The UN Global Compact: An Overview of the Promise and Pitfalls

Nathan Andrews ()
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Nathan Andrews: University of Northern British Columbia

A chapter in The Palgrave Handbook of Corporate Social Responsibility, 2021, pp 865-885 from Springer

Abstract: Abstract Up until the late 1990s and despite preexisting normative mechanisms for corporate conduct, the essence of corporate social responsibility (CSR) was questioned due to multiple allegations of gross corporate misconduct and malpractices around the world that went unchecked. As part of global campaigns by civil society and other stakeholder groups to monitor, report, and possibly regulate the activities multinational corporations, the UN Global Compact was established in 2000 and is now a leading global CSR initiative. While much success has been achieved over the last two decades via its reliance on multistakeholder partnerships, the initiative also faces a number of significant setbacks that impede its change-driven agenda. This chapter provides an overview of the UN Global Compact, its practical relevance as a global governance mechanism as well as the challenges it encounters in delivering its promise. The evidence provided suggests that leadership in CSR and sustainable development is best measured both in principle and in practice, particularly with demonstrable positive impacts on the lives of beneficiaries.

Keywords: UN Global Compact; Global governance; Corporate social responsibility; Multinational corporations; Sustainable development; Communities (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-42465-7_75

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DOI: 10.1007/978-3-030-42465-7_75

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