Regulation models of corporate sustainability in joint stock companies

Sustainability has been a concept accepted since the primitive periods of history and, over time, has evolved into a concept addressed within the framework of 'sustainable development,' encompassing environmental, social, and economic factors. In terms of joint-stock companies, this issue has been discussed within the framework of corporate sustainability, focusing on the impact of sustainability issues on joint-stock companies, the management of risks and opportunities, investor protection, and the interests of stakeholders in the broader sense, all within the focus of corporate governance. Regulation models regarding corporate governance include non-legal and non-binding principles and binding legal rules. Which of these regulatory models is more appropriate for the corporate governance approach has been a frequently debated subject in the doctrine. Although similar discussions have been made in terms of corporate sustainability, the issue has been discussed more intensely than the other ones due to the fact that it includes urgent issues such as climate crisis and human rights. In this context, the superior and deficient aspects of regulation models in terms of corporate sustainability are explained, and at the same time, the impact assessment of regulation models is made and recommendations are presented.