Corporate social responsibility and regulatory governance : by Peter Utting; José Carlos Marques; Palgrave Connect (Online

By Peter Utting; José Carlos Marques; Palgrave Connect (Online service)

The company social accountability (CSR) circulation has been instrumental in elevating wisdom that agencies have duties except to their vendors and 'the backside line'. but regardless of the entire speak about the significance of stakeholders, transparency, company citizenship and sustainability, the developmental and regulatory affects of CSR stay hugely questionable. This publication assesses the worldwide upward thrust of private Read more...

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They can make an important contribution by collaborating with their supply chains and requiring their partners to meet high environmental standards. The most advanced com­ panies now carry out life cycle analyses for their products, and are introducing routines that include requirements for their subcontractors. Climate change is creating new challenges, and national authorities and the private sector have a shared responsibility for addressing them. The authorities are responsible for establishing a framework that will promote innovation and costeffective solutions.

If suppliers have to meet requirements relating to working conditions and environmental issues, and ensure that subcontractors meet similar require­ ments, they can be held accountable. The challenges that arise vary between compa­ nies and products. Rather than seeking to delimit its responsibilities, it is more important for a com­ pany to look into the risks of violations of human and workers’ rights or adverse impacts on the envi­ 40 Report No. 10 to the Storting Corporate social responsibility in a global economy ronment at different stages of production proces­ ses, including the production of factor inputs.

Certain countries, including the US, have defi­ ned complicity in their domestic legislation, and have given the courts broad jurisdiction to assess alleged human rights violations in connection with companies’ operations abroad. Through due diligence, for instance by carry­ ing out risk assessments, companies can ensure that they are not complicit in human rights viola­ tions or other negative impacts of their own opera­ tions. Risk assessment should be used both for a company’s own activities and for those of its busi­ ness partners.

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