Corporate citizenship and social responsibility in a globalized world

This article addresses the rise of corporate citizenship in the context of the changes in the nature of individual citizenship and the emergence of new, non‐territorial forms of national identity that are occurring in the current era of intensifying globalization. It also ponders the power of corporate citizens and the role they play in the prevailing global governance framework, as well as the extent to which they can behave responsibly and pursue sustainable development goals. More generally, the article discusses the limits to corporate social responsibility and the extent to which capitalism can be ‘caring’. The argument advanced is that, by virtue of their very nature, transnational corporations (TNCs) cannot become fully responsible and accountable citizens. Nonetheless, they can be induced to transform themselves in ways that may be compatible with socially and environmentally desirable objectives. Lastly, the article explores paths for action and, in particular, the potential of NGOs and anti‐globalization social movements to become civil regulators able to push for the introduction of binding rules and regulations and the construction a governance framework capable of restraining and harnessing the power of TNCs.