ABSTRACT
Globalization is characterized by a ‘growing access to goods and services from all over the world, large flows of capital between countries, and technological advances that can make vast distances a negligible factor in business decisions’ (UNDP UNEP, World Bank and WRI, 2003). It is also a growing interdependence of the world's people through a ‘shrinking space, shrinking time and disappearing borders’ (UNDP, 1999). While this offers great opportunities for enriching people's lives, the benefits and opportunities have not been shared equitably (UNEP, 2002). Some see globalization as the way forward towards a better standard of living for all or as an inevitable process that requires careful management, if the benefits are to be captured for all. Others are questioning, challenging and even resisting the forces of globalization, and pointing out the manifestation of growing income gaps, increasing environmental damage and increased cultural uniformity. While many international bodies are starting to adjust their policies to include the active participation of civil society and its demands for implementation and enforcement of acceptable trade, labour and environmental standards worldwide (UNEP, 2002), developing countries are also concerned that trade policy measures for labour and environmental purposes should not be a justification for, or a disguised restriction to, international trade. The commitment towards active promotion of corporate responsibility and accountability was welcomed as a step forward, and the pairing of the two concepts – ‘responsibility’ and ‘accountability’ – has been seen as an achievement of the World Summit on Sustainable Development (WSSD) in taking forward the Rio agreements.
