Corporate Governance and Sustainable Development

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Author(s): Bilan Sahidi (University of Sunderland in London, UK)and Vipin Nadda (University of Sunderland in London, UK)
Copyright: 2025
Pages: 14
Source title: Governance Strategies for Effective Sustainable Development
Source Author(s)/Editor(s): Vipin Nadda (University of Sunderland, UK), Uday Bhan Singh (Central University Dharamshala, India)and Bilan Sahidi (The University of Sunderland, UK)
DOI: 10.4018/979-8-3693-3011-1.ch004

Keywords: Engineering Science Reference / Environment & Agriculture / Sustainability / Sustainable Development

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Abstract

Corporate governance has become one of the burning topics of our times. With the emergence of new markets, corporations are engaged in cutthroat competition in their quest for raw materials and natural resources for economic growth. Many of these natural resources are scarce, not renewable and depleted. The livelihood of humans and animals is in danger. Some species are on the brink of extinction; the ecological crisis is a reality. One of the main reasons for this scandal and catastrophe is the frantic race for profit. Corporations are under tremendous pressure to prioritise shareholders' values at the expense of other stakeholders' interests. Greedness and unethical behaviour are parts of corporate governance scandals that led to the financial crisis of 2008, global poverty, terrorism, etc. All these issues are real existential threats to present and future generations. Thus, strict regulation of corporate governance is essential for ethical reasons. Sustainable business and sustainable development are crucial to preserve humankind from extinction.

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