The Unsuccessful Pursuit for Sustainability in Italian Business Law

In Beate Sjåfjell and Christopher M. Bruner (eds), Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability (Cambridge University Press, Forthcoming).

University of Oslo Faculty of Law Research Paper No. 2019-26

Posted: 8 May 2019

Date Written: May 6, 2019

Abstract

This chapter considers sustainability issues in Italian business law. In particular, it focuses on the two main approaches the lawmaker uses: creating no- or low-profit organisations (such as benefit companies), with specific labels; and setting down rules on special reports and statements that some companies must or may prepare in order to show their commitment in the field of sustainability. Following a normative analysis, the Italian system is shown to be ineffective, as the approach towards sustainability is always seen as an exception to a full-profit rule, even if the full maximisation approach comes from a social norm rather than a legal one. The chapter concludes that a much more effective measure would have been to change the basic norm on partnerships and companies, delivering such concepts from the need of profit purpose.

Keywords: Società benefit; Enti del terzo settore; Imprese sociali; social enterprises; non-financial statements

Suggested Citation

Bartolacelli, Alessio, The Unsuccessful Pursuit for Sustainability in Italian Business Law (May 6, 2019). In Beate Sjåfjell and Christopher M. Bruner (eds), Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability (Cambridge University Press, Forthcoming).; University of Oslo Faculty of Law Research Paper No. 2019-26. Available at SSRN: https://ssrn.com/abstract=3383458

Alessio Bartolacelli (Contact Author)

Università degli Studi di Macerata ( email )

V.le del Vignola 73
Macerata 62100, MC
United States

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