| Abstract: | In recent years, questions of corporate social responsibility (CSR) have developed into a global policy issue. Multinational corporations, as high-profile representatives of economic transnationalisation and globalisation, have come under ever closer scrutiny in regard to their actual development impact, especially in Third World countries. The UN Global Compact as an example for evolving “complex multilateralism on a global level” aims at solving two problems at once, namely the implementation of minimum standards of “good corporate conduct” and socio-economic development, especially of poor countries. In a paradigmatic policy shift, the United Nations has fostered close partnerships with global business to promote CSR and socio-economic development, thereby opening the UN system to private business interests. This shift has been criticised by many civil society actors. Despite its remarkable achievements, the Global Compact reveals many problems of contemporary global governance related to its understanding of globalisation, the implementation and control of its core norms and rules as well as in regard to issues of transparency and democratic legitimacy. Finally, the Global Compact serves to illustrate how international institutions try to adapt to the growing complexity of development and economic governance issues and the larger influence of non-state actors in the global political economy. |
