Antitrust and Trade Regulation Commons^™

Does Climate Disclosure Work To Reduce Greenhouse Gas Emissions? Emerging Evidence Suggests Cautious Optimism, Cynthia A. Williams

Seattle University Law Review

Significant regulatory resources have been spent developing global, voluntary climate and sustainability disclosure standards, such as the TCFD, TNRD, and ISSB’s Sustainability and Climate Disclosure standards, or domestically required disclosures, such as in the EU and in the U.S. Thus, it is important to evaluate whether this disclosure, particularly voluntary, qualitative disclosure, will have the power to shift the allocation of capital, will have a significant effect on the management of climate risk within firms, and ultimately will reduce climate change risk and biodiversity loss.

In this Article, several interrelated questions will be discussed. First, what does the empirical evidence …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Corporate Scenarios: Drawing Lessons From History, Madison Condon

Seattle University Law Review

As corporations are increasingly pressed to reveal information about their exposure to climate-related risks, they are often asked to undertake and disclose the outcome of “scenario analysis.” In this exercise, corporations, including financial institutions, examine how their business would fare under different pathways the future may take. One oft-used scenario, for example, is the International Energy Agency’s “Net-Zero by 2050: A Roadmap for the Energy Sector.” This Essay presents a history of the use of scenarios as a corporate planning tool, particularly in the oil industry, arguing that it is key for understanding our present moment and the role of …

Dark Accounting Matter, Colleen Honigsberg

Seattle University Law Review

Physicists calculate that approximately 85% of the matter in the universe is composed of “dark matter” that “does not absorb, reflect, or emit electromagnetic radiation and is therefore difficult to detect.” The S&P 500 currently trades at a price-to-book value of 4.2, suggesting that book value accounts for less than 20% of the S&P 500’s market value. The remaining 80% appears nowhere in these firms’ balance sheets—it is invisible to contemporary accounting techniques and constitutes “dark accounting matter.”

Some “dark accounting matter” is composed of factors commonly described as components of “ESG.” Human capital, for example, is an intangible asset …

Understanding The Big Three’S Wavering Support Of Environmental And Social Shareholder Proposals, Jeff Schwartz, Jefferson Jensen

Seattle University Law Review

Because of their substantial equity portfolios, BlackRock, Vanguard, and State Street (the Big 3) are central players in corporate governance. It is, therefore, critical to understand how they vote. One puzzle is that their support for shareholder proposals on environmental and social matters appears to waiver. In 2020, for instance, BlackRock supported 11.1% of environmental proposals at S&P 500 firms. In 2021, it seemingly reversed course, supporting 55.2%. It then flipped again, supporting 32.1% in 2022. Such statistics suggest that the Big 3 are constantly changing their views on these topics. This Article seeks to better understand whether this is …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Menguak Status Dan Legalitas Rupiah Digital Sebagai Legal Tender (Perspektif Teori Keadilan Bermartabat), Sylvia Setjoatmadja, Jeferson Kameo

Jurnal Hukum & Pembangunan

Digital technology and modern telecommunications have been and will continue to be key factors in the emergence of various innovative products. One such innovative product is digital currency, specifically Central Bank Digital Currency (CBDC). In Indonesia, advancements in digital technology and telecommunications have encouraged the government to issue a CBDC, which will be named Digital Rupiah. The initiative to issue Digital Rupiah also responds to global trends and the public's need for secure, efficient, and sustainable payment instruments.

However, the plan to issue Digital Rupiah is not without challenges, particularly regarding the clarity of its legal status as a lawful …

Digital Constitutionalism: Resistensi Kebebasan Berpendapat Di Indonesia Dalam Hegemoni Algoritma Ruang Digital, Yuniar Prehatini, Linda Noviana Mita Devi

Jurnal Hukum & Pembangunan

Era digital membawa transformasi dalam segala aspek kehidupan. Perkembangan teknologi menghadirkan perkembangan zaman pada sisi positif dan negatif dimana penggunaan ruang digital yang dapat diakses tanpa batasan wilayah. Kebebasan diartikan melalui teknologi dengan adanya akses ruang digital memberikan kemudahan akses kepada siapa pun. Melalui algoritma digital, segala hal baik dari aspek budaya, politik, maupun ekonomi dapat diketahui sehingga hal ini juga dapat menimbulkan keresahan apabila tidak diatur batasan akan keberadaannya. Penelitian ini menggunakan penelitian normatif yang fokus pada analisis terhadap norma, asas, doktrin, dan teori hukum yang berkaitan dengan perlindungan hak asasi manusia di ruang digital. Hasil penulisan ini menunjukkan …

