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The voluntary nature of CSR
The voluntary nature of CSR
Institutional promotion of CSR by means of public policies is necessary. However, the involvement of different governments and institutions at a local, national and international level in CSR presents several possibilities: the role of these organizations may range from regulation to the promotion of different measures to foster CSR. In this respect, the debate on the compulsory or voluntary nature of CSR arises. It is one of the central issues of CSR: whether it should be the companies that self-regulate and voluntarily implement strategies and management systems centred on CSR or, in contrast, whether there should be a minimum of regulation that establishes guidelines on what the social and environmental intervention of companies should be, and guarantees that the information reaches all the interested parties. Most companies side with the position defending the voluntary approach as central to CSR theses. However, many social organizations understand that the voluntary approach is not a sufficient guarantee, and they defend clearer regulation of CSR.
The classical “voluntary versus compulsory” debate is, nonetheless, a simplification. Although it is certain that countries are responsible for preserving the environment and society – as public goods – from the negative external effects of company activity, many of the company’s social responsibilities (safety in the workplace, respect for the workforce, environmental management, etc.) have already been included in national and international standards. Although it is necessary to continue legislating with a view to guaranteeing a minimum number of CSR aspects – and thus make up for gaps in self-regulation – an excess of regulation in this field might involve the risk that companies give priority to mere compliance with compulsory measures, and not integrate CSR values in their management strategies.
This is why in the MANGO Chair we believe that rather than discussing whether “regulation should exist or not”, the subject for discussion should be “what kind of regulation is the most suitable to motivate CSR”. For example, it is important to make headway in improving access to information on CSR policies, strategies and results for consumers/investors so that the market (both of goods and services and of capitals) rewards the most responsible companies and penalizes those that are not.