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ABSTRACT
Over the past twenty-five years, States, international institutions, and private entities have attempted to rein in corruption and promote corporate social responsibility. Such efforts have produced mixed results but have led to greater international cooperation and the establishment of clear norms. Increasing the accountability of multinational corporate actors remains a challenge but depends upon cooperation among boards of directors, national governments, nongovernmental organizations, and international institutions. This paper analyzes the relationship among municipal statutes, nonbinding 'soft law', and private standards. None on their own can effectively solve the problem of irresponsible corporate behavior but together have made meaningful steps in creating a more fair and accountable business environment.

Let me welcome all of you, on behalf of the Society. I am Lucinda Low,
the president of the Society, and we are delighted to be here at the Third
Annual Detlev F. Vagts Roundtable on Transnational Law. We have a
fascinating topic that our panel today is going to explore, but first I want
to say a few words. We are so delighted that the Vagts family came to us
after Detlev's death to carry on his work and thinking in the area of
transnational law. He was a pioneer in so many ways, and did so much to
develop the contours of the area of transnational law. We are very grateful
to the family for their generous gift, which has enabled the Society to
create this annual event.

When the Annual Meeting Committee began its planning process a year ago, they could not have foreseen the challenges that would confront international law and institutions following the U.S. elections, but both the committee and the Society's leadership felt that it would be important to adjust our plans to take account of this new landscape. And this is taking place throughout this annual meeting and most particularly through the three panels we're hosting at this same time each morning on "International Law and the Trump Administration," and the first panel, as you know, today is on "National and International Security."

Good morning, and welcome to this final program in our series of three programs at this annual meeting on "International Law and the Trump Administration." This morning, as you well know, we are talking about global engagement on environmental law, following our Thursday panel on security issues and yesterday's panel on trade and investment. This is part of a series that we have been presenting both here and on in our webcast initiative that we launched in January, as the new administration began its first one hundred days in office. Some of you may have seen the live webcast we put together, and there are now podcasts as well, featuring former senior administration officials of both parties, which are presenting factual information and informed perspectives on a range of critical policy issues that are facing America and the world.

We are going to get started. Good morning, and on behalf of the American Society of International Law, I'd like to welcome all of you. This is a very special event for us. It's the second annual Detlev F. Vagts Roundtable on Transnational Law. Detlev, of course, was a seminal figure in this field, thinking about transnational law before it really entered into the lexicon in the way we think of it today. Not only did he make remarkable contributions to the field and define the field, but he also was dedicated to our Society.

Good morning. If I could have your attention, please. Welcome to this final session of our 111th ASIL Annual Meeting. We have a very special program and set of events for you this morning.

Let me welcome you to this Hudson Medal lunch, one of our wonderful events that we do every year at this Annual Meeting. As you know, the Hudson Medal is the Society's highest honor. It's been conferred on many of the leading figures in international law, including Rosalyn Higgins, Tom Frank, Michael Reisman, Elihu Pauterpacht, John Jackson, Bruno Simma, and last year's recipient, Richard Bilder. I want to, at the outset, thank the Foley Hoag firm for its sponsorship of this event once more. I think this is your fourth year of sponsorship.

"The OECD Convention on Bribery established an international standard for compliance with anti-corruption rules, and has subsequently been adopted by the thirty-four OECD members and six non-member countries. As a result of the Convention and national implementation laws, companies and managers now risk tough sanctions if they are caught bribing foreign officials. The UK Bribery Act 2010 is only one example of this development. The second edition of this, the only commentary on the Convention, provides law practitioners, company lawyers and academic researchers with comprehensive guidance on the OECD standards. It includes case examples as well as the FCPA Resource Guide 2012 and the 2009 OECD Recommendation for Further Combating Bribery of Foreign Public Officials with Annexes I and II"--