May 2024
Corporations continue to severely harm the environment because of two things: (i) the law that directors must always act in their company’s best interests and (ii) the huge investments in destructive facilities and technologies which would have to be written-off if certain companies suddenly stopped earning money from them.
Corporations have no conscience which would stop them from, among other things, emitting greenhouse gases, simply because the law fails to give them one. Actually, the law provides directors with the opposite: encouragement and justification for allowing their company’s damaging behaviour to continue.
Knowing what we now know, how is this still possible? Everywhere on Earth, governments from a long time ago, passed laws allowing for the creation of companies with the latent capacity to cause great harm, which today’s governments now can’t stop.
Times have changed. New corporate behaviours have been found to be more destructive than anyone back then could have imagined.
The solution is for today’s governments to recognize the problem their predecessors created and to fix it by legally implanting a conscience in every company. It only takes eleven words.
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