Company Law and Sustainability: Legal Barriers and by Beate Sjåfjell, Benjamin J. Richardson

By Beate Sjåfjell, Benjamin J. Richardson

This research of the limitations to and possibilities for selling environmental sustainability in corporation legislations offers an in-depth comparative research of corporation legislations regimes internationally. The social norm of shareholder primacy is the best barrier fighting growth, and it additionally is helping clarify why voluntary motion by means of businesses and traders is inadequate. by means of deconstructing the parable that shareholder primacy has a criminal foundation and difficult the industrial postulates on which mainstream company governance debate relies, corporation legislations and Sustainability finds an incredibly huge unexplored capability inside of present corporation legislations regimes for corporations to reorient themselves in the direction of sustainability. It additionally indicates attainable tools of reforming the prevailing felony infrastructure for corporations and offers a big contribution to the wider debate on how one can in achieving sustainability.

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Extra info for Company Law and Sustainability: Legal Barriers and Opportunities

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The target of environmental regulation can also be misguided. g. manufacturing firms or mining companies) that most visibly pollute or exploit natural resources, rather than their financial sponsors, such as global banks or multinational companies shielded behind subsidiaries that become the ‘fall guy’ for any environmental problems. The latter have been viewed as systemically remote from these environmental and social consequences,55 despite the capital they provide and their ability as shareholders or creditors to voice concerns to the firms they aid.

C. Bryner, ‘Policy devolution and environmental law: exploring the transition to sustainable development’ (2002) 26 Environs: Environmental Law and Policy Journal 1. Section 5(1). S. Bell and S. Morse, Sustainability Indicators: Measuring the Immeasurable (Earthscan, 1999). 22 ˚ benjamin j. 100 The success of the sustainability ideal also derives from how the business and political elites have tamed its broad possible implications to avoid radical economic changes. 104 Ecological modernisation accepts environmental degradation as a by-product of our modern industrial ‘risk’ society,105 but believes that degradation can be mitigated through rational and technocratic methods.

14 ˚ benjamin j. 54 Areas set aside for strict nature conservation, such as national parks, usually reflect such areas’ perceived weaker economic value for mining, forestry, human settlement, or other developments, rather than any unadulterated ethical commitment to nature’s sanctity. The target of environmental regulation can also be misguided. g. manufacturing firms or mining companies) that most visibly pollute or exploit natural resources, rather than their financial sponsors, such as global banks or multinational companies shielded behind subsidiaries that become the ‘fall guy’ for any environmental problems.

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