Regulating Corporate Social Responsibility (CSR) for Economic and Social Development Through Trade Rules

Abstract

Multinationals affirm corporate social responsibility (CSR) is a way to go further than national and international law to build a social compact. While CSR can contribute to an effective global labor governance scheme, we argue that national and international laws must be engaged to regulate CSR private governance schemes. We will support this argument and, furthermore, we will argue that international trade agreements can provide, if effectively enforced, grounds for the articulation. It can be argued that hybrid governance schemes could ensure that result-oriented and pragmatic developmental processes are at the core of the CSR–development nexus. In this article, we argue for the need to socialize CSR to make it more efficient, and that trade agreements can be part of this process. CSR is not an autonomous regulatory trajectory, and it will probably become increasingly regulated through institutional means.