A first-order concern regarding sustainable finance is that it may crowd out individual support for more effective, policy-driven approaches to address societal challenges. We test the validity of this concern in a pre-registered experiment in the context of a real referendum on a climate law...

This paper, Part One of a 2015-2016 Paper Series, examines the need for ESG data transparency, consistency, and reliability. It identifies (i) the three main drivers creating the rising global capital market systemic risk caused by unrecognized, under-reported, and under-valued ESG risks; (ii)...

We examine the effects of mandatory ESG disclosure around the world using a novel dataset. Mandatory ESG disclosure increases the availability and quality of ESG reporting, especially among firms with low ESG performance. Mandatory ESG reporting has in turn beneficial effects on firm’s...

In order to reach climate neutrality by 2050, the European Union is taking action in the form of extensive sustainability regulations with the aim to push the private sector towards sustainable economic activities. In this context, a new instrument to finance a company's sustainability...

Nearly a decade ago, the U.S. Securities and Exchange Commission (SEC) began a comprehensive effort to “modernize and simplify” the disclosure rules that apply to U.S. public companies. In that period, investor demand for the SEC to standardize how companies disclose climate-related risk and...

Today's most pressing constitutional question is posed by a global economic system whose expansive tendencies seem no longer controllable. The current financial/debt crisis has triggered diverse reactions in the political arena ranging from the reformist ordo‐liberal approach followed by...

The contribution of this paper is to explain how to achieve a universally prosperous environmentally sustainable global society. This objective is incompatible with traditional economic policies dependent on environmentally exploitive growth in the population and/or full employment to generate...

This chapter provides an overview of empirical developments and scholarly debates concerning global CSR standards. Although global CSR standards are by no means the totality of CSR, they are arguably its most prominent, visible and well-recognized manifestations. These standards include the UN...

My chapter addresses the question: to what extent did global CSR frameworks shape national-level business-led CSR organizations? I find that national CSR associations were already successfully consolidated in several countries in the 1970s and 1980s and were relatively autonomous from global CSR...

We are witnessing the formation of a new paradigm that will dominate the socio-economic policy of the foreseeable future. This could be seen in 2019, but in 2020 led to a sharp acceleration of transformation processes. With all the differences of individual countries and regions, one can see...