Hello Anjali
When Jason Voss raised this subject on this blog sometime back I chimed in then and am still of the opinion that a company should be run only for the benefit of its shareholders.
Let the shareholders decide what it is important for them, not corporate boards, and certainly not corporate executives.
Anything else will leave room for playing footsie by board members and executives, and lowered standards of corporate governance.
To illustrate my point, let's say you are the sole shareholder of a company with a large environmental and social footprint.
In whose interest would you like this company to be managed?
My two cents for the cause.
Kind regards
Savio