{"title":"Liability for Climate Damage and Shipping","authors":"E. McGaughey","doi":"10.4324/9781003155195-13","DOIUrl":"https://doi.org/10.4324/9781003155195-13","url":null,"abstract":"How can the global shipping industry play its part in the fight to stop climate damage? Shipping accounts for around 90% of all international trade, and for 2.5% to 4% of all global greenhouse gas emissions, which damage the Earth’s climate. The shipping industry is also heavily concentrated. The top four European firms alone (Maersk, MSO, CMA and Hapag-Lloyd) hold a 52.4% market share, meaning they probably generate from 1% to 2% of global emissions. Total emissions will decline, since 40% of all shipping cargo is coal, oil and gas, and this will be eliminated as energy generation and land transport comes from wind, solar, hydro and electric battery storage. However, this will leave substantial emissions that damage the climate, property and life. In 2012, the International Maritime Organisation announced a non-binding target of a 50% emission cut by 2050, while the EU Shipping Pollution Regulation 2015/757 merely contains a monitoring, reporting and verification system for carbon dioxide, but not other emissions. This leads to the question of whether liability for climate damage may encourage more rapid transition, with the elimination of fossil fuel exhausts as fast as technologically possible. This article discusses the developing case law in tort on liability for climate damage, an implicit director’s duty of care, the challenges that such action faces in common law and civil law, and the reasons that these challenges can be overcome.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122092780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Legal Pluralism, Cultural Values, and Post-Disaster Housing Project in a Philippine Municipality","authors":"Vivencio O. Ballano","doi":"10.2139/ssrn.3721048","DOIUrl":"https://doi.org/10.2139/ssrn.3721048","url":null,"abstract":"This article argues that cultural values can act as dominant norms and subvert the state’s official law in the awarding of post-disaster shelters to Typhoon Ondoy (Tropical Storm Ketsana) victims in a housing project in the Philippines. Applying some tenets of legal pluralism and some qualitative data from a case study, this article aims to show how the key Filipino cultural values of “palakasan,” “sakop,” and “padrino system” acted as the key unofficial laws or informal norms in the government’s post-disaster housing project for Typhoon Ondoy victims, thereby sidestepping the official legal provisions on the awarding of housing units to disaster victims. Specifically, it describes how these cultural values undermined the implementation of the official law on the qualification of applicants and proper awarding of housing units to beneficiaries under the Philippine Disaster Risk Reduction Management Act of 2010 and the Urban Housing and Development Act of 1992 in the Southville 8 Housing Project (S8HP), a governmental post-disaster housing project in Rodriguez, Rizal. In a highly politicized environment with plurality of stakeholders and norms in S8HP, the official state regulations became colonized by some powerful groups’ dominant cultural values that acted as “unofficial laws” in the distribution of the housing units as shown by this study, resulting in the awarding of shelters to disqualified beneficiaries, forfeiting the intended effects of the state law. Ultimately, it argues that the law is not what the official state law says “it is’ but what powerful individuals and groups say “it is” in actual social practice. It debunks the belief of legal formalists who advocate legal positivism and centralism, claiming that the law can deliver what it promises under the “rule of law” principle.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125117215","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Should Corporations have a Purpose?","authors":"Jill E. Fisch, Steven Davidoff Solomon","doi":"10.2139/SSRN.3561164","DOIUrl":"https://doi.org/10.2139/SSRN.3561164","url":null,"abstract":"The hot topic in corporate governance is the debate over corporate purpose and, in particular, whether corporations should shift their purpose from the pursuit of shareholder wealth to pursuing a broader conception of stakeholder or societal value. We argue that this debate has overlooked the critical predicate questions of whether a corporation should have a purpose at all and, if so, why. \u0000 \u0000We address these questions by examining the historical, legal and theoretical justifications for corporate purpose. We find that none of the three provides a basis for requiring a corporation to articulate a particular purpose or for a given normative conception of what that purpose should be. We additionally challenge recent corporate commitments to stakeholder value as lacking both binding legal effect and operational significance. \u0000 \u0000We nonetheless argue that articulating a corporate purpose can be valuable, and we justify a specification of corporate purpose on instrumental grounds. Because a corporation consists of a variety of constituencies with differing interests and objectives, an articulated, measurable and enforceable corporate purpose enables those constituencies both to select those corporations with which they wish to identify and to navigate the terms of that association through contract or regulation. Our instrumental view of the corporation brings a new perspective to the purpose debate.