A Preliminary Analysis of the Impact of UN MDGs and RIO 20 on Corporate Social Accountability Practices

Abstract

This chapter explores the impact of UN Millennium Development Goals (MDGs) and RIO  20 in improving Corporate Social Responsibility (CSR) practices. While MDGs and RIO   20 have suggested additive guidelines for improving CSR practices, they do not provide a strong legislative mandate. We find both MDGs and RIO   20 have had limited cumulative effect on CSR practices and discourses within the corporate reports. UN bodies should bring a new policy and regulatory framework that addresses limitations in the principles espoused in the MDGs and RIO   20. An independent monitoring system (a social compliance audit mechanism) can be mandated in an attempt to make incremental substantive change.

Keywords: UN, MDG, Accountability, Corporations, Accountability, CSR, RIO 20, Disclosure, Regulation