In many jurisdictions there has been a considerable increase in focus on corporate governance issues in recent years. In particular, additional requirements have been introduced, or are being proposed, to the corporate governance landscape that seek to further widen social and stakeholder goals. This reflects an acknowledgement of the important role played by businesses both domestically and internationally.
In the UK this trend has manifested itself in a renewed focus on the role of business in society. This has been driven, at least in part, by a number of actual or perceived corporate failures. Much of the discussion has focused on corporate purpose and how companies
should take into account the interests of their wider stakeholders (including the workforce, customers and suppliers), rather than simply be run in a way that is perceived to favour only shareholders.
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© Herbert Smith Freehills 2021