ABSTRACT
Focusing on a corporate social responsibility (CSR) approach to natural resource protection, this chapter examines three aspects of multinational corporations (MNCs) regulation: international soft law instruments, voluntary industry initiatives, and the role of other non-state actors such as international organizations and non-governmental organizations (NGOs). It outlines the development of international expectations for MNC behaviour that have emerged from a series of landmark intergovernmental conferences. International law, including international environmental law, traditionally regulates relations between states and does not impose rights and obligations on non-state actors, such as corporations, individuals and other entities. United Nations Global Compact (UNGC) provides a platform for development, implementation and disclosure of responsible and sustainable corporate policies and practices, as well as providing a forum for learning and exchange of experiences. The Equator Principles (EPs) are a voluntary risk management framework for financial institutions to measure and manage social and environmental risks associated with projects that they finance.
