What is the responsibility of a commercial organization? Not too long ago, this question would generally have been answered in just two words: making money—for its owners, whether the business was privately held or publicly traded. But since then, straight-forward shareholder capitalism has been challenged by a new concept, sometimes labeled stakeholder capitalism, both broadening and deepening significantly what is expected of corporations. That important development marked the birth of Corporate Social Responsibility, and in this chapter, we will discuss the concept and analyze how it is embedded in the overall Corporate Affairs function. In a first step, we will establish an up-to-date common understanding of Corporate Social Responsibility. Next, we will look at three sets of principles which corporations are held to when it comes to how they conduct themselves and their business—beyond financials: Environment, Social, and Governance (ESG); Diversity, Equity, and Inclusion (DEI); and Shared Value. Looking then at the external framework, we will explain the universal standards set by the United Nations in the UN Global Compact and how companies’ efforts are measured, assessed, and critiqued (and criticized, sometimes even condemned). Finally, following the structure of these chapters introducing the individual areas of Corporate Affairs, we close with the role profile for a Head of Corporate Social Responsibility.