Corporate Governance and corporate "sustainability": from CSR to ESG, and corporate "sustainability"

We explore the relationship between corporate governance and corporate sustainability, following the development of Corporate social responsibility to the more comprehensive form of ESG. We analyze the structure and composition of corporate governance, finding out the issue between the shareholders and management. Furthermore, we discuss the changing definitions of corporate sustainability over time, including corporate social responsibility, ESG and corporate sustainability, considering the roles of law and its application in corporate governance. We then distinguish the similarities and differences between these three terms, aiming to measure the problem of an obligation to the company to take their social responsibility or act only depending on their interest. Based on this research, we review proposed legislation of Corporate sustainability due diligence, understanding the pros and cons to the company and the whole society.