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Article

1 Apr 2008

Author:
Georg Kell, Executive Director, UN Global Compact, in Compact Quarterly

The Future of Corporate Responsibility

Corporate Responsibility in 2008... First, today CR is global... Second, global integration has triggered convergence around values and principles... Third, CR is filling governance voids... Fourth, the nature of enterprise risk and reward is changing... Fifth, non-financial reporting is on the rise... Looking Ahead... First, CR must go much deeper and further... Second, it is essential to nurture the emerging link between responsible investment and CR... Third, convergence must continue... Fourth, we must welcome efforts by new entrants to embrace CR, while also providing incentives that motivate front runners to keep pace and give direction... Fifth, civil society must remain vigilant... Sixth, the relationship between regulatory and voluntary approaches remains critical... Finally, when it comes to specific issue areas and dilemma situations, fresh efforts need to be made to identify best solutions and scale them up...