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The aim of our article is to study the existing practice of CSR in the context of Lebanese industrial companies, examining the relationship between CSR practices and risk management by making use of statistical techniques. It is in this latter domain that the major contribution of this article has been made. This research has made it possible to understand CSR as more than just a marketing and public relations tool but also as something that can really influence risk management in companies. Our research broadens the knowledge base in this field in the Lebanese context, focusing on the management and practices of companies when it comes to risk in order to better manage the social, environmental, and community impacts of their activities through CSR.