Table of Contents

International Documents on Corporate Responsibility

International Documents on Corporate Responsibility

Edited by Stephen Tully

International Documents on Corporate Responsibility includes the principal international, regional and national instruments drafted by intergovernmental organisations or states as well as codes of conduct formulated by industry associations, trade unions and non-governmental organisations. The coverage includes the fields of human rights, international criminal and environmental law, labour standards, international trade, armed conflict, sustainable development, corruption, consumer protection and corporate governance. Each document is accompanied by a brief explanatory commentary outlining the historical origins of the instrument, the principal actors involved, controversial negotiation issues, applicable implementation procedure, and identifies further reference material.

Chapter 125: Additional initiatives

Edited by Stephen Tully

Subjects: law - academic, company and insolvency law, corporate law and governance

Extract

i. An Interfaith Declaration: A Code of Ethics on International Business for Christians, Muslims and Jews, 1993 Commentary: A series of Interfaith consultations commenced in 1988 between theologians, academics, businesspersons and government officials to identify ethical business principles common to Christianity, Islam and Judaism. The process of formulating guidelines occupied five years and drew upon best commercial practice and the shared moral, ethical and spiritual values of the Abrahamic tradition. The Declaration (available through www.iit.edu/departments/csep/codes/coe/cmj_codes.html) is constructed around four key concepts: justice (fairness), mutual respect (love and consideration), stewardship (trusteeship) and honesty (truthfulness). It also recognises distinctions between the morality of different economic systems in which business activity occurs, the policies and strategies of particular organisations, relationships between shareholders and directors and finally, individual employee behaviour. Several ethical issues affect all commercial activities whereas others are unique to specific sectors. The primacy of national law is also acknowledged. The Declaration is expected to be endorsed by management, incorporated into company statements or codes of conduct and promoted during training. See further, Webley S. (1999), ‘Values inherent in the Interfaith Declaration of International Business Ethics’, in Georges Enderie (ed.), International Business Ethics: Challenges and Approaches, Notre Dame, IN: University of Notre Dame Press, pp. 356–75. ii. Taskforce on the Churches and Corporate Responsibility: Principles for Global Corporate Responsibility, 1998 Commentary: The Taskforce on the Churches and Corporate Responsibility (Canada), the Ecumenical Council for Corporate Responsibility (UK) and the Interfaith Centre on Corporate Responsibility (USA; www.iccr.org) first drafted ethical business...

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