DUŽNOSTI DIREKTORA U ODRŽIVOM KORPORATIVNOM UPRAVLJANJU [Director’s Duties in Sustainable Corporate Governance]

Pravo i privreda, Vol. 61, Issue 3/2023, https://doi.org/10.55836/PiP_23308A

29 Pages Posted: 17 Nov 2023

See all articles by Milena Mitrovic

Milena Mitrovic

Luxembourg Centre for European Law

Date Written: September 23, 2023

Abstract

The author addresses the issue of directors’ duties in the context of sustainable corporate governance. The Proposal for a Directive on Corporate Sustainability Due Diligence provides for an extension of the duties of the director, which implies that the director takes into account sustainability issues, including human rights, climate change and environmental impacts. In this way, the director’s duty of care would be harmonised at EU level, which has not been the case so far due to the existence of different concepts of the director’s duty and the company’s interest in the member states. The Proposal was preceded by a Study on Directors’ Duties and Sustainable Corporate Governance. The Study was heavily criticised. The Study proposes a reform of directors’ duties which, if adopted in its current form, could have far-reaching consequences for corporate governance. The paper also looks at the possible consequences of a change in the director’s duty of care in the way provided for in the Proposal for a Corporate sustainability due diligence directive. Finally, the paper considers whether it is appropriate to harmonise directors’ duties at EU level.

Note: Downloadable document is in Serbian.

Keywords: Corporate Purpose, Corporate Social Responsibility, Due Diligence, Proposal for a Corporate Sustainability Due Diligence Directive, Sustainable Corporate Governance

Suggested Citation

Mitrovic, Milena, DUŽNOSTI DIREKTORA U ODRŽIVOM KORPORATIVNOM UPRAVLJANJU [Director’s Duties in Sustainable Corporate Governance] (September 23, 2023). Pravo i privreda, Vol. 61, Issue 3/2023, https://doi.org/10.55836/PiP_23308A, Available at SSRN: https://ssrn.com/abstract=4607086

Milena Mitrovic (Contact Author)

Luxembourg Centre for European Law ( email )

4, rue Alphonse Weicker
Luxembourg, 2721
Luxembourg

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