Law Commons^™

"Use And Improve" Is My Accountability Mantra, Despite 30 Years Of Eye-Opening Disappointments, Natalie Bridgeman Fields

Perspectives

This essay finds justification for championing the continued existence, functioning and evolution of Independent Accountability Mechanisms (IAMs). An inside assessment of the thirty-year functioning of IAMs reveals that inadequate power and independence are severely hampering IAM efforts to hold actors accountable for harm. Simultaneously, IAMs can’t make progress without the underlying financial institutions reforming their incentive structures to reward harm prevention and remedy. Despite decades of systemic failure to deliver accountability, when exceptions happen, they are worth it and can be spectacular. With an influx of new climate-related funding expected at the financial institutions, exceptions need to become the rule. …

An Increased Normalization Of Iams Faces Ground Realities: Lack Of Transparency Impedes Access To Iams, Hamid Sharif

Perspectives

The creation of the Inspection Panel at the World Bank has led to the emergence of a norm that international financial institutions (IFIs) must hold themselves accountable to project-affected people through independent accountability mechanisms (IAMs). AIIB as a 21^st century bank reflects this normalization of IAMs. As a new MDB, AIIB’s charter mandates creation of an oversight body that includes the independent accountability mechanism or the Project-affected People’s mechanism (PPM). The PPM is aligned with many features of IFI’s IAMs while incorporating some innovations.

The central question asked by civil society and board members across IFIs is why there …

Between Disruption And Legitimation Of Development: A Critical Perspective On The Inspection Panel And A Call For More Radical Thinking Within The Accountability Community, Dustin Schäfer

Perspectives

The essay explores the Inspection Panel’s (the Panel) conflicting role of providing accountability for negatively affected people while facing political limitations. The Panel has proven its potential to disrupt harmful development practices. However, by reproducing “dev-speak” it also continuously contributes to legitimizing the same assumptions of “how to do development”, and thus to the continuation of harmful development practices. This ambivalent effect is inherent to the Panel because of its politically inhibited and depoliticized (i.e. technocratic) environment. To overcome this long-lasting and structural condition will require critical examination of the concept of development and the role it plays in …

Are The Mdbs Accountable? Reflecting On The Independent Accountability Mechanisms Of The Multilateral Development Banks, Susan Park

Perspectives

The International Accountability Mechanisms of the Multilateral Development Banks provide important insights into how to hold intergovernmental organizations to account for their environmental and social impacts. This perspective identifies how the IAMs hold the Banks to account according to the six standard questions of accountability: who is accountable, to whom, for what are they accountable, and what are the standards, processes, and sanctions employed to demonstrate that the MDBs are accountable. This highlights what the IAMs can and cannot hold the MDBs to account for, and how this might shape further international grievance mechanisms for people seeking to defend their …

Nestlé V. Doe: A Death Knell To Corporate Human Rights Accountability?, Phillip Ayers

Seattle University Law Review

The Supreme Court in Nestlé v. Doe held that foreign plaintiffs who claimed to be victims of overseas tortious conduct by corporate defendants had no jurisdiction to sue in federal courts using the Alien Tort Statute. This Comment looks at the history of the Alien Tort Statute, from its inspiration, long dormancy, and recent reinvigoration beginning in the 1980s. The Comment then explores the background of Nestlé and its issues with child slavery in its cocoa supply chain. From there, the Comment analyzes the Nestlé v. Doe decision, and posits an alternative outcome. Finally, this Comment looks for a new …

Dynamic Disclosure: An Exposé On The Mythical Divide Between Voluntary And Mandatory Esg Disclosure, Lisa Fairfax

All Faculty Scholarship

In March 2022, for the first time in its history, the Securities and Exchange Commission (the “SEC”) proposed rules mandating disclosure related to climate change. The proposed rules are remarkable because heretofore many in the business community, including the SEC, vehemently resisted climate-related disclosure, based primarily on the argument that such disclosure is not material to investors. This resistance is exemplified by the current lack of any SEC disclosure mandates for climate change. The proposed rules have sparked considerable pushback including allegations that the rules violate the First Amendment, would be too costly, and focus on “social” or “political” issues …

