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from Part III - Implications of Wealth Creation and Human Rights for Corporate Responsibility
Published online by Cambridge University Press: 11 January 2021
The contents of corporate responsibility are drawn from Part One and Part Two of this book, namely the seven features of wealth creation and the 30 internationally recognized human rights, respectively. They substantiate the responsibilities of business organizations. The features are illustrated with corporate or public policy examples: Volkswagen, Wells Fargo, Medtronic, Grameen Bank, Donald Trump’s investment plans for infrastructure projects, Matsushita Electronic, Unilever Sustainable Living Plan and Rohner Textil AG. Respecting human rights follows the three criteria of no adverse human rights impact (advanced by the UN Guiding Principles on Business and Human Rights) and is described by several concrete examples. As for the addressees of corporate responsibility, the chapter rejects the shareholder view and argues for broadening the stakeholder approach by including society at large, future generations and nature.
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