ABSTRACT
The social and environmental costs imposed by business corporations on society are significant and, as a society, we are increasingly concerned about how to mitigate these impacts. It is this concern and the apparent inability of government to take decisive steps that has made the question of the company’s ‘purpose’ the ‘hottest topic’ in corporate governance. This article explores recent proposals by several highly eminent bodies to fundamentally reconceive of the company as a purposeful entity that exists, not to make profit, but to solve the problems faced by people and planet. The article will assess the normative arguments that underpin these proposals and will highlight the shortcomings of a purposeful company approach.
Grantham, Ross B, People, Plant, and Profits: Re-Purposing the Company (February 2, 2021). (2021) 38(4) Company and Securities Law Journal 250-273.
First posted 2021-04-23 14:30:20
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