Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

"Additional initiatives" [2005] ELECD 307; 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 84

Section Title: Additional initiatives

Number of pages: 4

Extract:

84. Additional initiatives

i. UNCED: Rio Declaration on Environment and Development, 1992


Commentary: One of the many positive and longstanding contributions made by
business is the economic development of States: UNCTC (1988), TNCs in World
Development: Trends and Prospects, New York. `Sustainable development' is defined as
development which meets the needs of present generations without compromising
the ability of future ones to satisfy their own requirements: Brundtland, G. (ed.)
(1987), Our Common Future: The World Commission on Environment and Development,
Oxford: Oxford University Press (the Brundtland Commission). The Rio Declaration
(see UNCED Report, UN Doc A/CONF.151/26 (1992) Vol I) builds upon the 1972
Stockholm Declaration from the UN Conference on the Human Environment, UN
Doc A/CONF.48/14/Rev.1 (1973). Of the 27 Principles, Principle 16 provides that:
`National authorities should endeavour to promote the internalization of environ-
mental costs and the use of economic instruments, taking into account the approach
that the polluter should, in principle, bear the cost of pollution, with due regard to
the public interest and without distorting international trade and investment'.
Also emanating from UNCED was the `Non-legally Binding Authoritative
Statement of Principles for a Global Consensus on the Management, Conservation
and Sustainable Development of All Types of Forests', UNCED Report, UN Doc
A/CONF.151/26 (Vol. III) (1992). See further, EC proposal for the development of a
code of conduct for European logging companies COM(89)0410. For PVIs in this field,
see the Forest Stewardship Council ( ...