Corporate Social Responsibility (CSR) and Ethical Contracting [Video]

Corporate Social Responsibility (CSR) has emerged as a vital element ofcontemporary business practices, shaping corporate policies as well as the legalframeworks that govern business conduct. Specifically, CSR is increasinglyinfluencing contract law, where ethical principles are being integrated intolegal agreements. These changes reflect a growing societal demand for companiesto act responsibly, considering their effects on society, the environment, andhuman rights.

The Rise of CSR in Contract Law:

Traditionally, contracts focused mainly on economic and legal obligations,concentrating on the exchange of goods, services, or finances. However, asbusinesses have expanded and gained greater influence, their effect on theenvironment, communities, and workforce has faced enhanced scrutiny. Thisscrutiny has led to CSR evolving into a concept that transcends mere legalcompliance, urging businesses to actively contribute to social and environmentalwelfare.

In contract law, CSR manifests through the integration of CSR clauses in agreements. These clauses obligate the parties to adhere to …