Pengakuan Hak Masyarakat Adat Dalam Hukum Pengelolaan Sumber Daya Alam: Studi Perbandingan Indonesia–Australia, Farid Al Hadana, Sukarman Sukarman, Farhan Margono, Hamzah Hamzah

Jurnal Hukum & Pembangunan

Meskipun terdapat pengakuan konstitusional di Indonesia dan Australia, hak-hak masyarakat adat dalam tata kelola sumber daya alam masih lemah perlindungannya, terutama karena kerangka kerja Indonesia yang terfragmentasi dan tersentralisasi gagal mewujudkan keadilan lingkungan. Makalah ini membandingkan rezim hukum Indonesia dan Australia terkait tata kelola lahan dan sumber daya masyarakat adat untuk mengidentifikasi bagaimana pengakuan dapat diubah menjadi hak yang dapat ditegakkan dan untuk merumuskan model reformasi yang berorientasi pada keadilan bagi Indonesia. Dengan menggunakan analisis hukum komparatif kualitatif, makalah ini menggabungkan observasi doktrinal terhadap yurisprudensi konstitusional, peraturan-undangan, dan yurisprudensi dengan pemeriksaan dokumen kebijakan dan konflik ilustratif yang melibatkan wilayah masyarakat …

Ius Constituendum Pengaturan Ambang Batas Parlemen Berdasarkan Putusan Mahkamah Konstitusi Nomor 116/Puu-Xxi/2023, Arsyianti Mega Nanda, Erland Ferdinansyah

Jurnal Hukum & Pembangunan

Pemilu merupakan wujud pelaksanaan kedaulatan rakyat di Indonesia yang menganut sistem presidensial dan multipartai. Namun, banyaknya partai memicu instabilitas koalisi dan melemahkan dukungan terhadap presiden. Untuk mengatasi hal ini diterapkan ambang batas parlemen (Parliamentary Threshold). Putusan MK No. 116/PUU-XXI/2023 menyatakan ambang batas 4% konstitusional untuk Pemilu 2024, namun inkonstitusional untuk Pemilu selanjutnya. Putusan ini menegaskan perlunya ambang batas baru yang tidak hanya menyederhanakan sistem kepartaian, tetapi juga menjamin keadilan suara dan proporsionalitas sesuai prinsip kedaulatan rakyat. Penelitian ini menggunakan metode yuridis normatif dengan pendekatan kualitatif-deskriptif. Pengumpulan data dilakukan melalui studi kepustakaan. Kerangka teori yang digunakan dalam penelitian ini meliputi teori …

Analisis Demokrasi Pada Pengisian Jabatan Gubernur Dan Wakil Gubernur Di Daerah Istimewa Yogyakarta, Akbar Ardya Putra, Rosita Candrakirana, Andina Elok Puri Maharani

Jurnal Hukum & Pembangunan

The aim of this research is to analyze the implementation of democracy in the process of filling the governor and deputy governor positions in the Yogyakarta Special Region. This is regulated in the Special Areas Act No. 13/2012. The Act stipulates that the candidates for governor can only be the descendants of the Yogyakarta Sultanate and the candidates for deputy governor can be the descendants of the Duchy of Pakualaman. Following these provisions, there are differences between the special region of Yogyakarta and other regions using general elections to fill regional heads. The results of the study show that the …

Analisis Klausula Choice Of Forum Dalam Kontrak Standar E-Commerce Di Indonesia: Kajian Berdasarkan Perspektif Perlindungan Konsumen, Sarping Saputra

Jurnal Hukum & Pembangunan

This research discusses choice of forum clauses in standard contracts on the five largest e-commerce platforms in Indonesia, namely Shopee, Tokopedia, Lazada, Bukalapak, and Blibli. The clause stipulates the mechanism and location of dispute resolution that automatically binds consumers when using the platform. In practice, these clauses tend to burden consumers, especially regarding access to fair dispute resolution. This research focuses on the compatibility of the choice of forum clause with the principles of consumer protection regulated in the Consumer Protection Law (UUPK). The results reveal that most e-commerce platforms use exclusive forms of choice of forum clauses, such as …

