Individual assigment 1 Final Version.docx

Individual assigment 1 Final Version.docx - The Government...

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The Government of Canada and Corporate Social Responsibility Name Student ID Andres Molina 300931343 Lilith Castellanos 300942632 Corporate Social Responsibility Course INTL 710-004 Professor: Fidaa Shehada June 1 st , 2018
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Individual Assignment: Government of Canada & CSR 1. How does the Canadian government enhance corporate accountability inside Canada and abroad? List at least five approaches (public policy, regulation, financing, other initiatives) that the Canadian government has used. Explain two of them. The Canadian Government has been committed to promoting corporate accountability inside Canada and abroad through encouraging Canadian companies to respect human rights, laws, and in general to apply voluntary activities beyond legal requirements to achieve sustainability. Additionally, for Canadian companies operating in foreign markets where local laws differ from Canadian values, the Canadian Government foster these companies to find solutions to correct this situation. (Global Affairs Canada, 2018) The way to encourage corporate accountability has been through implementing initiatives as for example, the event “Canadian cleantech companies expand profile and shrink environmental footprint where the Canadian Government encouraged Canadian firms to become world leaders in the export of clean and sustainable technology and processes” (Government of Canada, 2018). According to Global Affairs Canada, some approaches that the Canadian Government had used to encourage the Canadian business apply social responsibility are: 1. Current Voluntary dispute resolution mechanisms 2. Supporting RBC (Responsible Business Conduct) in specific areas 3. Anti-Corruption and anti-bribery efforts 4. CSR centre of excellence 5. Socially responsible investment (SRI) 6. Continuous improvement and Stakeholder Involvement. Here we will explain the firsts two. The first approach is that the Canadian Government understands how important is relationships between companies and their stakeholders, and make emphasis in the Canadian business “rather than being simply agents of shareholders must take the rights and interest of all legitimate stakeholders into account. While they still have a fiduciary responsibility to look after shareholders’ interests, Canadian business must balance this with the competing interests of other stakeholders for the long-term survival of the corporation, rather than just maximizing the interests of just one group at a time”. (Argenti, 2016, p. 42). For this reason, Canadian Government
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  • Fall '18
  • Corporate social responsibility, Canadian government

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