Farewell CSR, hello corporate libel action

November 20, 2008

libeled-lady.jpg

Spada’s White Paper on trends in Environmental Reporting shows that FTSE 100 companies have largely jettisoned the term “corporate social responsibility” (CSR) in favour of simply “corporate responsibility” (CR). It is hypothesized that the change has occurred because “the term ‘social’ has connotations of the ‘soft’, ‘touchy-feely’, old-style practices of random philanthropy”, so too that it may evoke too fulsome a connection with HR. Nowadays, “CR people emphasise that their job is about businesses behaving responsibly in everything they do and should be fully integrated into the business – and they want to be taken seriously.”

Companies do indeed take themselves increasingly seriously. Fleet Street is awash with letters before action from libel lawyers acting for the big corporates as never before. The law remains the same – a company will have to prove damage to its wallet, not merely its reputation, to prevail in a libel claim – but the collapse in value among so many institutions has put a premium on accurate corporate reportage. These days, it’s that much easier to say that there’s a correlation between adverse publicity and a dwindling share price.

The dropping of the word “social” may therefore herald a move away from a softer corporate style – just as the rise of the corporate libel action may illumine the darker side of corporate responsibility: the need, in harsh market, to do utilise the defamation laws to protect shareholder value.

Image courtesy of Flickr.

 

2 Responses to “Farewell CSR, hello corporate libel action”

Posted by:
Nigel on November 21, 2008 at 2:01 pm

Actionable only if proof of wallet damage? What about the old rule to the contrary from the South Hetton Coal Compay case, upheld by the House of Lords in Jameel (2006)?

Posted by:
Admin on November 21, 2008 at 3:54 pm

Hi Nigel,

Blade was perhaps imprecise with his words… However, isn’t one point from South Hetton that a company can bring a claim sans proof of wallet damage, but that any damages awarded will be small?

By all means illuminate further and put Blade in his place!

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Supreme Court on Twitter

February 6, 2012

Something remarkable happened today. Yes, the Supreme Court launched its Twitter feed. It even has a Twitter policy, one of caveats, disclaimers and little by way of illumination but regardless: who would have thought that the successor body to the House of Lords would stoop to engage with the world of tweets, hashtags and retweets?

We look forward to the day when court business will be conducted via Twitter. Meantime, check out this link for an excellent blog on the Supreme Court.

Not so right said Fred

February 2, 2012
fred hat

So Farewell, then, Sir Fred Goodwin.

Now you are just Fred.

Not Right Said Fred, but plain Fred.

The Forfeiture Committee did for you.

No one had heard of it before,

But Dave said it had to act, and it did.

Trouble is that no one knows what to think.

Is it ‘Alas, poor Fred‘,

Or ‘Hurray! Sir Fred is dead!’?

We don’t know.

Do you?

By A. Mob, aged 1,378 and a half.

London Goes AWOL

January 31, 2012
CNN

STOP PRESS:

Fed up with being stuck on the Thames in south-east England, London yesterday decided to move. In a dramatic gesture which augurs ill for the Olympics, the city upped sticks and relocated to East Anglia.

Lawyers were not consulted about the move, and the city’s precise motivation remains unclear. However, financiers fear that London’s decision is a sign that it wishes to downsize. Moreover, a source from London said: “We no longer want to be Britain’s seat of power. If the Scots can deregulate, why can’t we? East Anglia is a nice place where nothing happens. It’s time for a quiet life. Please respect our right to privacy.”

Elsewhere, Birmingham did not do anything, but Manchester was seen to be packing its bags. “There’s an opportunity for us,” said Manchester. “We can become London.”

East Anglia said: “We don’t mind. It’ll be refreshing to be associated with something other than fens and flatness.”

A cartologist at CNN, which broke the extraordinary news, was later fired.