There is a growing perception that some UK-linked businesses are prospering at the expense of the broader community and causing major economic, social, environmental and human rights problems.
CORE believes that minimising negative societal and environmental impacts must be at the core, not the periphery of a successful business today. Yet responsible businesses leaders who aim to operate to high social and environmental standards tend to find themselves at a disadvantage to companies that are willing to compromise in those areas. Extensive evidence shows that voluntary corporate social responsibility initiatives and non-binding codes of conduct simply result in business as usual.
That’s why we want Government action to level the playing field. We want high standards to be set for UK companies, which should apply throughout their operations. Irresponsible companies should no longer be able to shield themselves from liability for malpractice or operate with impunity by hiding behind their subsidiaries and suppliers. People who are adversely affected by a company’s activities should be able to access justice and ensure the company is held to account here in the UK.
Fresh thinking on how to create a better and more responsible economy in which risks and rewards are shared more equally is urgently needed. Optimising short-term financial returns at all costs is no longer an acceptable or effective solution to emerging challenges. As a major economic player, the UK must lead the way on raising human rights and environmental standards for business.
To find out more about CORE and how to get involved, please contact us.