In July 2020, the European Commission published the “Study on directors’ duties and sustainable corporate governance” by Ernst & Young (EY). The Report purports to find evidence of debilitating short-termism in EU corporate governance and recommends many changes to support sustainable corporate governance. In this paper, we point out deep flaws in the Report’s evidence and analysis. We recently submitted the content of this paper in response to the European Commission’s call for feedback. Parallel issues have arisen in American discourse, although none has reached the incipient lawmaking level that it has in Europe
Roe, Mark; Spamann, Holger; Fried, Jesse; and Wang, Charles, "The Sustainable Corporate Governance Initiative in Europe" (2021). Yale Journal on Regulation Online Bulletin. 7.