"Additional initiatives" [2005] ELECD 348; in Tully, Stephen (ed), "International Documents on Corporate Responsibility" (Edward Elgar Publishing, 2005)

Book Title: International Documents on Corporate Responsibility

Editor(s): Tully, Stephen

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781843768197

Section: Chapter 125

Section Title: Additional initiatives

Number of pages: 1

Extract:

125. Additional initiatives

i. An Interfaith Declaration: A Code of Ethics on International Business for
Christians, Muslims and Jews, 1993


Commentary: A series of Interfaith consultations commenced in 1988 between
theologians, academics, businesspersons and government officials to identify ethical
business principles common to Christianity, Islam and Judaism. The process of formu-
lating guidelines occupied five years and drew upon best commercial practice and the
shared moral, ethical and spiritual values of the Abrahamic tradition. The Declaration
(available through www.iit.edu/departments/csep/codes/coe/cmj_codes.html) is
constructed around four key concepts: justice (fairness), mutual respect (love and
consideration), stewardship (trusteeship) and honesty (truthfulness). It also recog-
nises distinctions between the morality of different economic systems in which busi-
ness activity occurs, the policies and strategies of particular organisations,
relationships between shareholders and directors and finally, individual employee
behaviour. Several ethical issues affect all commercial activities whereas others are
unique to specific sectors. The primacy of national law is also acknowledged. The
Declaration is expected to be endorsed by management, incorporated into company
statements or codes of conduct and promoted during training. See further, Webley
S. (1999), `Values inherent in the Interfaith Declaration of International Business
Ethics', in Georges Enderie (ed.), International Business Ethics: Challenges and
Approaches, Notre Dame, IN: University of Notre Dame Press, pp. 356­75.



ii. Taskforce on the Churches and Corporate Responsibility: Principles for Global
Corporate Responsibility, 1998


Commentary: The Taskforce on the Churches and Corporate Responsibility
(Canada), the Ecumenical Council for Corporate Responsibility (UK) ...