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Globalisation free trade and corporate citizenship in the South Pacific forum Island countries (FICs): how relevant is the United Nations global compact?

Prasad, Biman C. (2004) Globalisation free trade and corporate citizenship in the South Pacific forum Island countries (FICs): how relevant is the United Nations global compact? The Journal of Corporate Citizenship, 13 . pp. 65-76. ISSN 1470-5001

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Abstract

The UN Global Compact is a well-intentioned approach to convince corporate entities, particularly transnational corporations, to adopt principles that would lead to an improvement in the quality of life of people and maintain sustainable environment policies. Although there is some evidence of good corporate responsibility and citizenship, mainly in the developed countries, it is far from satisfactory in the developing countries. Pacific Forum Island Countries (FICs) are small, have fragile environments, large subsistence and rural populations and, additionally, have large numbers of households living in poverty. This paper suggests that the UN Global Compact will certainly help these countries to articulate their concerns in the global environmental governance debate and perhaps receive some tangible support to ensure that corporate entities pursue their business according to the principles laid down under the UN Global Compact. However, it will not be enough to ensure that FICs are actually protected from environmental degradation or to help them to reduce poverty. In their attempt to embrace global capitalism FICs would need complementary social and environmental policies to accompany the free-trade policies.

Item Type: Journal Article
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Business and Economics (FBE) > School of Economics
Depositing User: Ms Shalni Sanjana
Date Deposited: 15 May 2004 21:05
Last Modified: 15 May 2012 21:05
URI: http://repository.usp.ac.fj/id/eprint/4578
UNSPECIFIED

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