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That's very disturbing as there seems to be no basis in statute (IANAL either). Course being Wiley I can't read beyond the abstract. The FT has run frequent ar
by NeedMoreTea 7y ago
That's very disturbing as there seems to be no basis in statute (IANAL either). Course being Wiley I can't read beyond the abstract.
The FT has run frequent articles particularly, but not solely, US and UK focused that appear to contradict that, including some quite in depth pieces.
Not the most definitive of the many they've run, but from first page of search a US-centred piece from a US author, who's also a US lawyer:
But the controlling legal rule is universal and rock-solid: in every US jurisdiction, boards are allowed to use their “business judgment” to pursue ESG (environmental, social, and governance) principles for the purpose of creating long-term corporate value
Which is what you'd reasonably expect, as short-term pursuit of shareholder value can be of extreme detriment to the longer term prospects of the company - and therefore shareholders.
https://www.ft.com/content/6e806580-d560-11e9-8d46-8def889b4137 https://www.ft.com/content/6e806580-d560-11e9-8d46-8def889b4...