Rethinking compliance and sustainability through collective action
The debate about whether companies have moral responsibilities as firms themselves, or whether this is only something individuals can exercise, continues to shift. Nowadays many believe that the so-called responsibility deficit means that a company’s obligations must go beyond its fiduciary duty to shareholders, and extend to a wider group of stakeholders. More broadly, sustainability has become a conventional governance topic. It is shorthand for a wide range of risks, standards, and interests with a scope that covers the economy and society. Companies failing to meet these standards have been at the centre of public scandals, with legal liability for individuals and companies.