지구기후변화와 기업의 환경공시책임
Corporate Environmental Disclosure Related Global Climate Change
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It is clear that adaptation to climate change will have major implications for the worldwide economy. The consequences of any sudden, severe events or dramatic shifts in world ecosystems could create economic upheaval, particularly in markets in which risk is concentrated. Macroeconomic surveys study on the hidden costs of climate change have forecast significant economic costs resulting from climate change. The Kyoto Protocol to the UN Framework Convention on Climate Change sets binding greenhouse gas (GHG) emission limits. The European Union Emission Trading Scheme (EU/ETS) has established the world's largest GHG emission trading system. Much of economy seems likely to be affected by a GHG emission regulatory regime. It is important for the SEC to move with deliberate speed to reassert its gatekeeper role for the market. Radical change will create confusion and could unleash a flood of defensive filings of immaterial and premature information. It is also important for the SEC to recognize that it must give climate change ongoing attention. The discussion about climate change will only continue to grow, and the policies of governmental and corporate actors are likely to follow suit. At the same time, while certain trends are undeniable, there is much that is yet to be known. Advocacy groups will use legal duties where they can, and will combine their legal strategies with political, economic, and public relations pressure. Corporate and governmental actors' positions are emerging in an increasingly complex manner. This Article attempts to set out the pertinent legal concepts and their application to the facts.
Abstract
It is clear that adaptation to climate change will have major implications for the worldwide economy. The consequences of any sudden, severe events or dramatic shifts in world ecosystems could create economic upheaval, particularly in markets in which risk is concentrated. Macroeconomic surveys study on the hidden costs of climate change have forecast significant economic costs resulting from climate change. The Kyoto Protocol to the UN Framework Convention on Climate Change sets binding greenhouse gas (GHG) emission limits. The European Union Emission Trading Scheme (EU/ETS) has established the world's largest GHG emission trading system. Much of economy seems likely to be affected by a GHG emission regulatory regime. It is important for the SEC to move with deliberate speed to reassert its gatekeeper role for the market. Radical change will create confusion and could unleash a flood of defensive filings of immaterial and premature information. It is also important for the SEC to recognize that it must give climate change ongoing attention. The discussion about climate change will only continue to grow, and the policies of governmental and corporate actors are likely to follow suit. At the same time, while certain trends are undeniable, there is much that is yet to be known. Advocacy groups will use legal duties where they can, and will combine their legal strategies with political, economic, and public relations pressure. Corporate and governmental actors' positions are emerging in an increasingly complex manner. This Article attempts to set out the pertinent legal concepts and their application to the facts.
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