Disclosure Regulation and Sustainability: Legalisation and Governance Implications

In Beate Sjåfjell and Christopher M. Bruner (eds), Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability (Cambridge University Press, Forthcoming).

University of Oslo Faculty of Law Research Paper No. 2019-41

Posted: 8 May 2019

See all articles by Iris Chiu

Iris Chiu

University College London - Faculty of Laws

Date Written: May 6, 2019

Abstract

Companies’ sustainable and socially responsible footprint, especially multi-national corporations, is increasingly scrutinised by policy-makers, stakeholders and the media. However, regulatory policy to promote socially responsible and sustainable behaviour at companies remains at an emerging state as the minimally intrusive regulatory instrument of disclosure regulation seems to be the preferred policy. Disclosure regulation merely compels information to be released so that next steps can be taken by interested recipients, whether they be the market or stakeholders. This Chapter explores disclosure regulation introduced at the EU level transposed in the UK, as well as the UK’s own initiatives such as the modern slavery statement that large businesses have to publicly disclose in relation to their supply chains. It is argued that disclosure regulation does not necessarily foster deep self-reflection and fundamental changes in corporate behaviour, as corporations’ responses to compliance with disclosure regulation vary significantly.

Keywords: non-financial disclosure, corporate transparency, modern slavery statement, conflict minerals report, human rights due diligence

Suggested Citation

Chiu, Iris, Disclosure Regulation and Sustainability: Legalisation and Governance Implications (May 6, 2019). In Beate Sjåfjell and Christopher M. Bruner (eds), Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability (Cambridge University Press, Forthcoming). ; University of Oslo Faculty of Law Research Paper No. 2019-41. Available at SSRN: https://ssrn.com/abstract=3383521

Iris Chiu (Contact Author)

University College London - Faculty of Laws ( email )

Gower St
London WC1E OEG, WC1E 6BT
United Kingdom

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