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Publication date: 29.05.2024
Legal aspects of corporate social responsibility
Introduction
Corporate social responsibility (CSR) is one of the key components of modern business that determines its interaction with society and the environment. It includes voluntary actions of companies aimed at social, economic and environmental development. This article discusses the main legal aspects of CSR, including regulatory framework, international standards and liability for violation of CSR principles.
Legal and regulatory framework for CSR
Ukrainian legislation
In Ukraine, corporate social responsibility is partially regulated by national legislation. For example, the Law of Ukraine "On Joint Stock Companies" contains provisions obliging companies to adhere to the principles of social responsibility. In addition, some regulations, such as the Tax Code, provide tax benefits for companies engaged in charity and social projects.
International regulation
Internationally, there are a number of standards and guidelines that govern CSR. The most well-known are the ISO 26000 standards, which provide guidelines for social responsibility, and the UN Global Compact, which calls on companies to adhere to ten principles in the areas of human rights, labour, environment and anti-corruption.
International CSR standards
ISO 26000
ISO 26000 is a voluntary document that provides guidance on social responsibility for all types of organisations. It covers aspects such as corporate governance, human rights, labour practices, the environment, fair operating practices, consumer issues and community involvement.
UN Global Compact
The United Nations Global Compact is an initiative launched in 2000 that engages companies to adhere to ten principles in the areas of human rights, labour standards, environmental protection and anti-corruption. The initiative is voluntary, but companies that join it are required to report on their progress in these areas. You may also be interested in the following articles: advice of a lawyer, legal advice, legal analysis of the situation, written advice, verification of documents by a lawyer, lawyers documents, online legal advice, online lawyer, legal opinion, legal opinion of a lawyer, lawyer online.
Responsibility for violation of CSR principles
Legal liability
Violation of CSR principles can lead to various types of legal liability. For example, failure to comply with environmental standards may result in administrative fines or criminal liability. In the area of labour relations, violations of employees' rights can lead to labour disputes and corresponding sanctions.
Reputational risks
In addition to legal liability, companies also risk losing their reputation. A deteriorating image can lead to a decrease in the trust of consumers, investors and partners, which in turn can negatively affect financial performance and business sustainability.
Conclusion.
Corporate social responsibility is an important aspect of modern business that requires proper legal regulation and compliance with international standards. Companies that follow CSR principles have a competitive advantage, improve their reputation and contribute to the sustainable development of society. However, violation of these principles can lead to serious legal and reputational consequences. Therefore, it is important that businesses not only declare their social responsibility but also implement it in practice.
