Transformación industrial, sostenibilidad medioambiental y gobierno corporativo: el papel de los consejeros independientes

Abstract

The purpose of this research is to investigate the role of Corporate Governance and, more specifically, of independent directors in the promotion of advanced environmental practices aimed at fostering industrial and energy transition in Spanish companies in line with European regulations on the subject. The results obtained from the analysis of IBEX 35 companies in the period 2019-2021 suggest that the presence of independent directors has a direct and positive effect on the implementation of advanced environmental practices in these companies, which can be interpreted from two complementary perspectives such as the Agency Theory and the Natural View of Resources and Capabilities. These results offer interesting implications for the role of these directors as a channel for channelling the environmental demands of stakeholders and also in relation to independent directors as drivers of advanced environmental practices