A Cost-Benefit Analysis of ISO26000: The Standard on Social Responsibility

Camilleri, M.A. (2018). A Cost-Benefit Analysis of ISO26000: The Standard on Social Responsibility (eds.) In: Idowu S., Sitnikov C., Moratis L. (eds) ISO 26000 - A Standardized View on Corporate Social Responsibility. CSR, Sustainability, Ethics & Governance. Cham, Switzerland, Springer Nature.

23 Pages Posted: 27 Jun 2019

See all articles by Mark Anthony Camilleri

Mark Anthony Camilleri

University of Malta; University of Edinburgh

Date Written: August 4, 2018

Abstract

The International Organization for Standardization’s ISO 26000 on social responsibility supports organizations of all types and sizes in their responsibilities toward society and the environment. The standard's core subjects respect the rule of law as well as international norms on human rights and non-discrimination. ISO 26000 recommends that organizations ought to follow its principles on accountability, transparency, ethical behaviors and fair operating practices that safeguard organizations and their stakeholders' interests. Hence, this chapter presents a critical analysis on ISO 26000. This is followed by a discussion on the trade-offs between the costs and benefits for those organizations who intend following this social responsibility standard’s principles. Afterwards, this contribution posits that the stated purpose of ISO’s non-certified standard on social responsibility is to provide ‘guidance’ to its users as it is not an enforceable instrument. In conclusion, the author has put forward his implications for practitioners and policy makers. This chapter also suggested some future research avenues to academia.

Keywords: social responsibility, business, corporate social responsibility, CSR, CSR reporting, CSR disclosures, stakeholders, stakeholder engagement, International Standards Organization, ISO26000

JEL Classification: M00, M1, M10, M16

Suggested Citation

Camilleri, Mark, A Cost-Benefit Analysis of ISO26000: The Standard on Social Responsibility (August 4, 2018). Camilleri, M.A. (2018). A Cost-Benefit Analysis of ISO26000: The Standard on Social Responsibility (eds.) In: Idowu S., Sitnikov C., Moratis L. (eds) ISO 26000 - A Standardized View on Corporate Social Responsibility. CSR, Sustainability, Ethics & Governance. Cham, Switzerland, Springer Nature.. Available at SSRN: https://ssrn.com/abstract=3409788

Mark Camilleri (Contact Author)

University of Malta ( email )

Department of Corporate Communication,
Faculty of Media and Knowledge Sciences
Msida, MSD2080
Malta
79314808 (Phone)

HOME PAGE: http://https://www.um.edu.mt/profile/markacamilleri

University of Edinburgh

27 Buccheluech Place,
The Business School
Edinburgh, Scotland EH8 9JS
United Kingdom

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