The paper proposes a “constitutionally oriented” reading of corporate sustainability. In 2022, the Italian Constitution was significantly revised. It established that the Republic “safeguard[s] the environment, biodiversity and ecosystems, also in the interest of future generations” (Art. 9) and that private economic enterprise may not be carried out in a manner that could harm health and the environment. Furthermore, the law shall determine appropriate programs and checks to ensure that public and private economic enterprise activities are directed and coordinated for social and environmental purposes (Art. 41). Considering this premise, the paper examines whether and to what extent adherence to ESG criteria—and, more generally, issues of corporate social responsibility (CSR)—is consistent with the new perspectives opened by the constitutional reform. The focus of the examination is to reconstruct the scope of the new constitutional provisions—especially concerning the "intergenerational” dimension—and to verify how the application of ESG criteria can be seen as an activity that is also “constitutionally qualified.” In particular, the chapter reflects on the possibility of a “constitutionally oriented” reading of social responsibility principles and how companies adhering to ESG criteria might spontaneously conform their initiatives to the “function” of private initiative as envisioned by the new Art. 41 of the Italian Constitution.
ESG and the Reformed Italian Constitution: towards a Constitutionally Oriented Reading of Corporate Sustainability
Pietro Milazzo
2024-01-01
Abstract
The paper proposes a “constitutionally oriented” reading of corporate sustainability. In 2022, the Italian Constitution was significantly revised. It established that the Republic “safeguard[s] the environment, biodiversity and ecosystems, also in the interest of future generations” (Art. 9) and that private economic enterprise may not be carried out in a manner that could harm health and the environment. Furthermore, the law shall determine appropriate programs and checks to ensure that public and private economic enterprise activities are directed and coordinated for social and environmental purposes (Art. 41). Considering this premise, the paper examines whether and to what extent adherence to ESG criteria—and, more generally, issues of corporate social responsibility (CSR)—is consistent with the new perspectives opened by the constitutional reform. The focus of the examination is to reconstruct the scope of the new constitutional provisions—especially concerning the "intergenerational” dimension—and to verify how the application of ESG criteria can be seen as an activity that is also “constitutionally qualified.” In particular, the chapter reflects on the possibility of a “constitutionally oriented” reading of social responsibility principles and how companies adhering to ESG criteria might spontaneously conform their initiatives to the “function” of private initiative as envisioned by the new Art. 41 of the Italian Constitution.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
