In recent years, increasing attention has been given to
the concept of corporate social responsibility (CSR)
as a postulate for ethical behaviour of business and as
a basis for good corporate citizenship. Amidst shocking
evidence of large-scale corporate irresponsibility
and fraud on both sides of the Atlantic (see the topical
cases of e.g. Enron and Parmalat), there is insistence
that business can and should act in a manner that respects
the legitimate goals and demands of all stakeholders.
A wide array of initiatives abound in terms of
public-private partnerships, both at the country level
and within the UN system;1 cross-border corporate
coalitions such as the World Business Council for Sustainable
Development (WBCSD) or the International
Business Leaders Forum (IBLF); global conferences,
studies and workshops; social standards, labels and
related monitoring mechanisms; fair trade groups; and
socially responsible investment funds.