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This article discusses the EU proposal for a new Directive on Corporate Sustainable Due Diligence that was made public in February 2022. It reviews the content of the new draft Directive compared with the two previous separate initiatives on due diligence and directors’ duties that constitute its base. Parallel, the article highlights problems that still remain, particularly regarding the corporate governance part. Finally, the article discusses the reactions that the draft Directive has so far given rise to. The article is a follow-up to a previous article; ‘EU and Sustainable Corporate Governance’, that was published in NTS no.3 2021 and which reviews the earlier EU proposal on directors’ duties in greater detail.
Hanne Søndergaard Birkmose og Therese Strand
Therese Strand og Laura Arranz-Aperte
This article considers shareholder-based nomination committees as a unique feature of the Nordic corporate governance model. Shareholder-based nomination committees constitute the standard model in Sweden and Norway since the publication of each country’s first national corporate governance code in 2004. The same model has since been implemented in the national codes for Iceland (2009) and Finland (formally 2015 although it was possible to appoint a shareholder-based committee already before). An ongoing study now provides some insights on the effects of this model.
The article serves three purposes. First, it summarizes the development of shareholder-based nomination committees as a standard principle in Nordic corporate governance codes. Second, it explains and compares the most recent guidelines with focus on differences between the Nordic countries. Third, it reviews the ongoing study with regards to research questions and results. Finally, the implications for the Nordic debate are discussed.