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Corporate Governance

: The Harvard Law School Corporate Governance Blog

Whose Risk Is It? Corporate Catastrophe and Human Rights

By Harvard Law School Program on Corporate Governance

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Editor's Note: John Ruggie is the Berthold Beitz Professor of International Affairs at the Kennedy School of Government, and an Affiliated Professor in International Legal Studies at Harvard Law School. He is currently serving as the United Nations Secretary-General?s Special Representative for Business and Human Rights. This post is based on an article by John Sherman, a Senior Fellow at the Corporate Social Responsibility Initiative at the Kennedy School, Vice Chair of the Corporate Responsibility Committee of the International Bar Association and a member of the UN Global Compact Human Rights Working Group. The article was first published by the International Bar Association.

Assuring the existence of internal systems for effective risk management is a core component of corporate governance, embedded in best practice and the laws of many countries. [1] Yet the global recession caused by the financial meltdown and the runaway Deepwater Horizon leak in the Gulf of Mexico show, yet again, that the consequences of a business failure to anticipate and plan for catastrophic risks can devastate companies, society, communities, and the environment.

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Full post as published by The Harvard Law School Corporate Governance Blog on August 14, 2010 (boomark / email).