Minimizing Risk Resulting From a Post-COVID-19 Focus on ESG Issues
While many companies have proclaimed their commitment to environmental, social, and governance issues for years, the pandemic's pervasive effect on American workers, customers, and society has heightened the existing pressure on companies to focus on profit maximization and the creation of tangible shareholder value.
May 15, 2020 at 03:55 PM
8 minute read
The original version of this story was published on Corporate Counsel
During the past two months, the COVID-19 pandemic has prompted discussion regarding the proper role of the American corporation. Among these discussions is a renewed focus on environmental, social, and governance ("ESG") issues. While many companies have proclaimed their commitment to ESG issues for years, the pandemic's pervasive effect on American workers, customers, and society has heightened the existing pressure on companies to focus on profit maximization and the creation of tangible shareholder value.
Leo Strine, former Chief Justice of the Delaware Supreme Court, encapsulated this public reckoning in a recent article, in which he opined on the manner in which corporations should respond to the pandemic:
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