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Affiliation(s)

National University of Distance Education (UNED), Madrid, Spain

ABSTRACT

Corporate governance and corporate social responsibility is increasingly becoming a reality, especially, of listed companies. In the EU, it is regulated by the Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006 and Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013. The corporate governance framework for listed companies in the EU is a combination of legislation (hard law) and soft law, including corporate governance codes and recommendations. While corporate governance codes are adopted at national level, Directive 2006/46/EC promotes their application by requiring that listed companies refer in their corporate governance statement to a code and that, they report on their application of that code, on a comply or explain basis, which means that a company that chooses not to comply with these recommendations must explain which parts it has not complied with and for what reasons. Another aspect is related to the appointment and composition of boards of director based on diversity in terms of gender, race, ethnicity and nationality. As corporate social responsibility, listed companies may voluntarily address environmental, social and employee-related issues, human rights, anti-corruption and bribery in their sustainability reports. These regulations contemplate the progressive assumption of the triple dimension of sustainability: economic, social and environmental of the Agenda 2030 and a new culture of ethics in business management. The question, the object of this article, is to indicate the social aspects of sustainable development that these companies are deemed to integrate (hard law) and address in their sustainability reports (soft law) in order to be socially more sustainable. To this end, it is necessary to analyze the concept of decent work and how it is included in the fundamental texts of EU social law: Charter of Fundamental Rights of the European Union, 20 principles of the European Pillar of Social Rights and derivative law.

KEYWORDS

sustainable development, corporate governance and corporate social responsibility, social aspects

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