Book excerpt: Corporate scandals and lack of confidence in our largest institutions mean that corporate social responsibility (CSR) now matters more than ever. Encroaching on CSR are concepts such as corporate sustainability and corporate citizenship, and older concerns with business ethics, business in society and the ethical corporation. This significantly revised and updated version of The Planetary Bargain explains the relations among these concepts and reflects the author's new ideas and their new context. Enterprises across the world are waking up to the need for social responsibility towards shareholders and potential investors, managers and other employees, customers, business partners and contractors or suppliers, the natural environment and the communities within which they operate, including national governments and non-governmental organizations. Drawing on case studies of international companies and analysis of research from the past two decades, The Planetary Bargain shows how corporations can preserve their profitability while treating all stakeholders ethically and responsibly. It suggests a cooperative CSR strategy which creates prosperity for corporations and for the people they serve. It presents the case for a worldwide agreement, or 'planetary bargain', between private and public sectors, arguing that it is good for business and essential for future prosperity and stability.