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Document Type

Symposium

Publication Date

Winter 2009

Publication Citation

16 Indiana Journal of Global Legal Studies 223 (2009)

Abstract

Many multinational companies and financial institutions have adopted corporate social responsibility programs, often relying on the implementation of international voluntary initiatives. This article describes two such mechanisms. The first, the Equator Principles, provides guidance to financial institutions involved in project finance. The second, the Organization for Economic Cooperation and Development's Guidelines for Multinational Enterprises, helps governments to encourage businesses to be socially and environmentally responsible. This article suggests means by which voluntary initiatives can be implemented to benefit both the wider community and companies themselves. It also suggests ways of overcoming shortcomings resulting from the lack of access to formal legal sanctions when implementing voluntary initiatives.

Operationalizing Global Governance, Symposium. Indiana University Maurer School of Law-Bloomington, Indiana, March 19-21, 2008

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