Europe steers clear of regulation

15 July 2002 - The European Commission has firmly rejected a regulatory approach to corporate social responsibility (CSR) in its newly published white paper on the subject.

The eagerly-awaited document, which emphasises the 'voluntary nature of CSR', makes it clear that the EC does not at present intend to impose responsible behaviour on companies by regulation or directive. It rejects mandatory social and environmental reporting, says the EC will not introduce compulsory social labelling of products, and does not propose a Europe-wide regulation requiring pension funds in member states to disclose any socially responsible investment policies they may have.

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