CSR stipulates that companies should not merely maximise profits, but seek economic growth in a socially and environmentally sustainable way. It is increasingly seen as a business imperative as much as a moral principle, and the global network of auditing and advisory, KPMG, reported in 2011 that 95 per cent of the 250 largest companies in the world report on their CSR activities.

In 2007 Sweden became the first country in the world to demand from its state-owned enterprises to report on their sustainability efforts. The then Minister of Enterprise, Maud Olofsson, explained the reason for introducing the guidelines: ‘It is essential that the state-owned companies should set an example.’ This was a breakthrough for Swedish CSR work.

Swedish CSR pioneer - Sandvik's CSR pioneer Göran Fredrik Göransson.

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