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Article

23 Jul 2004

Author:
Justine Nolan, lecturer in law at University of New South Wales, in Sydney Morning Herald

Brought to account: the business of honour in the boardroom - Finally, governments are insisting that companies employ a social conscience, writes Justine Nolan

Allegations of fraudulent conduct on the part of James Hardie Industries to shield itself from liability for asbestos compensation claims are simply the latest in a long line of recent corporate scandals here and around the world...Recent international developments in the corporate legal regimes of Britain, France and South Africa are encouraging companies to adopt a broader definition of stakeholders...The United Nations...Norms on the Responsibilities of Transnational Companies and Other Business Enterprises (2003) was released a few months ago and incited a knee-jerk but predictably negative reaction from some business bodies. [refers also to Coca-Cola]