Monday, January 26, 2004
Meanwhile back at the ranch...
The fallout from the ENRON affair ( see this book, How Companies Lie, for some details) continues in fits and starts. Meanwhile a Corporate Responsibility Bill is up before the UK parliament.
The bill has three main aims:
- Mandatory Reporting: Companies shall report against a comprehensive set of key social, environmental and economic performance indicators with which they can benchmark (and ultimately better manage) their operations and performance - here in the UK and abroad.
- Directors' Duties: Expanding current directors' duties to include a specific duty of care for both society and the environment, in addition to their current financial duty to shareholders.
- Foreign Direct Liability: To enable affected communities abroad to seek damages in the UK for human rights and environmental abuses committed by UK companies or their overseas subsidiaries.
Worth Supporting this Private Members bill?
The fallout from the ENRON affair ( see this book, How Companies Lie, for some details) continues in fits and starts. Meanwhile a Corporate Responsibility Bill is up before the UK parliament.
The bill has three main aims:
- Mandatory Reporting: Companies shall report against a comprehensive set of key social, environmental and economic performance indicators with which they can benchmark (and ultimately better manage) their operations and performance - here in the UK and abroad.
- Directors' Duties: Expanding current directors' duties to include a specific duty of care for both society and the environment, in addition to their current financial duty to shareholders.
- Foreign Direct Liability: To enable affected communities abroad to seek damages in the UK for human rights and environmental abuses committed by UK companies or their overseas subsidiaries.
Worth Supporting this Private Members bill?
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