ABSTRACT
This paper argues for a fundamental reimagining of corporate law through the lens of intergenerational equity and justice, a perspective that has received scant attention in the literature on corporate governance. It exposes the inherent weaknesses of the existing framework in promoting intergenerational equity and proposes an innovative intergenerational corporate framework. The paper envisions a corporate landscape where the interests of future generations are central to decision-making, challenging the entrenched primacy of short-term shareholder interests. It acknowledges the difficulties in reshaping the current system but argues that such a radical shift is necessary to address pressing social and environmental challenges. By redefining corporate purpose and directors’ duties, this paper lays the groundwork for a more sustainable and equitable future.
Cheong, Ben Chester, Sowing Seeds of Change: Intergenerational Justice in Corporate Law and Governance (March 3, 2024), (2024) Journal of Business Law (Forthcoming).
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