Who Really Benefits from Voluntary Corporate Codes of Conduct?

Corporations, and even entire industries, publicly claim that they adopt voluntary codes of conduct out of caring and concern for the health and welfare of people and the environment, but in reality, these codes confer far greater benefits upon the companies than they do upon the public, and can range from deceptive to fraudulent. Corporations use these codes as a crisis management strategy to stave off government regulation, improve their image, boost their credibility with legislators and regulators, and thus preserve their seat at the table in any regulatory discussions. Voluntary codes also give political cover to legislators who favor industry by giving the legislators something they can point to to calm public demands to rein in harmful corporate behavior. You can read my full article on voluntary corporate codes here.  (Published in 2008 in CounterPunch)

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