The Federation of European Risk Management Association (Ferma) today stressed the importance of developing corporate social responsibility ahead of legal requirements from UN resolutions.
The move followed the submission last month of the draft paper "Norms on the Responsibilities of Transnational Corporations".
The paper, which will be voted on in March 2004, states that companies should be subject to the kind of enforcement procedures previously applied only to national states by the UN Commission for Human Rights.
Thierry van Santen, president of Ferma, said international business was now clearly expected to play a much wider role for good, despite uncertainty over whether the draft paper would be passed.
