European Commission states that to fully meet their social responsibility, enterprises “should have in place a process to integrate social, environmental, ethical and human rights concerns into their business operations and core strategy in close collaboration with their stakeholders”.The aim is both to enhance positive impacts – for example through the innovation of new products and services that are beneficial to society and enterprises themselves – and to minimize and prevent negative impacts.
The new policy puts forward an action agenda for the period 2011-2014 covering 8 areas
• Enhancing the visibility of CSR and disseminating good practices: this includes the creation of a European award, and the establishment of sector-based platforms for enterprises and stakeholders to make commitments and jointly monitor progress.
• Improving and tracking levels of trust in business: the Commission will launch a public debate on the role and potential of enterprises, and organise surveys on citizen trust in business.
• Improving self- and co-regulation processes: the Commission proposes to develop a short protocol to guide the development of future self- and co-regulation initiatives.
• Enhancing market reward for CSR: this means leveraging EU policies in the fields of consumption, investment and public procurement in order to promote market reward for responsible business conduct.
• Improving company disclosure of social and environmental information: the new policy confirms the Commission’s intention to bring forward a new legislative proposal on this issue.
• Further integrating CSR into education, training and research: the Commission will provide further support for education and training in the field of CSR, and explore opportunities for funding more research.
• Emphasising the importance of national and sub-national CSR policies: the Commission invites EU Member States to present or update their own plans for the promotion of CSR by mid 2012.
• Better aligning European and global approaches to CSR:
• the Commission highlights the OECD Guidelines for Multinational Enterprises,
• the 10 principles of the UN Global Compact,
• the UN Guiding Principles on Business and Human Rights,
• the ILO Tri-partite Declaration of Principles on Multinational Enterprises and Social Policy,
• the ISO 26000 Guidance Standard on Social Responsibility.
A report on the implementation of this action agenda should be published in time for a review meeting scheduled for mid 2014.source: europa.eu