Luci e ombre della banca etica: la realizzazione dello scopo etico tra responsabilità degli amministratori e codici di comportamento

The ethical finance sector, which has become increasingly important in recent years, places the person and the environment at the centre of credit and investment activities. Article 111-bis T.U.B., in discontinuity with the previous legal system, introduces a definition of “ethical finance operator”. However, if, on the one side, this provision has the merit of anchoring the evaluation of ethicality to objective parameters, on the other side, it presents significant gaps. The absence of a clear and systematic legal framework raises the question of whether there is an obligation on the ethical bank’s directors to pursue the ethical purpose and what the consequences of failing to do so would be. The article attempts to answer this question, firstly by developing a comparison between the ethical bank and the benefit legal entity, and then by examining what implications the duty of pursuing these “further” aims might acquire if the bank were to adopt a code of ethics. Finally, some reflections are outlined on the enforceability of mechanisms provided for by the discipline of unfair commercial practices to protect the interests of the stakeholders of an ethical bank.