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ARTICLE · 22 JANUARY 2021

Proxy Season Preview 2021: ESG Considerations

On January 14, 2021, Laurel Hill Advisory Group ("Laurel Hill") and Fasken hosted a webinar on ESG (environmental, social and governance) considerations of which ...

CanadaCorporate/Commercial Law

On January 14, 2021, Laurel Hill Advisory Group ("Laurel Hill") and Fasken hosted a webinar on ESG (environmental, social and governance) considerations of which companies should be aware for the upcoming 2021 proxy season. The webinar's panelists were David Salmon of Laurel Hill and Emilie Bundock, Stephen Erlichman and Grant McGlaughlin of Fasken and was moderated by Gordon Raman of Fasken. Set out below are some of the comments made by the speakers on the webinar.

Background

The importance of ESG considerations in today's corporate governance model has developed over the past 50 years. In the early 1970's the Milton Friedman view of corporations was the dominant business mindset. In a forceful New York Times article he said that business leaders that "believed business is not concerned 'merely' with profit but also with promoting desirable 'social' ends .[were]. preaching pure and unadulterated socialism". Since that time, certainly in North America,

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