Corporate accountability adds to the concept of corporate social responsibility the obligation of Measurement/Monitoring, Reporting and Verification (MRV) and, when necessary, problem resolution.
"Human rights, development and environmental organisations, trade unions, progressive think tanks and even some of the more enlightened sections of the corporate sector are now uniting behind the concept of
corporate accountability. Instead of urging companies to voluntarily give an account of their activities and impacts, and voluntarily improving their social and environmental performance (if it also happens to make business sense), the corporate accountability "movement" believes corporations must be "held to account" – implying enforceability. There must be fundamental changes to the legal framework in which companies operate. These include social and environmental duties being placed on directors to counterbalance their existing duties on financial matters, and legal rights for local communities to seek compensation when they have suffered because directors have failed to uphold those duties."
(Friends of the Earth,
Corporate Accountability , 2005, visited 2011-06-15)
