Gare Smith and I recently co-authored an article on corporate social
responsibility ("CSR") and risk management for Executive Counsel magazine. In
the article, "Making Corporate Social Responsibility
Systemic," one issue we discuss is the potential risk to
companies that "claim to have embraced CSR and then simply
point to glossy reports reflecting anecdotal philanthropic
initiatives to demonstrate the degree of their commitment." We
such companies fail to develop the internal policies and
mechanisms necessary to ensure that the correct people, in the
right functional areas, are held accountable for following specific
environmental and social standards. References to good deeds do not
mitigate against the risks associated with lack of internal
commitment and oversight.
We observe that a lack of executive-level oversight with regard
to a company's approach to CSR may leave companies with little
capacity to develop strategic and comprehensive responses to
stakeholder concerns about the social and environmental impacts of
the company's operations.
A copy of the full article is available here (.pdf).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
In an attempt to address or prevent any money launderer's access to the U.S. financial system through accounts serviced by registered investment advisers, the Department of Treasury's Financial Crimes Enforcement Network published a Notice of Proposed Rulemaking on September 1, 2015.
As I noted previously, at the recent Annual Meeting of the American Bar Association's Section of Business Law, Kelley Bender, Robert Keatinge and I did a presentation on the complexities of single-member LLCs.
In In re Dole Food Co., Inc. Stockholder Litigation, the Delaware Court of Chancery held two directors of Dole Food Company, one of whom was Dole's controlling stockholder, jointly and severally liable for $148 million in damages in connection with a going-private transaction by the controlling stockholder.
In a September 11, 2015, decision, the Delaware Chancery Court denied a former officer and director advance reimbursement of legal fees in a dispute with his company, despite his insistence that multiple corporate documents and Delaware law entitled him to advancement.