気候関連財務リスクとグリーンウォッシュに対する法的説明責任
Legal Accountability for Climate-Related Financial Risk and Greenwashing (原題)
Aida Ardini, Usman Manor
🤖 gxceed AI 要約
日本語
気候変動をシステミックな財務リスクと捉え、ESG開示義務の拡大に対し検証・監督・法的責任の仕組みが追いついていないギャップを指摘する。インドネシアのOJK規制とTKBIタクソノミーを比較法的手法で分析し、重要情報開示・独立保証・リスクベース監督・グリーンウォッシュ法的責任の4本柱からなる「気候財務責任フレームワーク」を提唱する。開示ベース規制から説明責任ベース規制への転換を促す。
English
This study argues that ESG disclosure expansion has outpaced verification, supervision, and legal accountability mechanisms, heightening greenwashing and investor-harm risks. Analyzing global climate-finance regulation and Indonesia's OJK framework and TKBI taxonomy, it proposes a Climate Financial Liability Framework built on four pillars: materiality-based disclosure, independent assurance, risk-based supervision, and legal liability for greenwashing—shifting governance from disclosure-based to accountability-based regulation.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
SSBJ基準・有報でのサステナビリティ開示が進む日本でも、開示と検証・監督・法的責任のギャップは共通課題。第三者保証の義務化やグリーンウォッシュ規制の議論に示唆を与える。
In the global GX context
As ISSB/CSRD and SEC climate rules expand globally, this paper highlights the accountability gap that disclosure-only regimes leave open. Its four-pillar framework offers a comparative model for jurisdictions—including emerging economies—seeking to align disclosure with assurance, supervision, and greenwashing liability.
👥 読者別の含意
🔬研究者:開示規制と法的説明責任の乖離を比較法・規制ガバナンス論で整理した枠組みは、ESG規制研究の分析軸として有用。
🏢実務担当者:第三者保証・検証体制の強化とグリーンウォッシュ責任リスクへの備えを検討する際の参照枠になる。
🏛政策担当者:開示義務に検証・監督・法的責任を組み合わせた規制設計の必要性を示し、新興国規制のモデルを提供する。
📄 Abstract（原文）
Climate change has become a systemic financial risk, prompting the incorporation of sustainability considerations into financial regulation. However, the rapid expansion of ESG disclosure requirements and sustainable finance has not been matched by equally robust mechanisms of legal accountability, thereby increasing the risks of greenwashing and investor harm. This study analyzes global developments in climate-related financial regulation, evaluates Indonesia's sustainable finance legal framework, and develops a model of legal accountability for greenwashing. Employing normative legal research with comparative-transnational and regulatory governance approaches, the study examines international standards and Indonesia's regulatory framework, particularly policies issued by the Financial Services Authority (OJK) and the Indonesian Sustainable Finance Taxonomy (TKBI). The findings reveal a persistent gap between sustainability disclosure obligations and mechanisms for verification, supervision, and legal accountability. To address this gap, the study develops the Climate Financial Liability Framework, which integrates four interconnected pillars: materiality-based disclosure, independent sustainability assurance, risk-based supervision, and legal liability for greenwashing. The framework reorients sustainable finance governance from disclosure-based regulation toward accountability-based regulation. The study concludes that strengthening Indonesia's sustainable finance regime requires clearer ESG verification standards, more effective climate-risk-based supervision, proportionate liability mechanisms, and closer alignment with international sustainability standards. The proposed framework offers a regulatory model for strengthening market integrity and investor protection in Indonesia and other emerging economies.
🔗 Provenance — このレコードを発見したソース
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