Skim through the annual report or website of any major Australian company and you will be sure to find entire sections about its commitment to corporate social responsibility - donations to charities, environment and sustainability projects, and employee payroll giving programs.
The discussion paper does four things:
- Firstly, it provides a brief survey of recent examples of corporate misconduct and misbehaviour in Australia.
- Secondly, it outlines the historical basis that underpins corporations’ responsibilities to the public interest and societal expectations.
- Thirdly, it explains how the existing laws have moved away from the traditional purpose of corporations, to the detriment of workers, the community and the environment – and to corporations themselves.
- Finally, the report makes recommendations for government policy to address these problems.