Groups including EuropeanIssuers and ecoDa warn against an EU requirement for firms to consider stakeholder interests when making decisions.
Boards in Europe should not face a legal duty to consider all stakeholders when making decisions, according to a letter from a leading group of business bodies.
Led by EuropeanIssuers, a body representing listed companies across the EU, and ecoDa, the European association representing institutes of directors, the letter supports stakeholder engagement but insists a legal requirement to consider their interests will not work.
The letter, which has also been signed by a number of other bodies—including EFB, an association for family businesses and FESE, an organisation representing European security exchanges—says the Commission “sh
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