Globalization, Corporate Social Responsibility And The International Community

Rishi Varma T. R., O.P. Jindal Global Law University, Sonipat

ABSTRACT

For the past decade the term globalization has been used and abused by the public at large. it is undisputed that globalization has become a part of not just national economic structures but has also managed to seep into societal aspects such a as environment, peace, and distribution of wealth. Originally thought to be a voluntary and philanthropical approach to business has slowly evolved into a frequently practiced and expected system. Today we can see that Corporate Social Responsibility is slowly transcending its earlier ideology of voluntary nature to that of a compulsory in nature. The international community has noted these changes to the spheres of separate as well the rising societal and environmental issues that maybe caused by them. They have recognized the rising need for a unified Corporate Social Responsibility and of the difficulties in implementing and enforcing the same. This paper attempts to analyze the perspectives of Corporate Social Responsibility, its legal lacunae and global impacts and the views of the international community on the same.

Keywords: Corporate Social Responsibility, Globalization, Corporate Governance, International Community.