The sustainable enterprise: the multi-fiduciary perspective to the EU sustainability strategy

Danese, Giuseppe (2007) The sustainable enterprise: the multi-fiduciary perspective to the EU sustainability strategy. UNSPECIFIED.

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    This essay deals with two issues. First, it tries to delineate, via the concept of enlarged fiduciary proviso, the contribution of Corporate Social Responsibility (CSR) to the implementation of the EU Sustainability Strategy. The primary aim of the European institutions in delineating such strategy was to promote a concern for the environment, interpreted here as a proxy for the welfare of future generations of stakeholders. Progresses towards sustainable development can be made if we interpret CSR as a governance framework that extends fiduciary protection from a mono-takeholder perspective, in which the sole relevant constituency for the design of corporate policy is the shareholders’, to a multi-stakeholder perspective, in which legitimate claims are held by a variety of constituencies, possibly operating at different times. Secondly, the essay tries to establish an organic link between the concept of sustainability and a Social Contract account of the business enterprise. The Social Contract of the stakeholders, an ideal reference point for corporate policy-makers, is formed behind a veil of ignorance, resulting in an agreement that is both impartial and nonhistorical.

    Item Type: Departmental Technical Report
    Department or Research center: Economics
    Subjects: H Social Sciences > HB Economic Theory > HB131 Methodology
    Uncontrolled Keywords: Corporate Social responsibility (CSR), Sustainability Strategy, Fiduciary Duties
    Additional Information: Pubblicazione registrata presso il Tribunale di Trento.
    Report Number: 21
    Repository staff approval on: 23 Nov 2007

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