Complementary currencies and business responsibility

Jem Bendell, who is active in corporate social responsibility, has offered the following two suggestions to the AG IEG:
a) Allowing and supporting complementary currencies for local sustainable development. For suggestions for a draft text the mentioning of existing UN declarations could be useful. The UN Millenium Forum declaration urges all governments, "To make serious commitments to restructure the global financial architecture based on principles of equity, transparency, accountability and democracy, and to balance, with the participation of civil society organizations, the monetary means to favour human endeavour and ecology, such as an alternative time-based currency. To give particular attention to eradication of unequal taxation, tax havens, and money-laundering operations, and to impose new forms of taxation, such as the Tobin tax, and regional and national capital controls. To direct the international financial institutions to eliminate the negative conditionalities of structural adjustment programmes." It appears little if anything has been done on these issues, not even after the financial crisis. The NGLS report of a civil society consultation for the SG's panel on global sustainability (GSP), which is inputting into Rio2012 prep, said the following on page 15 of the report, posted on the GSP website: "legislation that would “allow for local complementary currencies under clear institutional rules for the issuing unit – including an acceptance of communities to pay local taxes with them.” So for text, It suggests "Recognising the role of complementary currencies in aiding sustainable development, particularly mutual credit systems at the community level, such as time-based currencies, and Member States' prior support for these in the UN Millenium Declaration, signatories agree to support the expansion of mutual credit systems, under clear institutional rules for their issuance, and options for communities to pay local taxes with them.”

b) Public policies for scaling voluntary business sustainability and responsibility. UNCTAD's latest World Investment Report recommends this: Chapter 3 section E. My summary and contextualising of the ideas is to appear in the next UN-NGLS round up of Rio2012 issues. I attach the draft.  The most specific thing that could be done would be to fund UNCTAD to develop a centre of expertise and technical assistance for helping governments adopt public policies to scale non-statutory above-compliance standards of social and environmental performance, and a commitment by governments to adopt more such policies and learn from them.