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Green Dividends: A Case Study in Green Dividends and the Conditions for Private Ordering Solutions

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Názov: Green Dividends: A Case Study in Green Dividends and the Conditions for Private Ordering Solutions
Autori: Tucker, Anne M.
Zdroj: SSRN Electronic Journal.
Informácie o vydavateľovi: Elsevier BV, 2025.
Rok vydania: 2025
Predmety: Business Organizations Law, Civil Law, Contracts, Admiralty, Conflict of Laws, European Law, Courts, Bankruptcy Law, and Sports Law, Criminal Law, Consumer Protection Law, Energy and Utilities Law, Estates and Trusts, Banking and Finance Law, Evidence, Criminal Procedure, Agriculture Law, alstria, Constitutional Law, Animal Law, Construction Law, Dispute Resolution and Arbitration, Computer Law, Election Law, Commercial Law, Antitrust and Trade Regulation, Cultural Heritage Law, Administrative Law, Comparative and Foreign Law, Communications Law, Disaster Law, Education Law, Disability Law, Environmental Law, green dividends, ESG, Entertainment, Civil Procedure, Elder Law, Arts, Accounting Law, First Amendment, Air and Space Law, securities law, Agency, Civil Rights and Discrimination, Common Law, shareholder, dividends, Family Law
Popis: This Essay introduces a novel private ordering solution to facilitate corporate investments in pro-social and environmental initiatives: Green dividends. Green dividends are an optional increase in shareholder dividends that are returned to the company to be reinvested in environmental initiatives or kept by a shareholder. Green dividends pose an alternative to the current gridlocked debate that corporations can’t, won’t, shouldn’t, and shouldn’t even try to act in pro-social or environmental ways. Turning the common refrains on their head converts each narrative into an element for a successful private ordering solution: authority, accountability, shareholder buy-in, and government- backed enforcement. With Green dividends, shareholder voting establishes board authority to act and shareholder consent. Shareholder voting rules import securities laws’ mandate of complete and truthful information backed up by private rights of action. This Essay maps Green dividends—first used in Germany—to U.S. corporate law and identifies Green dividends’ potential benefits and pitfalls. The Essay concludes with an extension of Green dividends but acknowledges that Green dividends will not facilitate all pro-social and environmental corporate investments. Green dividends are a tool in a growing toolkit that corporations can continue to expand with private ordering.
Druh dokumentu: Article
Popis súboru: application/pdf
Jazyk: English
ISSN: 1556-5068
DOI: 10.2139/ssrn.5342068
Prístupové číslo: edsair.doi.dedup.....b661a08d7868a1c0eb7c198340a1121d
Databáza: OpenAIRE
Popis
Abstrakt:This Essay introduces a novel private ordering solution to facilitate corporate investments in pro-social and environmental initiatives: Green dividends. Green dividends are an optional increase in shareholder dividends that are returned to the company to be reinvested in environmental initiatives or kept by a shareholder. Green dividends pose an alternative to the current gridlocked debate that corporations can’t, won’t, shouldn’t, and shouldn’t even try to act in pro-social or environmental ways. Turning the common refrains on their head converts each narrative into an element for a successful private ordering solution: authority, accountability, shareholder buy-in, and government- backed enforcement. With Green dividends, shareholder voting establishes board authority to act and shareholder consent. Shareholder voting rules import securities laws’ mandate of complete and truthful information backed up by private rights of action. This Essay maps Green dividends—first used in Germany—to U.S. corporate law and identifies Green dividends’ potential benefits and pitfalls. The Essay concludes with an extension of Green dividends but acknowledges that Green dividends will not facilitate all pro-social and environmental corporate investments. Green dividends are a tool in a growing toolkit that corporations can continue to expand with private ordering.
ISSN:15565068
DOI:10.2139/ssrn.5342068