Directors are already ahead of the curve on ESG

The bill aims to clarify that directors may take into account non-financial factors. (Image: Getty)

Sat, 28 Jan 2023

Bell Gully has suggested the Companies (Directors Duties) Amendment Bill be scrapped because it is unnecessary and may have unintended consequences. Among the issues noted in its submission on the bill were the risk of increasing litigation, increasing compliance costs and encouraging a check-box mentality. Bell Gully is not the first law firm to raise concerns. Chapman Tripp has suggested the bill could be a distraction when more comprehensive reform may be needed. Russell McVeagh said the bill may create confusion as to the sc...

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