chapter  1
36 Pages

Introducing business and global governance: Morten Ougaard

ByMORTEN OUGAARD

Business and global governance is an important and multifaceted topic. This is evident from even a cursory look at the current global agenda with the unfolding financial and economic crises, the politics of climate change, and the persistent problems of poverty and development. The influence of the financial industry on international regulation is blamed as one reason for the crisis; multilateral efforts at strengthening financial regulation have been launched by governments and international institutions; private credit rating agencies are criticized for the impact of their ratings, international bodies such as the G20 and the G8 are discussing how governments can stimulate business and restart growth without resorting to protectionism;muchof the politics of climate change is about changing productive practices in the private sector; and, under headings like corporate social responsibility and public-private partnerships, efforts are made to mobilize business for addressing a range of problems concerned with development, human rights and environmental sustainability.