EC: Proposed CSR Strategy

The European Commission has published a communication titled “A renewed EU strategy 2011-14 for Corporate Social Responsibility,” which proposes a new definition for CSR as “the responsibility of enterprises for their impacts on society”. In this connection, a CSR action agenda for the period covers eight areas, including: - leveraging EU policies in the fields of consumption, investment and public procurement to promote market rewards for responsible business conduct;
- improving company disclosure of social and environmental information; and
- better alignment with global approaches to CSR, such as the OECD Guidelines for Multinational Enterprises, the UN Global Compact, the UN Guiding Principles on Business and Human Rights, the ILO's Tri-partite Declaration of Principles on Multinational Enterprises and Social Policy, and the ISO 26000 Guidance Standard on Social Responsibility.