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133376482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Real Option Approach to Sustainable Corporate Tax Behavior","authors":"A. Van de Vijver, D. Cassimon, P. Engelen","doi":"10.3390/su12135406","DOIUrl":"https://doi.org/10.3390/su12135406","url":null,"abstract":"Aggressive tax planning has become a sustainability problem, as governments have to cope with less tax revenue, which is crucial for investments in sustainable development goals. The OECD and the EU authorities have taken several initiatives against aggressive tax planning, such as the Action Plan against BEPS. However, these initiatives lack effectiveness, and aggressive tax planning is still omnipresent. We analyze the fight against aggressive corporate tax planning from a Real Option Theory perspective, in order to find an explanation for the difficult shift of companies’ aggressive tax planning strategies to more sustainable tax behavior. The Real Option Theory shows that, as long as the option to ‘delay’ the investment in sustainable tax behavior has too much value because the benefits of such investment are uncertain, companies will wait. Based on this new understanding, we suggest additional public policy interventions against aggressive tax planning. These interventions aim directly at reducing this real option value (of waiting).","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128594193","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sustainable Competition Policy","authors":"Maurits Dolmans","doi":"10.2139/ssrn.3608023","DOIUrl":"https://doi.org/10.2139/ssrn.3608023","url":null,"abstract":"After a general introduction on climate change concerns, this paper discusses market failures involving products and services with an environmental footprint including in particular negative externalities. It argues that a consumer welfare analysis under competition or antitrust policy should take account of these environmental externalities, in all all areas of competition policy, including merger control, and antitrust assessment of horizontal and vertical agreements under Article 101(3) TFEU. The paper concludes that we can no longer afford to turn a blind eye to competition that exploits externalities that hurt the environment and the climate. Nor can we ignore the coordination problems that hamper solutions. Antitrust should be a part of an integrated climate policy, and the social cost of carbon emissions should be taken into account when assessing an agreement or conduct’s impact on consumer welfare.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132560444","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Framing Duties of Responsible Credit Policies in EU Law","authors":"Noah Vardi","doi":"10.2139/ssrn.3654555","DOIUrl":"https://doi.org/10.2139/ssrn.3654555","url":null,"abstract":"Scope of this paper is to highlight the areas of private law in which policies aiming at the promotion of ‘responsible credit’ have been implemented, especially after the 2007-2008 financial crisis. Within the wider array of tools at the disposal of legislators for establishing these duties, the paper focuses on a few of the most meaningful preventive instruments (such as the duty of creditworthiness assessment and duties of disclosure). It then tentatively assesses the impact of some of these duties on contract law.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124405702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial Performance under Stress: The Case of the Norwegian Maritime Cluster","authors":"Viktoriia Koilo","doi":"10.21511/pmf.08(1).2019.05","DOIUrl":"https://doi.org/10.21511/pmf.08(1).2019.05","url":null,"abstract":"The present study investigates the Norwegian maritime industry in terms of its economic activity during the period 2001–2018. The purpose of the study is to determine the financial state and to conduct the cluster analysis of the companies which belong to the Blue Maritime Cluster of Møre and Romsdal County.The paper presents a structural analysis of key financial indicators of the maritime industry within four major segments: shipping companies, shipyards, ship equipment manufactures, and maritime design and service providers. The analysis sheds light on the impact of the 2015–2017 offshore crisis on the Norwegian maritime cluster activity, which makes up the essential components of the maritime industry.The author suggests using Harrington’s desirability function to measure the firms’ financial state of two main segments (shipping companies and shipyards) that belong to the Blue Maritime Cluster of the Norwegian North-Western coast, which remains the most important area in Norway for shipbuilding activities. The obtained results reveal that during the analyzed period (2001–2018), companies had a satisfactory level of financial sustainability (with the peak in 2002 for shipping firms and in 2011 for shipyards). Nevertheless, there were several fluctuations and the most significant troughs were fixed after 2014. Moreover, it was defined that government policy plays an important role in an increase in the productivity, competitiveness of the maritime industry and supports more environmentally friendly shipbuilding.