The European Commission has published a new strategy on CSR. This is a substantial improvement on the old one which endorsed the weakest kind of voluntary approach.
It also begins the process of integrating (and promoting) the principles of the OECD, the ILO and ISO 26000. In fact the fingerprints of ISO 26000 are all over it – beginning with the definition of CSR which is a simplified version of that in the ISO standard.
The EC has also added three principles of good tax governance which is an important new contribution. And it recognises its own key role in procurement.
It still has its problems though: quite how it aims to reconcile a meaningful consideration of social and environmental issues in procurement ‘without undermining the principle of awarding contracts to the most economically advantageous tender’ is not at all clear. And the endorsement of the GRI is rather limited.