What are the international standards on corporate social responsibility?

International corporate social responsibility (CSR) is a set of standards that guide businesses to have a positive impact on the environment, society, and economy. These standards refer to the social, economic, and environmental impact of companies’ activities, both internally and externally. Internationally, some of the main standards of CSR include creating an ethical code of conduct, protecting human rights, being transparent and accountable, adopting environmentally sustainable practices, engaging in fair and ethical trade, and promoting corporate philanthropy. In New Jersey, businesses can join the United Nations Global Compact, which is a voluntary initiative that encourages companies to adopt CSR policies and practices. Companies that join the compact must commit to ten core principles around human rights, labor, the environment, and anti-corruption. Additionally, New Jersey law requires businesses to post a notice of their rights regarding wage and hour violations, health and safety, and discrimination under the New Jersey Law Against Discrimination. It is important to note that many of these CSR standards serve as guidance, not requirements, for businesses. That said, it is in a company’s best interests to follow these standards, as customers expect companies to be socially responsible and failure to do so is likely to have a negative impact on their bottom line. Businesses that adhere to these standards demonstrate to the public that they are ethical and caring, which will help to engender trust and loyalty among their customers.

Related FAQs

What is the International Convention on the Elimination of All Forms of Racial Discrimination (CERD)?
What is a treaty?
What is the International Convention on Biological Diversity (CBD)?
What is the International Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW)?
What is the International Criminal Court (ICC)?
What is the International Court of Justice (ICJ)?
What is the International Convention for the Protection of the Rights of All Migrant Workers and Members of Their Families (CMW)?
What is the International Convention for the Suppression of the Financing of Terrorism (FTT)?
What are the international standards on state sovereignty?
What is the International Convention for the Suppression of the Financing of Terrorism (FTT)?

What are the international standards on corporate social responsibility?

Related FAQs

Related Blog Posts