Integrating sustainability into corporate governance

Andrew Johnston

Chapter 4 in A Research Agenda for Corporate Law, 2023, pp 57-79 from Edward Elgar Publishing

Abstract: Sustainability in its various guises is perhaps the most pressing issue facing humankind. Companies have to play their part in transforming their business models to meet this imperative. The conventional approach has been that companies should be managed and governed in line with shareholder primacy, with policymakers relying on either specific regulation or informed markets to correct undesirable externalities and ensure that companies operate in a sufficiently sustainable manner. An emerging research sub-field, which examines the relationship between corporate governance and sustainability, suggests that, for a number of reasons, this conventional paradigm has failed. It explores how corporate governance processes might be adapted so as to steer companies towards greater sustainability without making managers unaccountable. This chapter highlights the limitations of the conventional approach and explores recent EU initiatives and policy proposals by critical scholars. This research agenda represents a new and important challenge to shareholder-centric corporate governance.

Keywords: Business and Management; Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
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