L’entreprise vigilante: promesses et perspectives

Irina Parachkevova-Racine and Jean-Baptiste Racine

Revue internationale de droit économique, 2023, vol. t.XXXVII, issue 3, 163-184

Abstract: In recent years, a decidedly global trend has emerged, both in France and elsewhere, which involves legally entrusting companies with the responsibility of addressing causes of public interest (environmental preservation, protection of human rights, etc.). Key and cross-cutting issues are thus addressed not only through traditional external public policies (environmental law, labor law, etc.), but also through the company?s own legal framework. This movement brings about significant transformations in the regulatory framework applicable to companies and holds the promise of a renewed representation of the company and its purposes. These are substantial changes, foreshadowing an expansion of the scope of the company (especially the corporate entity), a recognition, and even a regulation of the economic power embodied by the private company. It may even signal the emergence of a new geographical and normative space for organizing ecological and societal transitions. However, in practice, this regulatory framework falls short of its stated ambitions. Numerous gray areas and deficient implementation modalities are obstacles to transforming companies into effective drivers of these transitions. The risk is that companies will consolidate their power without embracing a genuine function of risk prevention arising from their economic activities. Therefore, a reflection must be undertaken on the perspectives that would address these challenges.

Keywords: vigilant company; soft law and private standards; co-regulation; stakeholders; sustainable governance; re-globalization; private economic power (search for similar items in EconPapers)
Date: 2023
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