ABSTRACT
The 1990s saw the rapid evolution both of what some called the CNN World and of voluntary corporate environmental reporting. Business people, as politicians before them, have found themselves having to operate in conditions of unparalleled transparency. For decades business had fiercely resisted demands for greater corporate transparency in such areas as business ethics, environmental and social performance, and other societal priorities. More recently the markets growing demand for social responsibility and risk-related information has given the corporate disclosure trend a real boost and will continue to do so. The World Trade Organization was rocked on its heels by protests in Seattle, with growing pressure on it to pay more attention to social and environmental issues. The recent UK Turnbull Report on corporate governance suggests that boards and directors will need to understand risk management in a much broader context.
