Document Type


Publication Title

Emory Corp. Governance & Accountability Rev. Perspectives

Publication Date

Spring 1-3-2023


In recent years, Stakeholder Capitalism and ESG have become widely used terms not only in corporate board rooms, but in media commentary more generally. As their use and influence in practice have both grown, so, too, has the pushback from opponents of these values-based norms for the way the world does business. Indeed, in recent months, numerous Republican-led states, like Texas, have taken more substantive actions designed to thwart the actions and aims of ESG- and stakeholder capitalism-oriented corporations and investment funds. But what, exactly, do these terms mean? And where do these terms come from? Moreover, what’s all the fuss about? And why are states like Texas taking active steps to discourage or even ban corporate ESG initiatives?

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