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This paper aims to focus on an analysis of industry‐based voluntary codes of conduct in the international arena with special reference to the operations of the global mining industry.

The paper examines the working of the mining industry's voluntary code of conduct, i.e. International Council on Mining and Metals (ICMM) sustainable development framework. The paper develops an analytical framework, which sets forth some of the necessary preconditions that must be met for such a code to be credible and effective in meeting societal.

An in‐depth analysis of the data produced by ICMM conclusively proved that the industry had substantially failed in meeting any of its objectives in terms of adequacy of principles, establishment and implementation of the framework, allocation of sufficient financial and human resources, and independent external monitoring for compliance verification. The result is that despite spending millions of dollars, industry has failed to gain any public credibility. Instead, industry's code effort is viewed with disdain as a largely public relations exercise.

The paper provides important lessons and specific guidelines that can help companies and industries in creating meaningful and effective codes of conduct. A failure to do so would exacerbate the problem of public distrust in the industry and would lead to greater restraints on the industry's modus operandi and opportunities for growth and profitability.

The purpose of the paper is to review the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

The analogy of the Sirens of Greek mythology and codes of conduct is inescapable. Where Odysseus sought to hold himself back from temptation lest his ship founder on the rocks, most people at some time in their lives find themselves bound by some sort of code. However despite the proliferation of these voluntary restrictions, it is hard to find successful ones which success in what they achieve to do. Do they actually work?

The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.