RIEB Seminar
| Date&Time | Friday, June 22, 2018, 9:00am-11:00am |
|---|---|
| Place | Seminar Room at RIEB (Kanematsu Memorial Hall, 1st Floor) |
| Intended Audience | Faculties, Graduate Students and People with Equivalent Knowledge |
| Language | English |
| Note | Copies of the paper will be available at Office of Promoting Research Collaboration. |
9:00am-11:00am
| Speaker | Travis SELMIER |
|---|---|
| Affiliation | Department of Political Science, Indiana University |
| Topic | Between a Rock and a Hard Place: Global Mining, Financial Regulation and Corporate Social Responsibility |
| Abstract | Mining was a self-regulating industry for centuries, with mining courts, codes of conduct and adjudication determined within mining communities. Government-provided regulation and governance gradually emerged at a local or country-level as some mining MNEs attained globe-spanning scale and scope. Since the turn of the century global corporate social responsibility-linked [CSR] governance gradually hardened around multilateral codes such as the United Nations Global Compact, certification and reporting schemes such as Global Reporting Initiative and the Publish-what-you-pay program, and mining industry bodies such as the International Council for Mining and Minerals. These governance initiatives have come to form a web of monitoring, reporting and disciplining. As mining MNEs have increased breadth and scope they have required more complex capital structures. Mining MNEs with headquarters, business operations, or banking relationships in the US or Europe have fallen under banking regulations such as Dodd-Frank [US] and the Markets in Financial Instruments Directive II [Europe]. Also, many bankers and investment firms are becoming unwilling to finance less transparent mining ventures and MNEs with poor CSR records. Caught between the Rock of financial regulation and the Hard Place which CSR has become, many mining MNEs will be pushed to conduct business in more transparent, open, community-friendly ways. Some mining companies headquartered in less transparent countries may resist, but their capital requirements and more interventionist governments may restrict where they can do business. |