UCLA Pacific Basin Law Journal

The importance of encouraging corporations to act in socially responsible ways is increasingly apparent in a world where the effects of economic, environmental and social misbehavior are not felt only by local communities. Australian corporations, like those elsewhere in the world, have occasionally acted irresponsibly, as three recent examples amply attest. Fortunately, these actions have met with public criticism and community pressure for the corporations to rectify their actions, with some degree of success. Recent developments in Australia attempt to assure that those Australian corporations listed on the Australian share market will in the future more fully consider the social consequences of their actions and will implement strategies to avoid the risks which such actions would present. Required disclosure of corporate practices and the resultant reaction to them should mean that Australian corporations will meet evolving community expectations that they act in socially responsible ways.