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Will point 15 of the G20 statement on CSR mean anything?

Last week the G20 statement named “The Global Plan for Recovery and Reform” seemed to go down rather well, at least in the media and in the markets.

Interesting for business ethics folks is the quote from point 15, that the Financial Stability Forum( now called a Board) made suggestions about

“…tough new principles on pay and compensation”, which will be taken seriously.

The G20 statement also pledges to “support sustainable compensation schemes and the corporate social responsibility of all firms.”

It will be interesting to see what traction this part of the statement achieves over time.

Clearly with less public money around in the next few years, CSR is going to be higher on the agenda for government as it looks for “partners” to deliver services or help fill in the gaps.

The Norwegians recently published a paper which can be seen to “set a new standard for government guidance on corporate social responsibility”, or so the article says here. Judge for yourself.

Just over a year ago we published, with the UK Conservative Party, a report we wrote that discussed what they could do on responsible business, should they win the next election. It’s available for free downoload here.

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