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Erschienen in:
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2023 | OriginalPaper | Buchkapitel

6. ESG Initiatives and Directors’ Fiduciary Duties

verfasst von : Dario Latella

Erschienen in: ESG Integration and SRI Strategies in the EU

Verlag: Springer Nature Switzerland

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Abstract

On February 23, 2022, the European Commission adopted a Proposal for a Directive of the European Parliament and of the Council on Corporate Sustainability Due Diligence and amending Directive (EU) 2019/1937. The Proposal aims to harmonize existing national or voluntary rules on due diligence by establishing a corporate sustainability due diligence duty to address negative human rights and environmental impact. In this chapter the author analyzes the relations existing between ESG initiatives and directors’ fiduciary duties, to investigate what might be the limits of efficiency in ESG regulation. Directors’ duties concerning the ESG issues are only one part of the broader legal construction of “the company”, thus, a broader approach is probably necessary and suggests pathways towards more effective development of law and regulation in this field.

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Vorheriges Kapitel Attractiveness of Sustainable Business and Investments: An Ethical, Legal or a Financial Issue?
Nächstes Kapitel Insurance Industry and Sustainability Preferences: Contracts and Products
Fußnoten
1
Several documents are available on the topic: of course, see the european commission, Proposal for a directive of the European Parliament and of the Council on Corporate Sustainability Due Diligence and amending Directive (EU) 2019/1937, Brussels, 23.2.2022, COM (2022) 71 final; the european commission, Corporate sustainability due diligence. Fostering sustainability in corporate governance and management systems, [no date], available online at: https://​ec.​europa.​eu/​info/​business-economy-euro/​doing-business-eu/​corporate-sustainability-due-diligence_​en); the european commission-EY, Study on directors’ duties and sustainable corporate governance. Final report, July 2020, available at: https://​op.​europa.​eu/​it/​publication-detail/​-/​publication/​e47928a2-d20b-11ea-adf7-01aa75ed71a1/​language-de; the european commission, directorate general for employment and social affairs, Unit D.1., Abc of the Main Instruments of Corporate Social Responsibility, Employment & Social Affairs—Industrial Relations and Industrial Change, Luxembourg: Office for Official Publications of the European Communities, 2004, 9–55; european commission, directorate general for justice and consumers, Study on directors’ duties and sustainable corporate governance: final report, Publications Office, 2020, available online at: https://​data.​europa.​eu/​doi/​10.​2838/​472901; of course, for any previous deepening, european company law experts group (ecle), The European Parliament’s Draft Directive on Corporate Due Diligence and Corporate Accountability. Available at: ECLE_ECGI_19 April 2021 (wordpress.com). Also published in Riv. Soc. 2-3/2021, 276–296; and european council, Conclusions on Human Rights and Decent Work in Global Supply Chains, Brussels, 1 December 2020, 13512/20.
 
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Metadaten
Titel
ESG Initiatives and Directors’
verfasst von
Dario Latella
Copyright-Jahr
2023
Buch
ESG Integration and SRI Strategies in the EU

Print ISBN: 978-3-031-36456-3

Electronic ISBN: 978-3-031-36457-0

Copyright-Jahr: 2023

DOI
https://doi.org/10.1007/978-3-031-36457-0_6