It's entirely possible to still satisfy those requirements by building a sustainable and moral company. The shareholders get to vote, if they don't like it they'll make that clear.
I think you don't understand what this phrase means. In a publicly-traded company, "the interest of the shareholders" does not mean "whatever the shareholders want"; it means "whatever is best for the company." That means money.
It may be possible to be both profitable and moral; but if it isn't, the fiduciary duty obligates corporate officers to choose the profitable path rather than the moral one.
The easy way of looking at this is that there beyond complying with the law, there is no general obligation for companies to behave morally, but there is a general obligation to behave profitably. So it's not hard to see why they make they choices they do.
> It's entirely possible to still satisfy those requirements by building a sustainable and moral company.
It is, but it's a lot easier to be not sustainable and not moral.
What is that based on? I'd say there are certainly obligations for both.
The fact that some ignore those obligations - either obligation, for example when corrupt management stuffs its own pockets - doesn't make them less.
That's quite a statement.
> I think you meant to write "fiduciary duty"
No, our responsibilities go far beyond fiduciary duties. You can see what Google did in this case, for example, or Apple's extraordinary investment in engineering for privacy a "human right", per Apple - far more than its users grasp or could understand.
> the company's board have an affirmative legal obligation to act in the interest of stockholders, regardless of moral impact.
That's a theory of the ~1980s that people who suffer from its consequences still seem to latch onto - perhaps it's simplicity is appealing, maybe its algorithmic decision-making appeals to the IT world - but not true.
Even now, when such things are at historical extremes, corporations take into account other issues. Not long ago, DEI and ESG were widely accepted and practiced.