By Peter Utting; José Carlos Marques; Palgrave Connect (Online service)
The company social accountability (CSR) stream has been instrumental in elevating information that corporations have duties except to their vendors and 'the backside line'. but regardless of all of the speak about the significance of stakeholders, transparency, company citizenship and sustainability, the developmental and regulatory affects of CSR stay hugely questionable. This e-book assesses the worldwide upward push of private rules and CSR from the viewpoint of social and sustainable improvement. through adopting a multidisciplinary lens, it examines why the adventure of CSR pales compared to the promise, what should be performed to handle 'the highbrow situation' of CSR, and kinds of company responsibility and rules extra conducive to inclusive styles of development. �Read more...
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Additional resources for Corporate social responsibility and regulatory governance : towards inclusive development?
By being at the forefront of developments in this area, companies can achieve lower costs, an improved strategic starting point for their long-term operations, and new market opportunities. The private sector should therefore have considerable self-interest in integrating an environmental perspective more fully into its activities. The private sector can help to mitigate environ mental problems by making its own operations more environmentally friendly and by making effi cient use of resources.
A number of Norwegian financial institutions have therefore introduced CSR criteria as a basis for their investments. Investors and fund managers have used the term socially responsible investment (SRI) to describe investments where financial returns are an important aim, but where ethical and environ mental requirements are also taken into account. Responsible investment (RI) is a term that is increasingly used to describe the inclusion of envi ronmental considerations, social conditions and good corporate governance in fund management.
Companies are responsible for ensuring that employees are provided with conditions that are at least in line with international minimum standards. Companies are expected to assess the risks relating to forced labour, child labour and workplace discrimination, and to take the necessary precautions to minimise such risks. Freedom of association, freedom of expression and freedom of reli- 38 Report No. 10 to the Storting Corporate social responsibility in a global economy gion and belief are also rights that companies should respect.