CORPORATE SOCIAL RESPONSIBILITY AND SELF-REGULATION

Abstract

In the field in Corporate Social Responsibility (CSR), international private regulation or self-regulation refers to numerous regulatory frameworks. Soft Law is the other definition which is often used for private regulation. However, some scholars distinguish them from each other. Different examples of International Private Regulations in field of CSR can be mentioned as frameworks for monitoring, codification and certification of firm’s compliance with different environmental, labour, human rights and anti-corruption standards. Such frameworks have cross boundary effect and in contrast with treaties are the product of collaboration among enterprises and NGOs. This paper will try to compare and contrast numerous aspects of public and private regulations, and provide answers for questions regarding different types of international private regulations, their advantages and disadvantages in field of Corporate Social Responsibility. As a result of the study in the paper was also presented the most popular CSR initiatives including some industry driven initiatives assigned to a specified groups of international private regulations.