CSR

Tomorrow's Company advocates cooperation on global frameworks

The latest report from Tomorrow's Company, the business-led think tank, has recommended that global companies work with governments and non-governmental organisations to create stronger frameworks of law and regulation for the world's markets.

Tomorrow's Global Company: challenges and choices, the result of an 18 month enquiry, suggests that such cooperation is necessary if companies are to create shareholder value at the same time as taking practical steps on such issues as climate change, poverty and human rights abuses.

The report sets three new priorities for companies: redefining success in a way that integrates social, environmental, human and financial factors; publicly declaring values and rigorously applying them in challenging situations; and supporting and helping to create national regulatory frameworks and international agreements.

The enquiry team was made up of business and NGO representatives from across the world. This included Anglo American, and the mining company's chairman commented: "Global businesses, operating in a market system, can be a tremendous force for good in the world - so long as the market is shaped and regulated in the right way. So it's up to us to work with governments, NGOs, academic experts and others to make sure we work within a system that delivers progress and helps to resolve the world's most difficult issues".

July 2007