Author analyses the extent to which the much talked about ideas on CSR have been implemented within the framework of the existing legislation on corporate duties and liabilities, and the necessary steps to be taken to overcome the continuing impasse. It is argued in this article that the reason for the poor implementation of the CSR concept in companies’ day-to-day and strategic business behaviour is the fact that CSR initiatives are not legally binding but are still more or less recommendations and a “wishful” orientation. Author proposes that EU Directive be enacted in order to harmonize national corporate legislation by redefining director’s duties and responsibilities, including directors’ duty “to integrate social, environmental, ethical, human rights and consumer concerns into their business operations and core strategy in close collaboration with their stakeholders”. In this way, CSR would become legally binding and not just a declaration about the responsibility of enterprises which is not legally enforceable.
COBISS.SI-ID: 33012573