The Canadian Democracy and Corporate Accountability Commission, an independent body designed to…

The Canadian Democracy and Corporate Accountability Commission, an independent body designed to investigate corporate influence, issued its final report on January 2002. Among its 24 recommendations were that corporation’s laws should be amended to allow directors, at their discretion, to take into consideration the effect of their actions on the corporation’s employees, customers, suppliers and creditors; the effects of their actions on the community in which the corporation resides; as well as the long-term and short-term interests of the corporation and its shareholders. What is the problem with directors owing duties to all stakeholders? Are stakeholders interests accounted for in the existing Canadian law of director’ duties?