The Global Goals of ESG (Environmental, Social and Governance)—Are Arbitral Institutions Doing Their Part (at Least, with Respect to the Environmental Pillar)?

30 Pages Posted: 1 Jun 2023

See all articles by Stephan Wilske

Stephan Wilske

Heidelberg University; Leibniz Universität Hannover; German University for Administrative Sciences Speyer

Annemie Heubach

University of Law (UK)

Date Written: May 31, 2023

Abstract

This paper deals with the possibilities and arguably the responsibility of arbitral institutions to contribute to the fulfillment of Environmental, Social and Governance (commonly abbreviated as “ESG”) goals. In doing so, this article will focus on the environmental pillar of ESG. Considering the increasing importance of climate change and the increase of individuals acknowledging and thereby limiting their adverse contribution to the environment, why should arbitral institutions not have ESG goals as well? With the growing importance of ESG, it is likely that the three pillars of ESG will be a factor increasingly considered when actors of arbitration decide which institution to use for their proceedings. With this in mind, these authors will aim to evaluate whether arbitral institutions are aware of the need to improve their role with regards to ESG, what arbitral institutions are doing currently, and what can be done in the future to contribute towards fulfilling ESG goals. While there may not be a single global solution, arbitral institutions can adopt several measures to limit their adverse contribution to ESG matters and thereby do more than what is currently being done.

Keywords: arbitral institutions, carbon footprint, climate change, environment, environmental impact, ESG, green pledge, green protocols

Suggested Citation

Wilske, Stephan and Heubach, Annemie, The Global Goals of ESG (Environmental, Social and Governance)—Are Arbitral Institutions Doing Their Part (at Least, with Respect to the Environmental Pillar)? (May 31, 2023). Contemporary Asia Arbitration Journal, Vol. 16, No. 1, pp. 1-30, May 2023, Available at SSRN: https://ssrn.com/abstract=4465800

Stephan Wilske (Contact Author)

Heidelberg University ( email )

Grabengasse 1
Heidelberg, 69117
Germany

Leibniz Universität Hannover ( email )

Welfengarten 1
D-30167 Hannover, 30167
Germany

German University for Administrative Sciences Speyer

Freiherr vom Stein Strasse 2
Freiherr vom Stein Strasse 2
Speyer, D-67346
Germany

Annemie Heubach

University of Law (UK)

United Kingdom

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