Board Committee Charters And Esg Accountability, Lisa Fairfax

All Faculty Scholarship

We are currently witnessing a sharp increase in corporate attention on environmental, sustainability, and governance (“ESG”). The steep rise in corporate focus on ESG has prompted considerable criticism, not only from those concerned about how best to ensure that corporations are held accountable for their ESG commitments, but also from those who strenuously insist that corporate commitment to ESG is merely rhetorical or otherwise merely a passing fad. In an effort to shed light on the concerns around ESG accountability, and gain perspective about the potential illusory or short-term nature of ESG, I conducted my own survey of the committee …

Beyond Algorithms: Toward A Normative Theory Of Automated Regulation, Felix Mormann

Faculty Scholarship

The proliferation of artificial intelligence in our daily lives has spawned a burgeoning literature on the dawn of dehumanized, algorithmic governance. Remarkably, the scholarly discourse overwhelmingly fails to acknowledge that automated, non-human governance has long been a reality. For more than a century, policymakers have relied on regulations that automatically adjust to changing circumstances, without the need for human intervention. This article surveys the track record of self-adjusting governance mechanisms to propose a normative theory of automated regulation.

Effective policymaking frequently requires anticipation of future developments, from technology innovation to geopolitical change. Self-adjusting regulation offers an insurance policy against the …

Separations Of Wealth: Inequality And The Erosion Of Checks And Balances, Kate Andrias

Articles

American government is dysfunctional: Gridlock, filibusters, and expanding presidential power, everyone seems to agree, threaten our basic system of constitutional governance. Who, or what, is to blame? In the standard account, the fault lies with the increasing polarization of our political parties. That standard story, however, ignores an important culprit: Concentrated wealth and its organization to achieve political ends. The only way to understand our current constitutional predicament—and to rectify it—is to pay more attention to the role that organized wealth plays in our system of checks and balances. This Article shows that the increasing concentration of wealth and political …

The Role Of The State, Multinational Oil Companies, International Law & The International Community: Intersection Of Human Rights & Environmental Degradation Climate Change In The 21st Century Caused By Traditional Extractive Practices, The Amazon Rainforest, Indigenous People And Universal Jurisdiction To Resolve The Accountability Issue, Marcela Cabrera Luna

Master's Theses

Local, national and international conventions that protect indigenous sovereignty and their territories, where many of the resources are extracted from by multinational corporations (MNCs) particularly oil, the number one commodity of the world and cause of climate change, continue to be jeopardized because of the lack of a clear international legal framework that can protect them and potentially hold multinationals accountable for their actions. These practices are causing not only environmental issues to the indigenous and surrounding communities, but climate change is in fact, the real human rights issue of the 21^st century and it affects everyone. By using …

The Global Architecture Of Financial Regulatory Taxes, Carlo Garbarino, Giulio Allevato

Michigan Journal of International Law

This Article endeavors to broaden the analysis of available policy tools to address the problems created by financial crises and discusses how, in addition to direct regulation, certain tax measures having a regulatory nature may operate to address the so-called “negative externalities” often associated with those crises. There is a negative externality when an economic agent making a decision does not pay the full cost of the decision’s consequences. In such cases, the cost to society as a whole is greater than the cost borne by the individuals creating the economic impact. In practice, negative externalities result in market inefficiencies …

The Mess At Morgan: Risk, Incentives And Shareholder Empowerment, Jill E. Fisch

All Faculty Scholarship

The financial crisis of 2008 focused increasing attention on corporate America and, in particular, the risk-taking behavior of large financial institutions. A growing appreciation of the “public” nature of the corporation resulted in a substantial number of high profile enforcement actions. In addition, demands for greater accountability led policymakers to attempt to harness the corporation’s internal decision-making structure, in the name of improved corporate governance, to further the interest of non-shareholder stakeholders. Dodd-Frank’s advisory vote on executive compensation is an example.

