Toronto, November 15, 2022 - Dr. Kernaghan Webb, an associate professor in Toronto Metropolitan University's Department of Law and Business, and Director of TMU's CSR Institute, has been appointed to the position of Chair (external link) of a federally funded standards group (external link) that has been charged with the responsibility of developing a standard pertaining to due diligence reporting for Canadian companies that are active abroad.
The standard is a central component of the Federal Government's Strategy (external link) to promote responsible business conduct by Canadian companies active abroad. As the Strategy notes, "...due diligence is the process enterprises are expected to carry out to identify, prevent, mitigate and account for how they address actual and potential adverse impacts of their operations, supply chains and relationships."
"It's an honour to be nominated and appointed to this pro bono position, and at the same time it is a considerable responsibility," said Dr. Webb, "The standard, when it is completed, should assist Canadian businesses in ensuring that their overseas activities meet globally recognized expectations pertaining to human rights, worker rights, the environment, anti-corruption, and other issues. But it should also be of assistance to investors, governments, communities, and other stakeholders who wish to evaluate the practices and performance of Canadian companies operating abroad."
"My position is that the National Standard on due diligence reporting, when completed, will be an important component in a broader eco-system of rule instruments, processes and institutions that are dedicated to providing a framework for the activity of Canadian businesses operating abroad," said Dr. Webb. "My hope is that my legal, scholarly and standards experience will be of assistance as we develop the standard through a structured and transparent multistakeholder process under the stewardship of the
Canadian General Standards Board (external link) ."
Professor Webb also noted that work developing rule instruments such as the due diligence reporting standard is extremely useful for scholarly purposes. "I find that I am able to draw on the insights gained through the multistakeholder standards process in my academic pursuits," said Dr. Webb. "In effect, it ensures that my teaching and writing are 'ground tested,' because non-practical ideas have no place in multistakeholder processes."