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114819307","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Can Governments Ban Materials with Large Carbon Footprint? Legal and Administrative Assessment of Product Carbon Requirements","authors":"T. Gerres, M. Haussner, K. Neuhoff, A. Pirlot","doi":"10.2139/ssrn.3501408","DOIUrl":"https://doi.org/10.2139/ssrn.3501408","url":null,"abstract":"This paper explores whether governments can ban carbon-intensive materials through product carbon requirements. By setting near-zero emission limits for the production of materials to be sold within a jurisdiction, governments would accelerate the phase out of carbon-intensive production processes. Their announcement could alert basic materials producers, financing institutions, and other relevant stakeholders, thus incentivising them to prepare for this shift by dedicating their innovation efforts and investments to climatefriendly production processes and low-carbon materials. The paper analyses various product standards and technical regulations in the European context. The analysis of these standards and technical regulations offers an overview of the types of environmental requirements that the European Union has already adopted. Therefore, it provides a case study of the political, legal, and technical backgrounds for the development of product carbon requirements, both in the EU and beyond. Second, the paper presents an analysis of the provisions in WTO law that would apply to product carbon requirements, underlining the legal arguments in support of their adoption under international trade law.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122580609","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Why Social Responsible Corporations Should Take Tax Seriously","authors":"Hans Gribnau","doi":"10.2139/ssrn.3604256","DOIUrl":"https://doi.org/10.2139/ssrn.3604256","url":null,"abstract":"Tax systems biased to powerful and wealthy (corporate) citizens contributed to economic stagnation, increasing inequality of income and wealth, and erosion of social cohesion, democratic legitimacy and public trust. Why and to what extent requires the foundational nature of taxes corporations to see paying a fair share of taxes as one of their main social responsibilities? Corporations bear co-responsibility for a sustainable tax system. Paying taxes is a moral obligation to society. CSR corporations should abstain from minimalist, irresponsible tax behavior since they voluntarily accept ethical obligations that entail going beyond what is required by the law. This regards substantive and procedural (transparency) legal obligations.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128773604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Achieving Green Building in Qatar through Legal and Fiscal Tools","authors":"Aaron R. Harmon, J. Truby","doi":"10.5539/jsd.v12n5p96","DOIUrl":"https://doi.org/10.5539/jsd.v12n5p96","url":null,"abstract":"In the midst of both a multi-State blockade of Qatar and the urgency to complete major building projects in time to host the 2022 FIFA World Cup, the limits of Qatar’s resource sustainability have been tested. The State of Qatar is the world’s highest per capita consumer of water and emitter of CO2 emissions. Qatar is also at considerable risk of becoming an unlivable nation if the global temperature change targets of the Paris Agreement are breached. National law and policy seek to address this by promoting sustainability and focusing on reducing consumption, though such efforts are commonly overwhelmed by the enormity of the construction projects. \u0000 \u0000This article considers how the advancement of green building can provide multiple dividends in Qatar by enabling reduced resource consumption and producing less waste. LEED® certified “green” buildings consume between 10% and 25% less energy and 11% less water and emit 34% lower greenhouse gases than similar conventional buildings. The article analyses Qatar’s law and policy approaches and available options. It further examines comparative law and policy models in the UK to explore how compatible such measures would be in Qatar. It concludes with possible legal and policy options available, assessing how effective such measures may work if transplanted into and/or adapted by Qatar.","PeriodicalId":202713,"journal":{"name":"SRPN: Legal Issues (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125837353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}