This essay argues that the effort to employ shareholders as agents of public values and, thereby, to inculcate corporate …

The Key Elements For Developing A Securities Market To Drive Economic Growth: A Roadmap For Emerging Markets, Ziven Scott Birdwell

Georgia Journal of International & Comparative Law

No abstract provided.

The Implementation Gap: What Causes Laws To Succeed Or Fail?, David Barnhizer

David Barnhizer

It is important to go behind the “paper systems” many countries and private sector actors have created to manufacture the appearance of commitments to responsible economic activity, environmental protection and social justice. This produces the need to penetrate the veils that mask governments’ “apparent compliance” with the terms of sustainable development, and to be honest about the inability of voluntary codes of practice to shape the behavior of business and government. Implementation requires effective systems to carry out the law and policy mandates. Laws and policies are often poorly designed or deliberately sabotaged in their creation, but in many instances …

The Reality Of Business And Governmental Decision-Making In The Context Of Sustainable Development, David Barnhizer

David Barnhizer

It is absolutely rational for economic actors and decision-makers to seek to operate in their own self-interest. The challenge for anyone who wishes to influence or alter the process lies in knowing where that self-interest lies and changing the nature of the self-interest if that is required or possible. That is a far greater challenge than many understand because regardless of what we might like to do in our personal lives, it is the institution within which we work that dictates how we think and what we value in our service to that institution. Given the short time frame within …

New “Architecture” And Revitalizing The Un Global Compact, David Barnhizer

David Barnhizer

Some advocates of sustainable development possess an almost theological faith in what I refer to as “rhetorical” sustainable development as the path to providing for the sound future of human civilizations and critical ecological systems. Simply put, if we try to think “too big” and “bite off too much” then the system we are trying to control or influence consumes us and our resources and we fail miserably. There is real and predictable danger in grandeur. This means we need to think about achieving sustainability in very specific and concrete terms applied to clear goals and an honest understanding of …

Corporations As Ships: An Inquiry Into Personal Accountability And Institutional Legitimacy , Art Wolfe

Pepperdine Law Review

No abstract provided.

Slides: Adapting To Climate Change: Lessons Learnt From The Australian Water Experience, Will Fargher

Conversation with Water Management Reps from Colorado and Australia: "Adapting to Climate Change: Lessons Learned from Australia" (February 14)

Presenter: Will Fargher, National Water Commission, Australian Government

18 slides [4 have titles only and are missing images]

Human Freedom And Two Friedmen: Musings On The Implications Of Globalization For The Effective Regulation Of Corporate Behavior, Leo E. Strine Jr.

All Faculty Scholarship

In this essay, which was delivered as the Torys Lecture at the University of Toronto, Vice Chancellor Strine considers the implications of globalization for the effective regulation of corporate behavior affecting interests other than those of stockholders against the backdrop of the West’s political and economic experience. He concludes that consistent with prior experience, the globalization of corporate markets will require a corresponding expansion of the polity to protect those aspects of human freedom that are affected in important ways by corporate behavior. As a practical matter, this means that if the U.S. and other Western nations wish to limit …

Globalization And Corporate Social Responsibility: Challenges For The Academy, Future Lawyers, And Corporate Law, Faith Stevelman

NYLS Law Review

No abstract provided.

Consensus Groups And Grassroots Democracy: Maybe Those Who Say It Cannot Be Done Should Get Out Of The Way Of Those Doing It, Mary Margaret Chapman

Challenging Federal Ownership and Management: Public Lands and Public Benefits (October 11-13)

10 pages.

Contains 2 pages of references.

Agenda: Western Water: Expanding Uses/Finite Supplies, University Of Colorado Boulder. Natural Resources Law Center

Western Water: Expanding Uses/Finite Supplies (Summer Conference, June 2-4)

Conference organizers and/or faculty included University of Colorado School of Law professors James N. Corbridge, Jr., Lawrence J. MacDonnell and David H. Getches.

This conference featured luncheon talks by Colorado Governor Richard D. Lamm and Undersecretary of the Department of the Interior Ann McLaughlin. The conference attracted 115 registrants from 19 states plus the District of Columbia.