ESG对董事义务的改造:从商业判断到社会判断的进化  

The Change of Directors'Duties by ESG:Evolution from Business Judgment to Social Judgment

作　　者：蒋大兴[1] Jiang Daxing

机构地区：[1]北京大学法学院

出　　处：《中国法学》2024年第4期88-109,共22页China Legal Science

基　　金：2021年度国家社科基金重点项目“公司法修订中的重大问题研究——基于私人自治与公共规制之间的平衡”(项目批准号:21AFX019)的阶段性成果。

摘　　要：从企业社会责任(CSR)到环境、社会和公司治理(ESG),都要求公司在从事营利性经营时,要关注环境、社会和公司治理的改善。ESG试图将公司内部治理与环境和社会改善衔接起来,使社会责任直接融入公司的商业决策中,从而建立起社会利益与公司商业利益之间的融通渠道。当然,不同国家、不同公司在不同阶段所关注的ESG议题存在差异。各国为推进ESG所采取的法律机制主要有组织法、交易法和规制法三种机制。其中,核心是改造董事的义务结构,让社会判断原则正式步入董事会的商业决策过程,社会判断将与商业判断共同构成董事义务履行正当性的内核标准。社会判断义务在履行主体、履行场景、履行时间的具体构造上,均有其特殊性。董事会要尽可能避免商业判断与社会判断的冲突,在商业决策方法上,应采取“交错考量”的方式,平衡商业判断与社会判断的关系,让二者互为“安全港”。From CSR to ESG,corporations are required to pay attention to environmental,social and governance improvements when engaging in for-profit operations.Moreover,ESG attempts to link internal corporate governance with environmental and social improvements,and integrates social responsibility directly into a corporation's business decisions,thus creating a channel between social interests and the corporation's business interests.Due to the diversity of corporation types and differences in the level of development between countries,ESG issues vary from country to country and from corporation to corporation at different stages.Around the world,the legal mechanisms adopted to promote ESG are mainly organizational law,transactional law and regulatory law.Among them,the core is to change the structure of directors'duties,so that the principle of social judgment is formally introduced into the business decision-making process of the board of directors.Social judgment and business judgment willtogether constitute the core criterion for the legitimacy of the performance of directors'duties.The specific structure of social judgment duty is special in the subject,scenario and time.In order to avoid the conflict as much as possible,an‘intertwined considerations'approach should be adopted to balance the relationship between business judgment and social judgment in the business decision-making methods,so that the two can serve as'safe harbors'for each other.

关 键 词：CSR ESG 公司法 董事义务 商业判断 社会判断 

分 类 号：D922.291.91[政治法律—经济法学]