TORONTO, January 29, 2004 -- Canada must act now to keep pace with the US and Europe in the race to set new standards for corporate social responsibility, says a group of high level experts from business, government and civil society in a report released this week.
"Canada has built an enviable record in many quarters internationally for honest dealing and ethical business values," said Prof. Wesley Cragg of York University’s Schulich School of Business, "but government and business have failed to see that reputation as a valuable asset. And it may now be in jeopardy."
The consensus report, entitled "Corporate Responsibility and Accountability in the Global Marketplace," is the result of a six-month dialogue led by Prof. Cragg and involving leaders from the corporate, government, non-governmental and academic sectors.
"There is so much public interest and support in this area that government needs to look at adopting new policies and work with business to set and implement new standards," said Prof. Cragg. "The Enron scandal has impacted Canadian institutions in serious ways," he added, while citing investigations by the US Securities & Exchange Commission and the introduction of new standards for corporate conduct by the Ontario Securities Commission as other reasons for timely action. "Businesses in Canada need to understand that ethical standards are a bottom line issue," said Prof. Cragg.
The group’s participants agreed that, by building on a reputation already highly regarded in many quarters, Canada and Canadian corporations have an opportunity to strengthen competitiveness, build confidence in capital markets and enhance human security internationally.
The report contains 12 recommendations for addressing current global concerns about corporate social responsibility directed at government, the private sector and civil society organizations as well as Canada’s universities, business schools and colleges.
Highlights
Business and Securities recommendations
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Improve disclosure and reporting in stock exchange listings and corporate reports
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Integrate ethical values into accounting and auditing procedures
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Promote positive competitive value of existing Canadian ethical standards
Government recommendations:
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Embed environmental, social and economic ethics criteria into government procurement policies
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Use incentive programs creatively to ensure firms who receive government assistance such as tax concessions and loans meet ethical standards
Academic recommendations
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Integrate emerging national and international standards into all aspects of university, college and business school activities including procurement, curriculum development and educational programs
A copy of the report (PDF format) is available on the Internet at:
http://www.schulich.yorku.ca/ssb-extra/businessethics.nsf/allwebdocuments/links.htm
A list of individuals who participated in the dialogue and support the "Canadian Vision and Next-steps National Agenda" follows.
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For further information, please contact:
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David Fuller |
YU/012/04
Signatories
The following individuals participated in the dialogue and support the "Canadian Vision and Next-steps National Agenda."
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John Langmore International Labour Organization, New York Ernst Ligteringen Global Reporting Initiative Malcolm McIntosh University of Bath, England Michael Rae and Industry, Conservation Science and Policy WWF Australia Jason Switzer Environment and Security International Institute for Sustainable Development (IISD), World Conservation Union (IUCN) Simon Zadek AccountAbility, England International Resource ParticipantsBusiness Jim Cooney Issues, Placer Dome Inc. George Greene Stratos Inc. Michael Jantzi Michael Jantzi and Associates Lynn Johannson E2 Management Corporation
NGO and Government |
Velma McColl Ottawa John McWilliams Counsel Nexen Inc. John Moffet Stratos Inc. Gordon Peeling Mining Association of Canada David Rodier Environment, Safety and Health Noranda Inc. David Simpson InterPraxis Consulting Irene Sosa Michael Jantzi and Associates Denise Taschereau Environmental Responsibility Mountain Equipment Coop Sue Todd Solstice Consulting Bob Walker SRI Policy and Research Ethical Funds |
NGO and Government Jean Belanger Ecological Fiscal Reform National Roundtable for the Environment and the Economy (NTREE) Bronwyn Best Heiwa Business International National Coordinator Transparency International Canada Alison Dempsey Sheldon Chumir Foundation Eugene Ellemen Social Investment Organization Elizabeth Everhardus Pollution Probe Jeff Flood Rights Program Amnesty International Canada (English Speaking) John Gammon Ministry of Northern Development and Mines, Government of Ontario Richard Haworth Minerals and Metals Sector, Natural Resources Canada Moira Hutchinson Project Ploughshares, Ethical Trading Action Group |
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Bob Jeffcott Maquila Solidarity Network Joy Kennedy Eco Justice Desk KAIROS: Canadian Ecumenical Justice Initiatives Pierre La Liberté Canadian Labour Congress Jim McCarthy Forest Stewardship Council Canada Nancy Palardy Corporate Social Responsibility KAIROS: Canadian Ecumenical Justice Initiatives Chris Pinney Canadian Centre for Philanthropy Jim Rader Business for Social Responsibility* David Runnalls International Institute for Sustainable Development (IISD) Bob Thomson Ottawa Food Security Council* * Affiliation for identification purposes only Academia Jennifer Pattison Bartholomew Schulich School of Business, York University |
David Bell Faculty of Environmental Studies, York University Chairman Parc Downsview Park Fred Bird in Comparative Ethics Department of Religious Studies Concordia University Wesley Cragg Codes Project & Gardiner Professor of Business Ethics Schulich School of Business, York University Chair and President Transparency International Canada Hevina Dashwood Brock University Pablo Idahosa Faculty of Arts, York University Errol Mendes Faculty of Law, University of Ottawa Mark Schwartz Wharton School, University of Pennsylvania & Schulich School of Business, York University Craig Scott International Human Rights Law, Osgoode Hall Law School, York University Bill Woof York University |
Government Participants
The following federal government officials participated in and supported the dialogue discussions.
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Kevin Banks Labour Cooperation Human Resources Development Canada Steve Brereton Trade Policy Division Department of Foreign Affairs and International Trade Shawna Christianson Department of Foreign Affairs and International Trade Genevieve Gasser and Security Analyst, Africa Canadian International Development Agency Martin Green Framework Policy Strategic Policy Branch, Industry Canada Michael Jenkin Consumer Affairs Industry Canada Kernaghan Webb Consumer Affairs Industry Canada Amanda Sussman Rights & Special Assistant to Minister of Foreign Affairs Department of Foreign Affairs & International Trade Barry Stemshorn Environmental Protection Service, Environment Canada Don Stephenson |
