The Future of Company Law and Sustainability

Company Law and Sustainability: Legal Barriers and Opportunities, Beate Sjåfjell and Benjamin J. Richardson (eds), Cambridge University Press, 2015

University of Oslo Faculty of Law Research Paper No. 2015-34

Posted: 22 Sep 2015

See all articles by Beate Sjåfjell

Beate Sjåfjell

University of Oslo - Faculty of Law

Benjamin J. Richardson

University of Tasmania - Faculty of Law

Date Written: September 21, 2015

Abstract

How might company law be in a world in which all economic sectors are expected to show leadership and share responsibility in the transition to an environmentally sustainable future? That is the focus of the final chapter, which synthesizes insights from the rest of book in reiterating the importance of law reform and canvassing some options for it. The existing tentative reforms that reflect the model of enlightened shareholder value or the option of incorporating as a public benefit corporation, for example, are rejected as insufficient and too timid to achieve the fundamental shift in business practices. Directing the business community to act for the long term and an overarching duty of environmental care are among options that should be considered. Each would need to be supported by an array of standards and procedures so that they could be effectively operationalized and implemented. Company law and other areas of business law cannot achieve the transition to sustainability, but without such law reform, progress in other domains will be seriously hindered.

Suggested Citation

Sjåfjell, Beate and Richardson, Benjamin J., The Future of Company Law and Sustainability (September 21, 2015). Company Law and Sustainability: Legal Barriers and Opportunities, Beate Sjåfjell and Benjamin J. Richardson (eds), Cambridge University Press, 2015; University of Oslo Faculty of Law Research Paper No. 2015-34. Available at SSRN: https://ssrn.com/abstract=2663341

Beate Sjåfjell (Contact Author)

University of Oslo - Faculty of Law ( email )

PO Box 6706 St Olavsplass
Oslo, 0130
Norway

HOME PAGE: http://www.jus.uio.no/ifp/english/people/aca/beatesj/

Benjamin J. Richardson

University of Tasmania - Faculty of Law ( email )

Private Bag 89
Hobart, Tasmania 7001
Australia

HOME PAGE: http://www.utas.edu.au/law

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