Dekolonisasi Hukum Perdata Indonesia: Kritik Terhadap Warisan Kolonial Dan Implikasinya Terhadap Pembangunan Hukum Berkeadilan, R. Mustar Lofi

Jurnal Hukum & Pembangunan

Hukum perdata Indonesia hingga kini masih berada di bawah bayang-bayang warisan kolonial, terutama melalui keberlakuan Burgerlijk Wetboek (BW) 1848 yang diwarisi dari Belanda. Meskipun berbagai peraturan baru telah diundangkan, fondasi utama hukum perdata belum sepenuhnya lepas dari struktur, nilai, dan cara pandang kolonial. Artikel ini mengkaji secara kritis bagaimana dominasi hukum kolonial masih berpengaruh dalam pembentukan dan penegakan hukum perdata di Indonesia, serta mengapa dekolonisasi menjadi penting dalam pembangunan sistem hukum yang berkeadilan. Dengan menggunakan pendekatan yuridis-normatif dan analisis interdisipliner dari perspektif sosiologis hukum dan filsafat hukum, tulisan ini menelusuri bagaimana warisan hukum kolonial menciptakan ketimpangan, terutama dalam hal akses …

Ratio Legis Penambahan Modal Negara Kepada Lembaga Pembiayaan Ekspor Indonesia, Syarif Hidayat

Jurnal Hukum & Pembangunan

Since its establishment under Law Number 2 of 2009 concerning The Indonesian Export Financing Institution (LPEI), the Indonesian Export Financing Institution has gained additional capital participation nine times between 2010 and 2021 by the passage of government regulations. The rules for extra capital in the legislation on its establishment only take the form of regulations in the event that the capital of the Indonesian Export Financing Institution is decreased by a particular amount, but the additional capital that has been carried out thus far is not meant to replace the capital deficiency. As a result, this research was undertaken to …

Pengungkapan Model Mediasi Kepada Pihak Bersengketa Oleh Mediator Sebagai Pelaksanaan Prinsip Informed Consent (Kajian Mediasi Sektor Perbankan), Tri Harnowo, Fahmi Shahab

Jurnal Hukum & Pembangunan

The mediation techniques commonly used by mediators are facilitative, evaluative, or hybrid models. The choice of mediation model generally depends on the complexity of the dispute, the nature of the relationship, and the expectations for further cooperation. This research examines the application and disclosure of mediation models in the banking sector. The methodology used is normative, analyzing regulations related to the application and disclosure of mediation models in the banking sector. Data collection was obtained from primary legal materials in the form of legislation, secondary legal materials such as professional codes of ethics, books, articles, and scientific journals, and tertiary …

Urgensi Memahami Arbitrase Bagi Pemangku Kepentingan Dunia Bisnis Di Indonesia, Bambang Hariyanto, Saptarini Saptarini

Jurnal Hukum & Pembangunan

Abstract The resolution of business disputes through arbitration forums is increasingly favored by the majority of business actors in Indonesia. One indication of this is the growing number of business actors, both from the private sector and state-owned enterprises, who include arbitration agreements as dispute clauses in their contracts. Arbitration has even attracted the interest of MSMEs (Micro, Small, and Medium Enterprises) as a forum to resolve their business disputes. This phenomenon ultimately highlighted the urgency for stakeholders in the business world to understand arbitration. Using normative juridical methods, this article contained a series of analyses of primary materials, including …

Dol Fiduciary Rule 3.0 Strikeout, Base Knock, Or Home Run?, Antolin Reiber

DePaul Business & Commercial Law Journal

No abstract provided.

Money Is Morphing - Cryptocurrency Can Morph To Be An Environmentally And Financially Sustainable Alternative To Traditional Banking, Clovia Hamilton

DePaul Business & Commercial Law Journal

No abstract provided.

Survey Evidence In Trademark Actions, Ioana Vasiu And Lucian Vasiu

DePaul Business & Commercial Law Journal

No abstract provided.

Corporate Governance And Compelled Speech: Do State-Imposed Board Diversity Mandates Violate Free Speech?, Salar Ghahramani

DePaul Business & Commercial Law Journal

No abstract provided.

