The government should oversee the international conduct of Canadian companies to ensure their practices are responsible and transparent, according to a Canadian Chamber of Commerce (CCOC) report released Wednesday.
Perrin Beatty, president and CEO of the CCOC, said, "For most Canadian businesses, responsible business conduct has moved from doing 'good' to doing 'right.' It's not about philanthropy anymore – it's at the core of their operations.
"Responsible business conduct in a complex world makes it clear that companies are not satisfied with the status quo and want change."
In Responsible Business Conduct in a Complex World, the CCOC sought ideas from business leaders and non-governmental organizations.
The paper outlines areas of strength in current federal government oversight and identifies potential improvements. It also sets out ways in which companies working overseas could improve their behaviour and, ultimately, their business performance.
Beatty concluded: "While the CCOC opposes imposing punitive legislative measures and expensive, duplicative offices on Canadian companies, we strongly believe that ethical and responsible behaviour is an important part of the Canadian brand.
"Businesses need to conduct their activities safely, respectfully, legally and sustainably. Governments remain the primary means for ensuring economic, environmental and social protections and business must respect these protections."
