In the view of businesses, attempts to regulate CSR at EU level would be counterproductive, they stress the voluntary nature of CSR.
The European Round Table of Industrialists is not in favour of a standardised reporting of social performance. "It is not logical on the one hand to acknowledge the benefits of individually tailored approaches, and then to try to fit these to an externally imposed reporting standard".
Trade unions and civil society organisations emphasized that voluntary initiatives are not sufficient to protect workers and citizen rights. They advocated a regulatory framework establishing minimum standards. They also asked for effective mechanisms to e nsure a company's accountability for its environmental and social impact.
FEE (European federation of accountants) calls on the Commission to produce an explicit statement on companies being held accountable for CSR. The Commission's initiative should be limited to a framework of main principles or at maximum minimum standards. The focus should be on improving CSR practices, with any reporting principles being drafted in broad high level terms. Detailed reporting regulation should be developed at global level, such as that being developed by the GRI (global reporting initiative).
Click here for more positions on the Green Paper 'Promoting a European Framework for Corporate Social Responsibility.