The Real Persons Are The Corporations We Made Along The Way, Leonard Brahin

DePaul Business & Commercial Law Journal

No abstract provided.

Front Matter

DePaul Business & Commercial Law Journal

No abstract provided.

A History Of Corporate Law Federalism In The Twentieth Century, William W. Bratton

Seattle University Law Review

This Article describes the emergence of corporate law federalism across a long twentieth century. The period begins with New Jersey’s successful initiation of charter competition in 1888 and ends with the enactment of the Sarbanes-Oxley Act in 2002. The federalism in question describes the interrelation of state and federal regulation of corporate internal affairs. This Article takes a positive approach, pursuing no normative bottom line. It makes six observations: (1) the federalism describes a division of subject matter, with internal affairs regulated by the states and securities issuance and trading regulated by the federal government; (2) the federalism is an …

Reconciling Disjunct Cryptocurrency Securities Enforcement With Purchaser Expectations, Jacob E. Simmons

Seattle University Law Review

The Southern District of New York’s July 2023 decision in SEC v. Ripple Labs, Inc. has been touted as a monumental win for cryptocurrency purchasers and related businesses. The Ripple court held that, except institutional investor transactions, all sales of Ripple’s XRP token were not investment contracts, a class of security subject to federal securities law. The court’s ruling meant that Ripple could not be held liable for the unregistered trading of XRP beyond its sales to institutional investors. Ripple adds new insights to a pervasive policymaking dilemma addressed in this Note: is the Securities and Exchange Commission’s (SEC) regulatory …

Stakeholder Capitalism’S Greatest Challenge: Reshaping A Public Consensus To Govern A Global Economy, Leo E. Strine Jr., Michael Klain

Seattle University Law Review

The Berle XIV: Developing a 21st Century Corporate Governance Model Conference asks whether there is a viable 21st Century Stakeholder Governance model. In our conference keynote article, we argue that to answer that question yes requires restoring—to use Berle’s term—a “public consensus” throughout the global economy in favor of the balanced model of New Deal capitalism, within which corporations could operate in a way good for all their stakeholders and society, that Berle himself supported.

The world now faces problems caused in large part by the enormous international power of corporations and the institutional investors who dominate their governance. These …

Stakeholder Governance On The Ground (And In The Sky), Stephen Johnson, Frank Partnoy

Seattle University Law Review

Professor Frank Partnoy: This is a marvelous gathering, and it is all due to Chuck O’Kelley and the special gentleness, openness, and creativity that he brings to this symposium. For more than a decade, he has been open to new and creative ways to discuss important issues surrounding business law and Adolf Berle’s legacy. We also are grateful to Dorothy Lund for co-organizing this gathering.

In introducing Stephen Johnson, I am reminded of a previous Berle, where Chuck allowed me some time to present the initial thoughts that led to my book, WAIT: The Art and Science of Delay. Part …

Foreseeability And Duty In Washington Negligence Law: Leaving The Road Less Traveled By, Leo Linder

Seattle University Law Review

Washington negligence law is a confusing labyrinth of foreseeability that not even Ariadne’s string could guide plaintiffs out of. Foreseeability is implicated in four distinct analyses, several of which overlap considerably. Doctrines that were once questions of law are now questions of fact, and vice versa. Something needs to change.

Washington has taken the novel approach of bifurcating the duty element into two parts—duty’s mere existence, which is a question of law for the court to determine; and duty’s scope, which is a question of fact handed off to the jury to determine. Foreseeability impacts both of these assessments, but …

Henderson And The Objective Observer Standard: The Future Of Race-Conscious Standards Post-Students For Fair Admissions, Gabriela Dionisio

Seattle University Law Review

On June 29, 2023, the Supreme Court of the United States decided Students for Fair Admissions v. President & Fellows of Harvard College, which struck down race-conscious admissions policies. Within just a year after its ruling, Students for Fair Admissions has already had a sweeping impact, reaching beyond higher education. Although the Supreme Court did not indicate whether Students for Fair Admissions applies to sectors beyond higher education, law firms, and other employers have already modified their diversity policies and initiatives, erasing race and company diversity considerations. Given those dramatic changes, there is growing fear that Students for Fair Admissions …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents