ESG Capitalism from a Law and Religion Perspective
2. The ESG Movement
3. The “Faith-Based” ESG Movement
3.1. “Faith-Based” Environmentalism
3.2. “Faith-Based” Companies
4. Conclusions—What Lessons for Europe?
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
This category also includes what is now more commonly referred to as “the precariat”. This term can be traced back to Guy Standing in (Standing 2021) (describing the precariat as a “class-in-the-making” that is generally subject to flexible labour relations and fragmented careers) 25.
The disproportionate impact of the pandemic on vulnerable groups has been recently addressed in UN GA, Response and recovery plans and policies on the coronavirus disease (COVID-19) pandemic from the perspective of the right to development at the national level. Report of the Special Rapporteur on the right to development Saad Alfarargi, July 2022, UN Doc. A/HRC/51/30.
See Statement of Ahmed Shaheed UN Special Rapporteur on Freedom of Religion or Belief (2020). More recently, the former Rapporteur explored this issue also in connection with the FoRB rights of indigenous people. See United Nations General Assembly (2022).
See United Nations General Assembly (2021), para. 34. For detailed guidelines on how to develop “comprehensive anti-discrimination legislation”, see United Nations Human Rights Office of the High Commissioner (2023).
This is what has led one scholar to clinically announce “the end of ESG” (Edmans 2022).
The implications of this perspective will be discussed in the next sections of this paper.
This document was adopted by the Governing Body of the International Labour Office at its 204th Session (Geneva, November 1977) and amended at its 279th (November 2000), 295th (March 2006), and 329th (March 2017) Sessions. The 1977 version of the Declaration can be accessed at https://investmentpolicy.unctad.org/international-investment-agreements/treaty-files/2886/download (accessed on 12 February 2023).
The report is available at https://www.unepfi.org/fileadmin/documents/amwg_materiality_equity_pricing_report_2004.pdf (accessed on 31 December 2022).
The report is available at https://www.ifc.org/wps/wcm/connect/de954acc-504f-4140-91dc-d46cf063b1ec/WhoCaresWins_2004.pdf?MOD=AJPERES&CVID=jqeE.mD (accessed on 31 December 2022).
See Black Lives Matter’s mission statement at: https://uca.edu/training/files/2020/09/black-Lives-Matter-Handout.pdf (accessed on 5 January 2023).
This document is available at https://www.vatican.va/content/francesco/en/encyclicals/documents/papa-francesco_20150524_enciclica-laudato-si.htmlZ (accessed on 6 January 2023).
(Berry 2022). (arguing that “there are massive incentives for religious actors to take a public stance on climate change”) p. 131.
The full text of this Biblical injunction is “Be fruitful and multiply, and fill the earth and subdue it; and have dominion over the fish of the sea and over the birds of the air and over every living thing that moves upon the earth”.
The report is available at https://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_838653.pdf (accessed on 17 February 2023).
Notable in this respect is how Article 17, paragraph 2, of the Treaty on the Functioning of the European Union (TFEU) mandates the legal equivalence between churches and philosophical and non-confessional organisations.
This term can be traced back to Ross (2021) (emphasis added). See also United Nations and Swiss Department of Foreign Affairs (2004) (describing the objective of “creating long-term value for shareholders” as a “business philosophy”).
This term should be traced back to Fukuyama (2022) (discussing how conventional laissez-faire economic theory “has successfully persuaded two generations of economists and legal scholars to adopt the consumer welfare standard as the sole measure of economic [and legal] outcomes”) 38 (parenthesis added).
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Corsalini, M. ESG Capitalism from a Law and Religion Perspective. Religions 2023, 14, 418. https://doi.org/10.3390/rel14030418
Corsalini M. ESG Capitalism from a Law and Religion Perspective. Religions. 2023; 14(3):418. https://doi.org/10.3390/rel14030418Chicago/Turabian Style
Corsalini, Matteo. 2023. "ESG Capitalism from a Law and Religion Perspective" Religions 14, no. 3: 418. https://doi.org/10.3390/rel14030418