Date of Award

2015

Document Type

Thesis

Degree Name

Bachelors

Department

Social Sciences

First Advisor

Hernandez, Sarah

Keywords

Economics, Corporations, United Nations Global Compact, Global Reporting Initiative

Area of Concentration

International and Area Studies

Abstract

A growing awareness of the shortcomings of the global neoliberal capitalist economic system, characterized by the “race to the bottom” has led to a push for ways to align the activities of business with the goals of development–an improved quality of life for most, if not all people. Corporate social responsibility has emerged as an approach to get companies to behave in a socially beneficial way by creating rules of behavior via “normative calls” for socially responsible and sustainable business (Dickerson, 2001). This study explores the development of two institutions seeking to encourage socially responsible behavior, the United Nations Global Compact and the Global Reporting Initiative. Through a historical analysis of these two institutions, I reveal the limitations of voluntary transparency and multistakeholder collaboration as an instrument for an effective form of governance. I argue that without international conventions that mandate CSR at the global level there is weak regulatory capacity. The capacity to implement regulations is undermined by powerful corporate actors able to co-opt the attempts to regulate them. Without independent platforms that enhance public debate and equal participation of all stakeholders, it is easier for powerful interests to co-opt and weaken the regulatory capacity of local and internal bodies.

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