The responsibilities of transnational
corporations today are defined by established instruments,
such as the UN Universal Declaration of Human Rights,
and Agenda 21 which provide a values framework for corporate
activity and a global plan of action for sustainable development.
If corporations press for multi-lateral trade and investment
agreements for their financial protection, they should
be expected to accept a reciprocal international duty
of care for their impact on the human, social and physical
environment.
George Montbiot referred to multi-national corporations
as the "new aristocracy of the 21st century".
Because corporations have significant social and environmental
impacts, and because they are wealthy and powerful, their
responsibilities have a crucial bearing on the future
of the planet and its people. Notwithstanding the fact
that many companies today are more influential than whole
countries, they remain accountable only to their shareholders,
whose sole criterion is dividends. This entrenched situation
is the same as saying that the entire bushveld exists
only to serve the lion king. Which, of course is neither
desirable nor sustainable. So unless enough social pressure
can be exerted and today's perverse economic incentives
corrected, our modern economies will continue to function
like planet guzzling monsters engaged in an unsustainable
feeding frenzy. (An Environmental Perspective - Unmasking
the Myths of the Predatory Lion Economy - Wayne Visser.)
Good corporate citizenship requires:
• Compliance to laws and minimum standards
• Identification and minimisation of negative impacts
and risks
• Identification and development of positive impacts
..and
business opportunities
• Regular and transparent engagement of the
..companies'
shareholders, including civil society
..organisations
and neighbouring communities |
Corporate Accountability
