[CSR] is an inseparable part of rebuilding a globally competitive European economy on the basis of innovation, trust and European values... It has both an internal European dimension as well as a broader global dimension, and although it can generate costs, for a company the potential benefits are considerable...Inside the [EU], we are working on common standards for the provision of information on CSR; for firms operating across the world, we are building on the basis of the UN guiding principles...[T]hese measures...increase transparency...Beyond CSR, the European Commission supports the creation of a favourable environment for social business...[which] contribute to social cohesion, employment and the reduction of inequalities.