At least, conceptually.
Mary Crane asks on the Forbes, “So when your social responsibility agenda makes your company a target, is continuing your CSR program worth the headache?”
Keith Slack of Oxfam sees it differently on Putting Teeth in Corporate Social Responsibility. “Corporate social responsibility (CSR) has become a fashionable, if not particularly well-defined, term in recent years.”, Keith said adding, “A key component of the general discourse around CSR has been so-called multi-stakeholder initiatives, which bring together corporations, governments, and non-governmental organizations to talk about and in some cases develop mechanisms for addressing, particular areas of concern.”
Keith thinks the voluntary CSR initiatives are toothless and thus “lack any real enforcement mechanism for sanctioning corporations that fail to comply with the principles or standards promoted by the initiatives.”
” Putting teeth into CSR is a challenge. Incentivizing lenders and purchasers to care enough to recall their capital or cancel contracts if problems arise is a conundrum, but may be becoming easier to crack. Answering this question is about hitting corporations where they live—in the worlds of capital and markets—rather than in the comfortable confines of CSR dialogues. In this way, we can bite back some of the ability to hold corporations accountable that globalization has chewed away.”
Mary Crane asks on the Forbes, “So when your social responsibility agenda makes your company a target, is continuing your CSR program worth the headache?”
Keith Slack of Oxfam sees it differently on Putting Teeth in Corporate Social Responsibility. “Corporate social responsibility (CSR) has become a fashionable, if not particularly well-defined, term in recent years.”, Keith said adding, “A key component of the general discourse around CSR has been so-called multi-stakeholder initiatives, which bring together corporations, governments, and non-governmental organizations to talk about and in some cases develop mechanisms for addressing, particular areas of concern.”
Keith thinks the voluntary CSR initiatives are toothless and thus “lack any real enforcement mechanism for sanctioning corporations that fail to comply with the principles or standards promoted by the initiatives.”
” Putting teeth into CSR is a challenge. Incentivizing lenders and purchasers to care enough to recall their capital or cancel contracts if problems arise is a conundrum, but may be becoming easier to crack. Answering this question is about hitting corporations where they live—in the worlds of capital and markets—rather than in the comfortable confines of CSR dialogues. In this way, we can bite back some of the ability to hold corporations accountable that globalization has chewed away.”
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