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Regulating Corporations
Abrahams, Desiree
Abrahams, Desiree
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guideCSR3doc.pdf
Adobe PDF, 776.03 KB
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Abstract
"The Oxford English Dictionary (OED) defines regulation as “a rule prescribed for the management of some matter, or for the regulating of conduct; a governing precept or direction; a standing rule” (OED 2001). In accordance with this definition it would seem that business needs regulation in order to conduct its activities. The definition suggests that rules are required in order to facilitate management and determine the course of action. It also indicates that such a code of discipline should be observed. Using this definition, this report seeks to disentangle the multifarious regulatory world that relates to transnational corporations (TNCs). It focuses on regulations related to the working activities of TNCs that affect social, environmental and human rights. It does not address issues traditionally associated with corporate governance or financial aspects. Following a brief historical introduction, the report identifies and describes relevant regulatory initiatives, classifying them into four categories that reflect different regulatory approaches, and listing them alphabetically.1 The following categories have been adopted: corporate self-regulation, multilateral regulation, civil regulation and multistakeholder initiatives, and national laws that have cross-border implications for TNCs. A final section identifies a number of regulatory proposals that have recently been put forward by various organizations and actors. The area of regulation related to the social, environmental and human rights responsi-bilities and obligations of TNCs is immense and continually growing. This report does not claim to be exhaustive. Rather it aims to document some of the main regulations that are international in scope. Given the concentration of both TNCs and international regulatory initiatives in the global North, there is only limited reference to regulatory initiatives that have evolved in Southern countries. Evidently, Southern inspired regula-tions that affect TNCs are an area of research that requires further attention."
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2004-07
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With permission of the license/copyright holder