• Codes of conduct

Codes of conduct

This paper presents the results of a study on the level of corporate social responsibility  (CSR) among Canadian extractive sector companies. The study shows that the adoption of voluntary corporate social policies by Canadian oil, gas, mining and exploration companies with international interests is remarkably low. The study also finds that:

• Among the companies that have adopted CSR policies, a significant majority are creating their own sets of principles which may not have independent evaluation mechanisms
• Companies which do have formal policies have experienced positive outcomes which should make implementing a CSR policy a prudent business decision
• Within the industry, adherence to recognised international frameworks is inordinately low, despite government efforts to promote specific CSRprinciples

For companies without a formal policy,but with a stated informal policy, there is reason for concern.Neither informal nor formal internal policies are subject to external scrutiny, nor are they required to meet a minimum set of principles.

It may, however, be that such policies are actually part of an evolution in the incorporation of corporate social responsibility. If corporate social responsibility becomes more broadly accepted throughout the industry the decision may be made to shift to internationally recognised frameworks.

The study concludes that strong leadership from within the industry or from the government is required if the pace of adoption of and adherence to CSR policy is to be increased.

  

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