Sustainable Companies: Barriers and Possibilities in UK Company Law
International and Comparative Corporate Law Journal, Volume 11, 2015, Issue 1
71 Pages Posted: 23 Nov 2010 Last revised: 15 Aug 2016
Date Written: November 21, 2010
The UK government has frequently expressed its commitment to sustainable development and is party to numerous agreements on sustainability. However, the UK has a long way to go in order to achieve sustainable development goals. This paper will provide a brief overview of the meaning of sustainability and of the UK government’s approach to sustainable development. The paper will explore the outcome of the Company Law Review that culminated with the Companies Act 2006 and that resulted in the adoption of an enlightened shareholder value principle. I argue that the UK’s current corporate law system does not provide a supportive framework for the sustainability campaign. Such goals may have to be initiated and pushed through at EU or international level to lead to any positive developments within the UK.
Keywords: sustainability, UK company law, enlightened shareholder value
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