This investigation of the barriers to and opportunities for promoting environmental sustainability in company law provides an in-depth comparative analysis of company law regimes across the world. The social norm of shareholder primacy is the greatest barrier preventing progress, and it also helps explain why voluntary action by companies and investors is insufficient. By deconstructing the myth that shareholder primacy has a legal basis and challenging the economic postulates on which mainstream corporate governance debate is based, Company Law and Sustainability reveals a surprisingly large unexplored potential within current company law regimes for companies to reorient themselves towards sustainability. It also suggests possible methods of reforming the existing legal infrastructure for companies and provides an important contribution to the broader debate on how to achieve sustainability.ensures that profit is second to its social missiona#39;.122 As of mid 2014, L3C legislation was in place in eight states and two ... year in order to maintain their tax-exempt status.125 They may elect to spend their funds in two ways: through grants, ... is no financial return on their investment, or through PRIs, which may provide a potential return.126 To qualify as a PRI, the ... the non-profit soula#39; ( Winter 2009a 2010) Bridges, Federal Reserve Bank of St. Louis, available at: www.stlouisfed.org.
|Title||:||Company Law and Sustainability|
|Author||:||Beate Sjåfjell, Benjamin J. Richardson|
|Publisher||:||Cambridge University Press - 2015-04-14|