Three Special Stakeholders: Society, the Environment, and Government
Corporate law and corporate responsibility, sustainability and the environment, and the relationship between government and the private sector.
- Corporate law and corporate responsibility
- Sustainability: business and the environment
- Government and the private sector
- Regulation and compliance
- Licence to operate
Some stakeholders have no contract with the firm and no invoice to send, yet they carry the consequences of its decisions: the wider society, the natural environment, and the state that licenses the company to exist.
Learning objectives
- Explain how corporate law shapes corporate responsibility
- Describe sustainability as a business obligation, not a slogan
- Analyse the relationship between government and the private sector
Notes
CSR vs ESG
CSR is a philosophy of obligation; ESG is a measurement and disclosure regime. They overlap but are not the same claim.
Compliance is the floor
Meeting environmental regulation is the minimum; the interesting decisions are the ones the law does not reach yet.
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