Sustainable Business Law? The Key Role of Corporate Governance and Finance

Abstract

Lawyers, law schools, and corporate entities have shown an increased interest in sustainable business strategies. This is reflected by the increase in sustainability practice groups, law school courses, and textbooks focusing on the relationship between sustainability and business law; lawyers moving into executive-level sustainability positions in the private sector; and the proliferation of corporate sustainability policies, as well as increased interest in mitigating climate risk and engaging in sustainable finance. But what exactly is sustainable business law, and what role do lawyers play in advancing sustainability in the corporate world? This Article argues that “sustainable business law” has emerged as a distinct area of law and serves as an introductory explanation to define and understand the growing subject matter at the intersection of sustainability, business, and the law, as well as explores the key role that corporate governance and finance play in achieving sustainability.

Keywords: CSR, corporate social responsibility, finance, sustainability, business, private environmental governance, corporate governance

JEL Classification: M14, K22, K32