Examining the role of corporate governance law in promoting sustainable development in the developing world: the case of Uganda

Abstract

Sustainability is a growing phenomenon in the international and regional legal atmosphere. With companies contributing greatly to climate change through their environmental impact, there has arisen the need to address corporate governance structures to ensure that the negative effect of company activity on stakeholders is mitigated. Corporate governance has for long been a tool through which companies are managed. In recent decades, however, it has gained recognition as a tool through which sustainability can be achieved. As the legal framework on sustainable development grows, various jurisdictions have incorporated sustainability into their corporate governance structures and adopted sustainable methods of corporate governance to achieve this goal. The ENRON scandal and the Great Financial Depression of 2008 were eye-openers on the impact of corporate governance failure. Without good governance of corporate activity, society will always suffer. In developing countries like Uganda, there is a growing need to recognize the legal reality and address it accordingly. The legal framework on corporate governance and sustainability is inadequate to meet the required international standard. This thesis investigates the law on corporate governance and sustainability in Uganda.