A preliminary analysis of the impact of un MDGs and Rio+20 on corporate social accountability practices

Abstract

This chapter explores the impact of UN Millennium Development Goals (MDGs) and Rio + 20 in improving Corporate Social Responsibility (CSR) practices. While MDGs and Rio + 20 have suggested additive guidelines for improving CSR practices, they do not provide a strong legislative mandate. We find both MDGs and Rio +20 have had limited cumulative effect on CSR practices and discourses within the corporate reports. UN bodies should bring a new policy and regulatory framework that addresses limitations in the principles espoused in the MDGs and Rio +20. An independent monitoring system (a social compliance audit mechanism) can be mandated in an attempt to make incremental substantive change.