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(2) Identify the third country’s key business players that can significantly influence the TNC’senvironmental and social performance in the host country and understand their roles,relations and dynamics with the TNC.An examination of environmental and social standards on OFDI used in the third country’sbusiness practice can help a better understanding of environmental and social standards usedin host and the investor countries. While the current third country’s standards cannot bedirectly used in the host countries, but some of them have been widely adopted by businesses,and even influence the legislation and enforcement in both investor and host countries, andbehaviors of business players from both sides.With shared stakes with TNCs, the third country’s business stakeholders may also be able toexert influences on TNCs’ environmental and social performance in host countries, dependingon the salience of business ties.Regarding the third country’s business stakeholders of the TNC in question, the followingaspects should be considered and examined to achieve the main goals here:(1) Identify and understand the TNC’s key clients in the third country, particularlygovernment agencies and large firms. Find out the clients’ environmental and socialpolicies and understand their roles, relations and dynamics with the TNC;(2) Identify and understand the TNC’s key financiers in the third country. Find out thefinanciers’ lending policies regarding environmental and social issues and understand theirroles, relations and dynamics with the TNC;(3) Understand the TNC’s other business stakeholders in the third country and identify anykey player. Understand the general attitudes of the TNC’s suppliers, consumers andcompetitors on environmental and social issues of outward FDI in general and the TNCas well as these players’ roles, relations and dynamics with the TNC.Box 13: Business stakeholders in international regimeMain goals:(1) Understand international environmental and social standards on FDI, particularly in theTNC’s industry;(2) Identify the key international business players that can significantly influence the TNC’senvironmental and social performance in the host country and understand their roles,relations and dynamics with the TNC.An examination of prevalent international environmental and social standards on OFDI usedin international business practice can help a better understanding of environmental and socialstandards used in host and the investor countries. While most of the current internationalstandards are voluntary, some of them have gained global prominence and are widely adoptedby businesses, for example, Global Reporting Initiative and ISO 20006-Social Responsibility.It is worthwhile to pay attention to international standards in TNCs’ sectors. Industries with45