Sir, Kenneth Roth's article "Rules on corporate ethics could help, not hinder, multinationals" (June 21) seriously understates the positive impact of voluntary corporate social responsibility initiatives, at the same time failing to recognise the business drivers behind the so-called CSR movement. Mr Roth states that voluntary initiatives "for all practical purposes, apply only to prominent companies". The United Nations Global Compact today includes 2,200 companies from more than 80 countries...companies large and small, big name and no-name, see that a commitment to universal principles helps manage the business risks and opportunities related to environmental, social and governance issues. Plus, it is the right thing to do. This is not to say that regulation is not important, but that regulation and voluntary approaches must be seen as complementary.