Health policy implications of corporate social responsibility provisions in international investment agreements

Abstract

Objective To analyse and classify inclusions of corporate social responsibility in international investment agreements, especially inclusions with reference to public health. Method We extracted the text of international investment agreements containing corporate social responsibility inclusions from the electronic database of investment treaties. We conducted a documentary analysis of the corporate social responsibility inclusions, and we developed a typology categorizing inclusions based on level of detail and reference to international commitments. Findings Of the 3816 agreements signed as of October 2023, 127 agreements contain corporate social responsibility inclusions. Since the first inclusion of corporate social responsibility in 2008, the percentage of agreements containing such inclusion signed each year has steadily increased from 4.6% (4/86) in 2008 to 42.8% (21/49) in 2018 and 33.3% (3/9) in 2023. Using the typology we developed, we categorized the level of detail as follows: nine were minimal, 27 were low, 35 were low-medium, 107 were medium, 11 were medium-high and seven were high. Health is mentioned in 36 of these inclusions. Conclusion This analysis indicates that international investment agreements increasingly incorporate a high level of detail on expectations regarding investors’ corporate social responsibility. Such provisions offer a potential tool to increase government guidance and accountability of global corporations, including with respect to governments’ public health objectives.