During the last two decades, a new business philosophy and an innovating way of operating has grown of great interest and has been an issue of vital importance, both in the business world and in academia. This concept is known as Corporate Social Responsibility (CSR). The purpose of this paper is to investigate how students perceive CSR and its added value concerning the environmental management and protection. For this purpose, a field research has been conducted, addressed to students of Greek Higher Educational Institutions. Some of the findings derived are that there are differences in the perception of CSR and also a significant percentage of the sample connects CSR practices with the environmental protection. Furthermore, it has been noticed a surge for change and implementation of CSR subjects from the part of Higher Educational Institutions. Finally, certain proposals have been made from the students’ part so as to help future generations preserve and protect the environment.