Corporate Purpose, Sustainability and Law
企業目的、サステナビリティ、そして法 (AI 翻訳)
Steen Thomsen
🤖 gxceed AI 要約
日本語
本論文は、企業目的とCSR/ESGの法的含意を議論する。強制的な企業目的声明は、コミットメントや執行がなければ効果が乏しく、公的執行は官僚的・政治的利害に捕捉されるリスクがある。一方、私的執行（目的志向の所有、第三者認証、代替的企業形態、目的違反訴訟など）は企業のサステナビリティを促進し得る。報告・ガバナンス要件は過剰であり、重要性基準の厳格化を通じて現実的で効果的なものにする必要がある。
English
This paper discusses the legal implications of corporate purpose and CSR/ESG. It argues that mandatory corporate purpose statements without commitment or enforcement are ineffective and may be captured by bureaucratic interests. Private enforcement mechanisms such as purposeful ownership, private verification, and alternative corporate forms can support sustainability. It criticizes excessive reporting and governance requirements, advocating for a focus on material issues and elevated materiality standards to make corporate sustainability more realistic and impactful.
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
日本ではSSBJ基準や有価証券報告書におけるサステナビリティ開示が進む中、本論文は報告要件の過剰さと重要性基準の厳格化の必要性を指摘する。日本の企業実務においても、私的執行メカニズム（目的志向の株主、第三者認証など）の活用可能性を示唆している。
In the global GX context
Amid global convergence on sustainability disclosure (ISSB, CSRD, SEC), this paper offers a critical perspective on the risk of excessive reporting and the importance of materiality. It highlights the role of private enforcement—such as purposeful ownership and verification schemes—in complementing regulatory frameworks, which is relevant for ongoing debates on disclosure infrastructure and transition finance.
👥 読者別の含意
🔬研究者:This paper provides a legal-theoretical framework analyzing the interaction between corporate purpose, private enforcement, and sustainability regulation.
🏢実務担当者:Corporate sustainability teams can consider leveraging private verification schemes and purposeful ownership structures to enhance credibility beyond mandatory reporting.
🏛政策担当者:Policymakers should note the critique of excessive reporting and consider scaling back requirements while strengthening materiality standards and enabling private enforcement mechanisms.
📄 Abstract（原文）
219Abstract I discuss the legal implications of corporate purpose and CSR/ESG based on a seminal overview by Binder, Hopt, and Kuntz (2024). Mandatory corporate purpose statements without commitment or enforcement are unlikely to have much of an effect and may be captured by bureaucratic or political interests if they are publicly enforced. Hower corporate purpose can be supported by private enforcement including purposeful ownership, private verification schemes, alternative corporate forms, or lawsuits for breach of purpose, and the law can do a great deal to facilitate or deter such private ordering. Corporate sustainability is well justified in an age of government failure, but reporting and governance requirements have become excessive and are now being scaled back. Law can do a great deal to make it more realistic and impactful by focusing on the essentials using an elevated materiality standard. Corporate purpose can further help to focus corporate practices for social responsibility and environmental sustainability on relevant (material) issues, for example in non-financial reporting, financial risk management, and supply chain due diligence.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1515/ecfr-2026-0008first seen 2026-05-15 18:36:39 · last seen 2026-06-15 05:27:35
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