Pursuing sustainable development goals through corporate social responsibility: Observations on CSR legislation of Chinese Company Law
Keywords:
Corporate Social Responsibility, Chinese Company Law, Corporate Governance, Sustainable Development Goals, Sustainable Information DisclosureAbstract
This study focuses on the implementation, social impact and the limitations of corporate social responsibility (CSR) in Chinese Company Law. An empirical analysis of 221 cases reveals that Chinese courts generally do not consider the CSR provision to impose mandatory obligations on companies. The independent value of the CSR provision is generally weak. After its revision in 2023, the legislative approach shifted its focus to the decision-making process of company operators, returning the perspective to the adjustment of internal company behaviour. To further provide reference for China, the study observes the practices of the United Kingdom, France and Germany. The study suggests that China improve its provisions on CSR reporting disclosure in Chinese Company Law by requiring companies to ensure that their published social responsibility reports systematically present information that has a significant impact on the decision-making basis or the realisation of rights of relevant stakeholder groups. In addition, drawing on the European Union’s series of initiatives on sustainable information disclosure, the regulations could be further strengthened in terms of the scope of eligible companies, differentiated management of mandatory information disclosure, and the role of industry organizations. For companies, it is essential to establish their own CSR or sustainable development internal management system as soon as possible, including setting up a dedicated board committee and providing corresponding professional knowledge training, as well as establishing an internal oversight system.
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