Corporate Social Responsibility in Biotechnology Companies: Ethical, Environmental and Physical Implications

Abstract

The biotechnology sector, renowned for its groundbreaking advancements, is increasingly subject to examination regarding its ethical and environmental obligations. The present study examines the ethical and environmental aspects of Corporate Social Responsibility (CSR) in the context of biotechnology companies. The objective is to gain a deeper understanding of how these firms can effectively integrate scientific advancements to promote societal and ecological welfare. Our comprehensive study encompasses various aspects, such as corporate social responsibility (CSR) initiatives, ethical dilemmas, environmental impacts, stakeholder perspectives, and best practices. The study's results emphasize the importance of ethical clinical trial practices and community engagement, the frequency of ethical dilemmas associated with gene-editing technologies, and the significance of energy consumption and the ecological consequences of genetically modified organisms (GMOs). Furthermore, various stakeholders, including employees and the community, perceive corporate social responsibility (CSR) as productive. This study enhances our comprehensive comprehension of the transformative capacity of Corporate Social Responsibility (CSR) within the biotechnology sector. It guides conducting responsible scientific research and deploying technology to advance societal and environmental well-being.