Corporate social responsibility (CSR) may be defined briefly as the responsibilities of corporations towards actors other than their shareholders, including human rights, environmental and other areas.

CSR has entered the discourse of governments, corporations, activists and public relations folk. This site is all about determining the content of responsibilities, identifying the stakeholders to which corporations are responsible and strengthening enforcement mechanisms whether legal or extra-legal. We also hope to move beyond CSR towards Corpobligation (Corporate Obligation). Corporations have obligations under the law and under customs of the market and their codes of conduct. The nature and boundary of these obligations are set by international organizations, governments, corporations, NGOS, unions, civil society, and you!

The Global Reporting Initiative is the best known and most accepted corporate reporting standard. Currently, G3 is the most up to date standard and it attempts to balance the benefit and costs of a universal standard. The more universal standard, the easier it is to compare and track a corporations performance versus other corporations. However, a one-size-fits-all approach becomes ridiculous when you are trying to compare a bank and an oil company. There are inherent industry , product, regional and other differences that will set certain baselines for best industrial practices.

G3 serves at least two important roles: it creates momentum for CSR or sustainability reporting, and it ensures that corporations will receive reputational benefits for reporting and complying with CSR standards.

Corpobligation is pleased to announce a new initiative in Ottawa-Gatineau, Canada, to promote Composting Now Everywhere

Corpobligation hopes to influence consumers and businesses to improve their composting efforts and exceed existing programs in cities like Toronto. The initiative will involve NGOs in the Ottawa-Gatineau area as well as business and civil society organizations.

"Composting is possible in almost any size home, business or apartment" states Mathieu Jacques, the Composting Now Everywhere Co-Coordinator, "the key is to get knowledge and composters into the hands of consumers and businesses."

"How can I compost in a business or apartment building?" "Doesn't it smell?" These are just some of the doubts that need to be overcome before composting comes into its own. Ottawa is a prime location for testing new initiatives because of its educated population and its strong connections with nature through Gatineau Park, Quebec and many outdoor sporting activies including the longest skating rink in the world (Rideau Canal) and a world class ultimate league that fields over 70,000 playes per year (OCUA).

CO: Corruption may not inspire the same crusading spirit as torture or suppression of freedom of expression, but the impact on a countries political-economic fortunes may be huge.

• AKERE MUNA of Transparency International writes of a rare success story that saw Frederick Chiluba ordered to repay 39 million to the Zambian government for corruption.
• He calls for the G8 to take steps to clamp down on corruption: "This means co-operating with investigators in African countries to trace, freeze and return stolen assets. It also means closing loopholes in national legislation that allow the anonymous transfers of funds to offshore centres."
• Transparency International was instrumental in pushing for the United Nations Convention against Corruption, which Canada has yet to ratify.
• The downside of this anti-corruption movement is of course that it is getting harder to be a dictator...

CO: Undoubtedly, corporations taking steps to reduce their ecological footprints are a step in the right direction, but how can we judge corporate sincerity?

• “Coca-Cola, the world's largest beverage maker, intends to make up for the 290 billion liters (76 billion gallons) of water…the company and its bottlers use each year to make Coke, Sprite, Fanta and other drinks.”
• Can Coca-Cola be present in China without condoning human rights and environmental abuses?
  
• Coca Cola has a delicious flavour but it may leave a bitter taste in its workers throats, as seen in its union relations in Columbia - Coke's Columbia site
  
• Coke has stated: "Freedom of Association and Collective Bargaining
  The Company respects our employees' right to join, form or not to join a labor union without fear of reprisal, intimidation or harassment. Where employees are represented by a legally recognized union, we are committed to establishing a constructive dialogue with their freely chosen representatives. The Company is committed to bargaining in good faith with such representatives."
• Coca Cola recently won the Polaris Institute's Corporate Greenwashing Award
• ** Full disclosure, this author drinks more Coke than his teeth would prefer.
  

CO: Corporations and their directors are accountable to shareholders. Directors' have a fiduciary duty to the corporation, which is mostly noticed when things go wrong: Enron, Hollinger and Conrad Black, Nortel's $2.5 billion settlement and the passage of Ontario's Bill 198.

• Extensive list of links around corporate governance defined broadly
• Canadian Coalition for Good Governance

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Shareholder Association for Reserch and Education presents a Pension Investment & Governance Seminar Series

Securities Class Actions & Trustees Fiduciary Responsibilities – June 14 in Toronto

In the wake of Nortel's $2.5 billion settlement and the passage of Ontario's Bill 198, fiduciary duties for trustees are changing. With investors successfully suing companies to recover losses caused by corporate wrongdoing, are trustees and other fiduciaries who fail to act in breach of their responsibilities?

This seminar will help pension trustees and other fiduciaries evaluate the governance and legal implications of these trends for their pension and investment funds. Presenters will look at the role of shareholder litigation in strengthening corporate governance; the implications of U.S. settlements for Canadian funds; as well as Canadian and international experiences with secruities class actions and shareholder litigation.

Join us to hear from Canadian and international pension and legal experts from Grant & Eisenhofer, Koskie Minsky and the Osgoode Hall Law School. Pension trustees who have been involved in securities litigation in Canada, the U.S. and the UK will also share their experiences.

The seminar will take place from 8:00am to 4:45pm in the East Wing Room at the Osgoode Hall Professional Development Centre located at 1 Dundas Street, 26th floor.

Click here to view the complete seminar program.

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