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What happens internationally matters to companies in the United States. Today’s world and its markets are globalized, and the international impacts are unmistakable, said Kennedy. It is clear in the international arena that companies are increasingly expected and, in some cases, required to take on roles and responsibilities that are traditionally those of governments. The main notion of MDGs is that it is not just governments, but also other interest groups in society that are expected now to carry out the commitments.
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There are 18 MDGs grouped around eight goals, most of them having 15–20 objectives. One hundred ninety-one UN member states endorsed the Millennium Declaration. Potentially, it is a very broad concept to cover, and it is a challenge for the business community.Īs a follow-up from the world summit on sustainable development in Johannesburg in 2000, the United Nations developed Millennium Development Goals (MDGs) with the implications for corporate responsibility, environmental, and health issues. At a minimum, it includes environmental issues but it also takes on social, ethical, governance, health, and other issues. The scope of corporate responsibility varies country by country, region by region, interest group by interest group. Some interpret corporate responsibility to mean what companies should do above the call of law others think it should be legally mandated at the national or international level others, again, take the position that it is already here and we are already doing it, said Kennedy. Sustainable development within business promotion is expanding rapidly in several directions. According to Kennedy, there is no solid definition of CSR however, it is not a replacement for the governmental role and responsibility in meeting challenges of sustainable development. SUSTAINABILITY AND CORPORATE SOCIAL RESPONSIBILITYĬSR is not a static concept-it is a moving, evolving target, said Norine Kennedy of the U.S.