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This book discusses the implementation of sustainability in corporate governance mechanisms since 2013 and assesses how much the role of the Board of Directors has changed as a result. The study explores the impact of legislation upon corporate governance in two European contexts, the UK and Italy, which have been affected differently by changes in national regulations since 2013. This investigation relies first on the analysis of interviews administered to the boards of directors of Italian firms, to highlight how far sustainability objectives were considered a real priority for their firms and how their role evolved in terms of specific duties and practices. Second, thanks to a rich dataset from 2013 to 2017, the investigation considers the corporate governance reports of top Italian and British listed firms, to identify how the integration of sustainability within corporate governance has been evolving since 2013, and how it has been disclosed. This insider perspective provides the reader with a set of tools useful for analysing firms’ engagement towards sustainability, and for assessing whether listed firms practice what they preach.
An analysis of the issues raised concerning both sustainability and governance and an investigation of approaches taken to dealing with these issues. The research has been developed by experts from around the world who each look at different issues in different contexts.
This book provides a detailed overview of governance for the Sustainable Development Goals (SDGs). Adopting a unique integrative approach, it examines the fragmentation of governance that is a critical barrier to achieving the SDGs. The main question addressed is: What are the crucial elements and the organizing logic of an integrative framework that is suitable for analysing governance for the SDGs and for implementing the transitions that we need towards a more sustainable world? This transdisciplinary book first proposes a combination of innovative governance theories that can improve the analysis and practice of sustainability governance. Secondly, it explores the interests of core actors in a number of case examples. And thirdly, it offers recommendations for improving the study and practice of sustainability governance. The findings presented form the basis for a new approach to governance towards objectives such as the SDGs: Integrative Sustainability Governance (ISG). The ensuing ISG framework includes indicator frames within the pillars of power, knowledge and norms. The book concludes that the transformation of crisis into sustainability transitions requires a deeper consideration of risk management that strengthens resilience; systems deliberation that complements democracy; and behavioral insights that elevate human awareness and collaboration. This handbook is a comprehensive and valuable companion for students, experts and practitioners with an interest in the SDGs.
In recent years, as corporations and governments have increasingly been confronted with managing the expectations of a society newly alerted to the social and environmental risks of economic development, recognition is dawning that achieving a sustainable world is dependent upon the democratic management and equitable distribution of these risks for now, and for the future. This book, the first to explore the themes of corporate governance and sustainability, argues that a better system of governance on a number of levels holds the key. Contributed to and edited by a distinguished international team, this book recognizes the complex and contested nature of both sustainability and governance, and that these key concepts have been redefined considerably over time. As sustainability poses new and major challenges for the theory and practice of corporate governance, this book, ideal for postgraduate students of business and management, identifies and addresses these challenges.
As the process of globalization continues and power imbalances between decision-making institutions become increasingly apparent, the need for a critical assessment of the way in which we manage our interaction with the natural environment becomes ever more urgent. Good governance was identified at the World Summit on Sustainable Development as a critical factor for ensuring successful sustainable development. This book builds on the briefing papers that were presented at the Summit, taking further the discussions of the WEHAB agenda (Water, Energy, Health, Agriculture and food, and Biodiversity - the five international priority sectors highlighted by UN Secretary General Kofi Annan). This is a unique offering on the role and reform of global institutions and processes, raising issues that have previously been neglected in international discussions.
There has been a clear shift in perceptions regarding the relationship between corporate governance and sustainability. Directors now need to acknowledge that sustainability is part of their responsibility in guiding and overseeing corporate activities. As a practical matter, engaging with this wider responsibility is no easy task—an urgent set of challenges superbly met by this incomparable guide. This is the first book to describe how to organize board and senior management activities in order to fulfil the company's goals with respect to operating in a socially responsible manner and acting as a sustainable business. In its step-by-step approach to integrating sustainability principles into corporate governance, this book dramatically shows how policy in such business areas as the following can be redrawn to fit effectively into a sustainability framework: ? audit; ? compensation; ? finance; ? health and safety; ? compliance; ? risk management; ? technology; and ? disclosure and reporting. Numerous valuable suggestions highlight allocation of responsibilities to board committees, preparing and implementing internal governance instruments, and organizing, evaluating, and improving an effective sustainability governance system. Useful tools and resources include annotated forms and checklists, summaries of relevant international and national guidelines, and samples and case studies from companies around the world. The special case of small businesses is covered in a separate chapter. Given the redefinition and expansion of directors' fiduciary duties beyond shareholders to other stakeholders such as employees, customers, and local communities, this book will be welcomed by board members, their professional advisors, policymakers, researchers, and academics involved with issues and initiatives relating to sustainability, employee welfare, social concerns, and environmental stewardship.
