In developing our own corporate social responsibility policy framework, Canadian policy makers would benefit from considering the European experience. This paper provides an overview of it and highlights key initiatives.
Document Highlights
The role and place of government in establishing corporate social responsibility (CSR)policy is a front-line topic these days. A recent poll found that a majority of Canadians feel that government has a strong role to play in this area and should set social responsibility yardsticks for the private sector.
Europe’s experience illustrates that there is no universal CSR model: a broad range of models exists for us to choose from when deciding upon next steps. A number of policy instruments are in place or are being proposed across Europe. These include voluntary and regulatory approaches, information and education, and fiscal instruments implemented either on an individualized or combined basis.
In moving forward, Canada will have to determine which areas of CSR are already covered, whether the current approach is sufficient, and whether additional or new policy interventions are necessary to achieve its desired objectives.
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