Pub Date : 2022-02-28DOI: 10.1007/s40804-021-00236-w
C. Tan
{"title":"Private Investments, Public Goods: Regulating Markets for Sustainable Development","authors":"C. Tan","doi":"10.1007/s40804-021-00236-w","DOIUrl":"https://doi.org/10.1007/s40804-021-00236-w","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41259790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-24DOI: 10.1007/s40804-021-00228-w
Kian Navid
{"title":"How Many Single Rulebooks? The EU’s Patchwork Approach to Ensuring Regulatory Consistency in the Area of Investment Management","authors":"Kian Navid","doi":"10.1007/s40804-021-00228-w","DOIUrl":"https://doi.org/10.1007/s40804-021-00228-w","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42768160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-21DOI: 10.1007/s40804-021-00231-1
Lin Lin, Yan Hong
{"title":"Developing a Green Bonds Market: Lessons from China","authors":"Lin Lin, Yan Hong","doi":"10.1007/s40804-021-00231-1","DOIUrl":"https://doi.org/10.1007/s40804-021-00231-1","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44541768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-21DOI: 10.1007/s40804-021-00235-x
B. Sheehy
{"title":"Sustainability, Justice and Corporate Law: Redistributing Corporate Rights and Duties to Meet the Challenge of Sustainability","authors":"B. Sheehy","doi":"10.1007/s40804-021-00235-x","DOIUrl":"https://doi.org/10.1007/s40804-021-00235-x","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52964149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-17DOI: 10.1007/s40804-021-00230-2
I. Chiu, Lixiao Lin, David L. Rouch.
{"title":"Law and Regulation for Sustainable Finance","authors":"I. Chiu, Lixiao Lin, David L. Rouch.","doi":"10.1007/s40804-021-00230-2","DOIUrl":"https://doi.org/10.1007/s40804-021-00230-2","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52964055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Civil Liability of a Company Director in the Vicinity of Insolvency: The Lithuanian Approach","authors":"Virginijus Bitė, Vilija Mogenytė, Salvija Mulevičienė","doi":"10.1007/s40804-022-00240-8","DOIUrl":"https://doi.org/10.1007/s40804-022-00240-8","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46216068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-31DOI: 10.1007/s40804-021-00229-9
I. Chiu
{"title":"The EU Sustainable Finance Agenda: Developing Governance for Double Materiality in Sustainability Metrics","authors":"I. Chiu","doi":"10.1007/s40804-021-00229-9","DOIUrl":"https://doi.org/10.1007/s40804-021-00229-9","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48771626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-31DOI: 10.1007/s40804-021-00232-0
D. Katelouzou, Eva Micheler
{"title":"Investor Capitalism, Sustainable Investment and the Role of Tax Relief","authors":"D. Katelouzou, Eva Micheler","doi":"10.1007/s40804-021-00232-0","DOIUrl":"https://doi.org/10.1007/s40804-021-00232-0","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52964137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-24DOI: 10.1007/s40804-021-00233-z
A. Miglionico
{"title":"The Use of Technology in Corporate Management and Reporting of Climate-Related Risks","authors":"A. Miglionico","doi":"10.1007/s40804-021-00233-z","DOIUrl":"https://doi.org/10.1007/s40804-021-00233-z","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47772398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-24DOI: 10.1007/s40804-021-00237-9
Zetzsche, Dirk A., Anker-Sørensen, Linn
Analyzing the revised EU Sustainable Finance Strategy disclosed in two steps in April and July 2021, we identify as core issues of any sustainability-oriented financial regulation a lack of data on profitability of sustainable investments, a lack of broadly acknowledged theoretical insights (typically laid down in standard models) into the co-relation and causation of sustainability factors with financial data, and a lack of a consistent application of recently adopted rules and standards. The three factors together are now hindering a rational, calculated approach to allocating funds with a view to sustainability which we usually associate with ‘finance’. These deficiencies will be addressed once (1) the EU’s sustainability taxonomy is implemented by most issuers of financial products, (2) several years of taxonomy-based reporting by issuers and originators of financial products is made available, and (3) these data have been used for validating emerging new sustainable finance benchmarks and models for investment and risk management. Until that day (which we expect to be at least 5 years from now), relying on Roberta Romano’s famous adage, regulators seeking to further sustainability by legal means, effectively ‘regulate in the dark.’
In order to avoid undesirable and unforeseeable effects of regulation, we argue against any regulation addressing capital requirements, mandating sustainability risk modelling or the inclusion of sustainability factors in investment or remuneration policies. Adopting such rules in the current premature state risks that Europe will not be able to rely on the capital markets to finance the sustainability transformation as planned. Instead, regulators should focus on enhancing expertise on the side of intermediaries and supervisors alike. In particular, regulators should introduce smart regulation tools, such as sandboxes, innovation hubs, and waiver programmes benefiting early adopters of sustainable finance modelling/models, utilizing approaches developed in other fields of experimental financial regulation (in particular Fintech and RegTech).
{"title":"Regulating Sustainable Finance in the Dark","authors":"Zetzsche, Dirk A., Anker-Sørensen, Linn","doi":"10.1007/s40804-021-00237-9","DOIUrl":"https://doi.org/10.1007/s40804-021-00237-9","url":null,"abstract":"<p>Analyzing the revised EU Sustainable Finance Strategy disclosed in two steps in April and July 2021, we identify as core issues of any sustainability-oriented financial regulation a lack of data on profitability of sustainable investments, a lack of broadly acknowledged theoretical insights (typically laid down in standard models) into the co-relation and causation of sustainability factors with financial data, and a lack of a consistent application of recently adopted rules and standards. The three factors together are now hindering a rational, calculated approach to allocating funds with a view to sustainability which we usually associate with ‘finance’. These deficiencies will be addressed once (1) the EU’s sustainability taxonomy is implemented by most issuers of financial products, (2) several years of taxonomy-based reporting by issuers and originators of financial products is made available, and (3) these data have been used for validating emerging new sustainable finance benchmarks and models for investment and risk management. Until that day (which we expect to be at least 5 years from now), relying on Roberta Romano’s famous adage, regulators seeking to further sustainability by legal means, effectively ‘regulate in the dark.’</p><p>In order to avoid undesirable and unforeseeable effects of regulation, we argue against any regulation addressing capital requirements, mandating sustainability risk modelling or the inclusion of sustainability factors in investment or remuneration policies. Adopting such rules in the current premature state risks that Europe will not be able to rely on the capital markets to finance the sustainability transformation as planned. Instead, regulators should focus on enhancing expertise on the side of intermediaries and supervisors alike. In particular, regulators should introduce smart regulation tools, such as sandboxes, innovation hubs, and waiver programmes benefiting early adopters of sustainable finance modelling/models, utilizing approaches developed in other fields of experimental financial regulation (in particular Fintech and RegTech).</p>","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138528970","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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