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ESG-Compliance and Corporate Rulebreaking
Fri, September 5, 8:00 to 9:15am, Deree | Auditorium, Center for the Arts AuditoriumSession Submission Type: Roundtable
Abstract
The incorporation of environmental, social, and governance (ESG) considerations into the institutional framework of the Global North, manifested through programs, legislation, and guidelines, signifies a conspicuous accomplishment of “pro-social” business-oriented industrial policies enacted by states and international non-governmental organizations (NGOs). In the context of world society theory, the present phase of dissemination dynamics may be characterized as transitioning from imitation to normative pressure and state coercion. It is evident that the spread of a "world cultural model", which is supposed to better protect human rights, has reached a temporary climax with the introduction of new legal regulations in Germany and the EU. ESG policies, laws, and regulations stand out today at a time of a global "illiberal turn" by governments around the world, accompanied by a decline in the protection of human rights. And that's why ESG policies and regulations have become highly controversial against the backdrop of the political rise of an anti-ESG movement, particularly in the US. The remarkable triumph of ESG policies has been eclipsed by the proliferation of countermeasures that have gained significant momentum over the past decade, particularly since the return of Donald Trump to the government in 2025. Hence, in this roundtable, we will discuss EU legislation, such as the CS3D Due Diligence Directive and Germany’s Supply Chain Due Diligence Act, which are being reviewed to reduce corporate reporting obligations as part of broader deregulation efforts. In the UK, laws like the Modern Slavery Act also play a role. Our goal is to examine how ESG policies are implemented or challenged in companies across the UK, Germany, and the Netherlands and to assess the extent to which businesses are adopting new ESG approaches, considering industry-specific institutional settings.