Whose responsibility is this

In days of greener environment and socially responsible companies spend substantial dollars in welfare projects ranging from waste treatment, social welfare to contributions. The rise in the corporate conscience can be plotted back to the idea of social responsibility and its growing importance. Companies have come to realize that by not being socially responsible, they undermine the image of the company, run the risk of losing market share and more importantly alienate potential investors.
Popular web definitions of Corporate social responsibility (CSR) define CSR as a concept that organizations, especially (but not only) corporations, have an obligation to consider the interests of customers, employees, shareholders, communities, and ecological considerations in all aspects of their operations. But is the management of the corporation collectively responsible for deploying corporate funds in social causes or in turning the organization into a greener entity? Will this be justifiable to the investing shareholders? Sure, the entity is responsible for clean accounting practices, quality of its product and any adverse effects on its consumers, not polluting its environment and fair and ethical treatment of its employees. But should a corporation be held responsible for the development of community? If yes what could be the justification for such investments given that these are typically not for profit?