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Corporate Social Responsibility: Balancing Profit and Stakeholder Responsibilities

This overview of Corporate Social Responsibility (CSR) delves into the intricate web of laws and codes governing corporate conduct—both formal and informal. It explores how businesses can align their operations with national and international legislation while meeting stakeholders' needs, including employees, customers, and society at large. The role of soft law, global standards, and industry-specific codes of conduct is examined, illustrating how they contribute to good corporate citizenship and compliance. The balance between profit generation for shareholders and social responsibilities is crucial for sustainable business practices.

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Corporate Social Responsibility: Balancing Profit and Stakeholder Responsibilities

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  1. Topic 3. Corporate Social Responsibility: Codes and Laws Profits `bottom line’ to shareholders Responsibilities to stakeholders (employees, customers, clients) to society (needs and values): good citizenship via Laws/Regulations national transnational? global? via `Soft law’ / Codes of Conduct IBSR Topic 3

  2. Formal Law / Regulation • International: negotiated by governments • binds states, obligation to implement • national law binds legal persons • Transnational • overlapping jurisdictions & laws • Home state law may apply to • branch/ subsidiary /contractor /franchisee • Host State Law may extend to • Parent/ foreign investor/ franchisor IBSR Topic 3

  3. Supranational Law Dualist: specific legislation under national law Monist: treaty may be directly applicable only `self-executing’ provisions e.g. WTO rules create no rights/duties for firms Direct Incorporation into National Law European Communities Act general incorporation: e.g. Tax treaties subsequent law may `override’ only if explicit conflict with prior incorporated treaty interpret national law to comply with international obligations IBSR Topic 3

  4. Global CSR Standards: 1. Treaty e.g. Labour Standards: ILO Conventions now 180+ Conventions, binding on states which ratify All members must submit new standards to competent authority for adoption supervising implementation: http://www.ilo.org/ monitoring compliance/ enforcement: country reports Committee of Experts on Application Art. 24 Representations by workers/employers organisations Art 26 Complaints by other Member States Application to Firms indirect, hence variable Minimum Standards IBSR Topic 3

  5. 2. Global Standards: 2. Codes Directly aimed at firms Not (immediately) binding: `soft law’ may be enacted into national law compliance monitoring procedures Inter-Governmental Organisations - IGOs e.g. ILO : Recommendations Declarations Codes of Conduct Non-Governmental Organisations - NGOs: SW Industry and Corporate Codes: SOCMA IBSR Topic 3

  6. General Codes ILO: Tripartite Declaration on MNEs 1977 OECD: Guidelines for MNEs 1976 Annex to Declaration & Decisions (NT, Investment Incentives) CIIME - BIAC - TUAC monitoring National Contact Points Periodic Reviews - 2000 Review United Nations Code of Conduct for TNCs (Draft) UN Global Compact 2000 International Chamber of Commerce 1974, 2000 IBSR Topic 3

  7. Specific Codes Restrictive Business Practices UNCTAD Set of Principles & Rules for Control of RBPs, UNGA resolution 3563/1980 Expert Group, Review Conference (5th, 2000) OECD: Cooperation on RBPs Affecting Trade Recommendation 1967- (revised 1995) notification & consultation between national authorities Marketing Breastmilk Substitutes WHO Code, Assembly resolution 1981 monitoring by UNICEF and NGOs, IBFAN Financial Market Supervision Basel Committee on Banking Supervision BCBS IBSR Topic 3

  8. Corporate & Industry Codes Sullivan Principles: human rights (SA 1977) Rev. Sullivan The Shell Report: Sustainable Development http://www.shell.com IBSR Topic 3

  9. Enforcement & Compliance Internal: contractual monitoring Audit: specialist firms, e.g. SGS NGOs: as critics, or partners? Legal Status: links to treaty? IBSR Topic 3

  10. Legal Status & Compliance Codes can refer to & incorporate legal standards compliance with national law & ILO core standards amplification of international standard, e.g. bribery Codes can be backed by Law National: e.g. Australian Bill; UK CORE Billhttp://www.publications.parliament.uk/pa/cm200203/cmbills/129/03129.i.html Regional: EC Parliament proposal International Code monitoring audit, complaints, mediation, adjudication by IGO? e.g. ILO, UN Global Compact? role of civil society organisations: e.g. Transparency International TI IBSR Topic 3

  11. CSR Measures & Investment Treaties Treaty provisions on investor rights not responsibilities Deregulatory effect on host state laws National Treatment (NT): `like circumstances’? Anti-expropriation: regulatory takings, e.g. cancelling licence Specific exclusions: e.g. tax, sub-national measures General Exceptions lists reservation of specific regulatory powers No-Lowering of Standards clause IBSR Topic 3

  12. Integrating CSR into Global Rules Binding Rights, Non-binding Responsibilities? Framework Agreement, e.g. WTO package; WHO Tobacco Framework Convention presumed validity of national measures based on international standards (as for WTO-SPS, TBT) associated (optional) Plurilateral agreements Package Deal, including e.g. corporate governance Tax Cooperation Restrictive Business Practices Anti-Corruption & Illicit Practices Core Labour Standards? IBSR Topic 3

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