligence: The processes that the company is expected to have in place in order to identify the areas in which it might have an adverse impact on CSR principles; and in order to prevent and mitigate any adverse impact; and finally, to be able to report on the company's activities to handle adverse impacts. In terms of process requirements, reference is therefore made to the requirements that the company makes of its suppliers' due diligence processes.

Remedy: Remedy concerns taking care of people who are affected by adverse impacts on CSR principles that the company has caused or contributed to.

6 phases

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