Interrogating The Multilateral Trading System And Paradigms Of Corporate Social Responsibility: Implications For Nigeria

Abstract

Corporate social responsibility (CSR) norms are a strategic business policy
that now forms the cornerstone of how international trade is governed
globally. Although initially a voluntary initiative, its relevance in
promoting social, environmental, and ethical responsibilities among
global investors has arguably been conceived as trade distorting and
violating the tenets of the World Trade Organization (WTO). Nonetheless,
CSR is now mainstream in all related global transactions. This article
seeks to evaluate the impacts of global CSR on international trade and
examine the extent of Nigeria’s participation in global CSR. The article
argues that Nigeria should go beyond considerations of trade that focuses
mainly on liberal market access and expand the practice to include
environmental, social, and ethical practices. It concludes that adherence
to international CSR will propel developing countries to meet the UN
Sustainable Development Goals.