For the past two decades corporate governance reform in Europe has been guided by the ‘shareholder value’ model of the firm. That model has been discredited as one of the major causes of the financial and economic crisis. In a new book published by the ETUI an alternative approach to corporate governance is presented by members of the GOODCORP network of researchers and trade unionists. This new approach, entitled the Sustainable Company, draws on both traditional ‘stakeholder’ models of the firm and newer concerns with sustainability. The main elements of the Sustainable Company and the institutions needed to support it are presented. Key themes in the book are the need for worker ‘voice’ in corporate governance and for a binding legislative framework to promote sustainability. Individual chapters deal with the issues of worker involvement, employee shareholding, sustainability-oriented remuneration, international framework agreements, NGO-trade union relationships, reforming financial regulation and carbon taxes and emissions-trading schemes.
Understanding the governance of complex social-ecological systems is vital in a world faced with rapid environmental change, conflicts over dwindling natural resources, stark disparities between rich and poor and the crises of sustainability. Improved understanding is also essential to promote governance approaches that are underpinned by justice and equity principles and that aim to reduce inequality and benefit the most marginalised sectors of society. This book is concerned with enhancing the understanding of governance in relation to social justice and environmental sustainability across a range of natural resource sectors in Sub-Saharan Africa. By examining governance across various sectors, it reveals the main drivers that influence the nature of governance, the principles and norms that shape it, as well as the factors that constrain or enable achievement of justice and sustainability outcomes. The book also illuminates the complex relationships that exist between various governance actors at different scales, and the reality and challenge of plural legal systems in much of Sub-Saharan Africa. The book comprises 16 chapters, 12 of them case studies recounting experiences in the forest, wildlife, fisheries, conservation, mining and water sectors of diverse countries: Madagascar, Zimbabwe, Botswana, Namibia, South Africa, Zambia, Mozambique, Sierra Leone and Cameroon.Through insights from these studies, the book seeks to draw lessons from the praxis of natural resource governance in Sub-Saharan Africa and to contribute to debates on how governance can be strengthened and best configured to meet the needs of the poor, in a way that is both socially just and ecologically sustainable.
The 17 Sustainable Development Goals (SDGs) which were adopted by the United Nations in September 2015 are universally applicable in all 193 UN Member States and connect the big challenges of our time, such as hunger and poverty, climate change, health in an urbanised environment, sustainable energy, mobility, economic development and environmental degradation. Sustainability has the characteristics of a ‘wicked problem’, for which there are no one-size-fits-all solutions. This book tests the hypothesis that the implementation of sustainable development, and in particular the 2015 SDGs, requires tailor-made metagovernance or ‘governance of governance’. This is necessary to develop effective governance and high quality and inclusive public administration and to foster policy and institutional coherence to support implementing the SDGs. Based on the growing literature on governance and metagovernance, and taking into account the specificities of societal factors such as different values and traditions in different countries, the book presents a framework for the design and management of SDG implementation. It shows how hierarchical, network and market governance styles can be combined and how governance failure can be prevented or dealt with. The book presents an overview of fifty ‘shades of governance’ which differ for each governance style, and a sketch of a concrete method to apply sustainability metagovernance. Metagovernance for Sustainability is relevant to academic and practitioner fields across many disciplines and problem areas. It will be of particular interest to scholars, students and policy-makers studying Sustainable Development, Governance and Metagovernance, Public Management and Capacity Building.
More than twenty years after the Bruntland Commission report, Our Common Future, we have yet to secure the basis for a serious approach to global environmental governance. The failed 2002 World Summit on Sustainable Development showed the need for a new approach to globalization and sustainability. Taking a critical perspective, rooted in political economy, regulation theory, and post-sovereign international relations, this book explores questions concerning the governance of environmental sustainability in a globalizing economy. With contributions from leading international scholars, the book offers a comprehensive framework on globalization, governance, and sustainability, and examines institutional mechanisms and arrangements to achieve sustainable environmental governance. It: considers current failures in the framework of global environmental governance addresses the problematic relationship between sustainability and globalization explores controversies of development and environment that have led to new processes of institution building examines the marketization of environmental policy-making; stakeholder politics and environmental policy-making; socio-economic justice; the political origins of sustainable consumption; the role of transnational actors; and processes of multi-level global governance. This book will be of interest to students and researchers of political science, international studies, political economy and environmental studies.