Corporate social responsibility: a new approach to promoting integrity and responsibility

Abstract

Appraises the effectiveness of corporate social responsibility (CSR) initiatives. Explains what is meant by CSR. Surveys some of the voluntary CSR codes adopted by various companies and notes the introduction of an element of CSR into directors' duties in the UK by the Companies Act 2006 s.172. Reviews some multi-stakeholder CSR programmes and international codes, including the OECD Guidelines for Multinational Enterprises and the UN Global Compact. Criticises the narrow sector focus and lack of enforcement of many such codes. Suggests that a binding regulatory framework for CSR be developed.