Parliamentary Joint Committee on Corporations and Financial Services Inquiry into Corporate Responsib

In its submission to the Parliamentary Joint Committee on Corporations and Financial Services Inquiry into corporate responsibility, AICD strongly supports the concept of corporate responsibility. It argues that the Corporations Act should not be amended to impose an additional generalised social responsibility obligation on directors or companies. In fact, the Act does not prevent Australian companies or directors from taking into account the interests of all stakeholders in a way that is necessary to ensure that a company is successful and sustainable. AICD also argues that is inappropriate to mandate further corporate social responsibility based reporting requirements. By doing so we risk pre-empting the evolving international debate in this area.

Letter to PJC CSR Inquiry