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In Europe, the concepts of corporate social responsibility (CSR) and sustainable development (SD) are closely linked. Yet this approach to CSR has only taken shape in the last ten years and it is not shared by everyone. The objective of this article is to present the different stages of the CSR and SD “coupling” process, highlighting the role of “institutional entrepreneurs” (WBCSD and SustainAbility), who have contributed along towards the institutionalization of big businesses as actors in SD and to analyze its challenges and limits. The major challenge faced by the CSR-SD coupling is the political role attributed to big businesses in terms of international regulation in the absence of real global governance and international company law.