U.S. firms have been slow to join a U.N. initiative on social and environmental responsibility in business because of perceptions it has no teeth, Reuter’s reports (via CSR Wire).
Big corporations in the U.S. were wary of the Global Compact, according to the article, which has more than 4,000 members including around 110 listed on the FT Global 500 list, because there was a perception that companies around the world could sign up without taking any practical steps to change policies.
“The situation has obviously improved,” said Georg Kell, the compact’s executive director.
He added that 600 firms have been delisted, usually because of a failure to deliver any real changes.
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