286
Table 18.2 Corporate accountability status in Republic of Korea
Company
Accountable
Accountability
mechanism
Focus area
Doosan Engine
Co., Ltd.
Yes
Website
(strategy and
report)
Code of conduct
EHS (environment, health, and safety)
Community involvement and development
Onemount
Yes
Website
None
NAVER
Corporation
Yes
Website
(business
ethics)
Costumer
Value for costumers
Respect for costumers
Costumer protection
Stockholder
Protect shareholder’s interests
Disclose management information
Partners
A win-win internet environment
Protection of partners information
Society
Abide by legal regulations and social
norms
Contribute to social development and the
creation of a healthy culture
Retain political neutrality
Employees
Respect for employees
Fair and responsible treatment
(continued)
The study also unveiled that in doing so, governments need to engage in developing more effective regulatory frameworks to help companies comply with international sustainability mandates such on sustainability reporting. Although companies
operating in the three cases have proactively adhere to global sustainability mandates, they are not obliged to be fully accountable for and report on sustainability
performance. Disconnection between sustainability practices and sustainability
mandates remains to be a critical issue. The study suggests that if business accountability is identified as a business strategy to account for sustainability performance,
businesses need to be both more active in support of it and more responsive to external stakeholders and the environment they operate within. As such, there is a strong
need to enhance both businesses’ and governments’ capacity, so that businesses can
go beyond business as usual and become truly accountable for the impact of their
business operations.
Appendix (Tables 18.2, 18.3, and 18.4)
I. B. Franco and M. Abe
Table 18.2 Corporate accountability status in Republic of Korea
Company
Accountable
Accountability
mechanism
Focus area
Doosan Engine
Co., Ltd.
Yes
Website
(strategy and
report)
Code of conduct
EHS (environment, health, and safety)
Community involvement and development
Onemount
Yes
Website
None
NAVER
Corporation
Yes
Website
(business
ethics)
Costumer
Value for costumers
Respect for costumers
Costumer protection
Stockholder
Protect shareholder’s interests
Disclose management information
Partners
A win-win internet environment
Protection of partners information
Society
Abide by legal regulations and social
norms
Contribute to social development and the
creation of a healthy culture
Retain political neutrality
Employees
Respect for employees
Fair and responsible treatment
(continued)
The study also unveiled that in doing so, governments need to engage in developing more effective regulatory frameworks to help companies comply with international sustainability mandates such on sustainability reporting. Although companies
operating in the three cases have proactively adhere to global sustainability mandates, they are not obliged to be fully accountable for and report on sustainability
performance. Disconnection between sustainability practices and sustainability
mandates remains to be a critical issue. The study suggests that if business accountability is identified as a business strategy to account for sustainability performance,
businesses need to be both more active in support of it and more responsive to external stakeholders and the environment they operate within. As such, there is a strong
need to enhance both businesses’ and governments’ capacity, so that businesses can
go beyond business as usual and become truly accountable for the impact of their
business operations.
Appendix (Tables 18.2, 18.3, and 18.4)
I. B. Franco and M. Abe