The Chemicon Company produces a range of industrial fertilizers and insecticides for sale to agricultural businesses, farmers and the general public. The items, some of which are extremely toxic, are produced under controlled environmental conditions to avoid accidental spillages and contamination. This requires Chemicon to invest in air filtration systems and increases their use of water. Chemicon also conducts extensive research into new products, although details of current research projects are currently kept secret to avoid their competitors obtaining knowledge of those projects.
As part of its philanthropic obligations to society, Chemicon recently announced the free distribution of insecticides and fertilizers to farming projects in Africa which had been devastated by locust swarms. Chemicon is moving to new, organic- based products and is trying to reduce its dependence on artificial chemicals. This has meant some reductions in efficiency but is believed to be more beneficial in the longer term.
Chemicon's annual report meets statutory and governance requirements for reporting. However, there is little additional information on the company as the directors consider this to be expensive and of limited value.

Required:
(a) Discuss the benefits of the voluntary provision of information in annual reports to exceed the statutory and governance minimum guidelines.
(b) Explain the term corporate social responsibility.
(c) Discuss the information that Chemicon could include in any CRS report, describing performance indicators that could be used to ensure CRS objectives had been met.