Volume 2

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Final Reflections

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The essays in this symposium allow us to compare polices and practices in selected Asia-Pacific jurisdictions with respect to corporate ESG and especially climate change. Rapid regulatory changes have occurred just within the past few years. But so far such efforts do not seem to be having a significant impact on climate change problems.

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An Asian Solution for a Global Problem? Corporate Governance and the Environment in a Non-Anglo-American World

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Historically, when it comes to determining what counts as “good” corporate governance globally, the United Kingdom and United States have set the rules of the game. This has resulted in ill-fitting Anglo-American corporate governance solutions being transplanted to Asia with unforeseen consequences.

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Promoting Social Responsibility through Ratings: China’s Corporate Social Credit System

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In the Western world, the regulatory approach to corporate social responsibility is facilitating and market-based, and the most commonly seen regulatory measure is disclosure. However, in China, the regulatory approach is state-centric and top-down.

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CSR as CPR: The Political Logic of Corporate Social Responsibility in China

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CSR in China is in fact CPR. That is, “corporate social responsibility” is essentially “corporate political responsibility” driven by a political logic that establishes a relationship between business and the state rather than between business and society.

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Australia: Fast-Growing Awareness and Activism

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ESG-related shareholder proposals have become an established practice in Australia and company directors at recent annual shareholder meetings have faced a barrage of questions relating to carbon emissions reduction, which is a major political issue in Australia. There is also growing support for ESG-related shareholder proposals.

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The Role of Corporate Governance in Addressing Climate Change: The Case of India

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No longer is climate change merely within the domain of voluntary conduct on the part of corporations. It is a material financial risk that corporations encounter, thereby imposing duties on the boards of directors to recognize and address it.