Aren't voluntary codes better than laws?
Some companies have put a lot of time and energy into drawing up 'corporate social responsibility' procedures and policies. But unfortunately there are some companies that hide bad behaviour behind glossy brochures and fine-sounding promises. That's why we need laws that will require all companies to produce thorough and useful reports on their impacts.
Pressure from customers has definitely helped change the behaviour of some companies, but if you consider that only 5% of customers shop ethically, we clearly need other mechanisms alongside consumer pressure to hold companies to account. Currently less than one third of the top UK public companies report on their social and environmental impacts.
