Intra-Group ESG Dynamics
Challenges in Dutch multinational parent-subsidiary relationships
Samenvatting
This study analyzes how a Dutch parent or subsidiary entity, which holds or is part of an international and economically active group, addresses (potential) negative effects of its business activities via ESG. The research focuses on the actual implementation and execution of ESG policies. The methods used for this analysis are diverse and include interdisciplinary legal-economic research and interviews.
The conclusions of this report are threefold. First, it is shown that legal and operational business structures are often rather distinct concepts. Second, there exists a great variety between organizations in terms of the approach chosen for the implementation and execution of ESG policies. Third, and perhaps most fundamentally, even organizations that strive for centralized decision-making may, due to a wide variety of factors, in practice not always be able to have a unified ESG strategy. These observations carry significant implications for the ESG policy-making debate and also form a basis for future research.
The ICFG (International Center for Financial law & Governance) is the multidisciplinary research centre of the Erasmus School of Law in the field of financial law and governance. The ICFG's ambition is to bring together national and international academics, professionals and students in order to foster a high-quality exchange of ideas in relation to financial businesses and other organizations active in the financial markets. The ICFG series contains publications that reflect the research activities of the ICFG and its researchers.
Trefwoorden
esg duurzaamheid ondernemingsrecht multinationale ondernemingen compliance governance implementatie parent-subsidiary relaties nederlands recht groepsstructuren due diligence internationale bedrijven internationaal recht supply chain nederland maatschappelijke verantwoordelijkheid rapportageverplichtingen risk management milieu corporate governance besluitvorming strategie risicomanagement maatschappelijk verantwoord ondernemen zorgplicht beleid externalities eu wetgeving organisatiekunde organisatieverandering
Trefwoorden
Specificaties
Inhoudsopgave
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1.1 Negative Externalities, ESG & Group Undertakings 11
1.2 Aim, Focus & Purpose of the Study 14
1.3 Methodology & Scope 15
1.3.1 Methodology 15
1.3.2 Scope 16
1.4 Outline 17
Chapter 2 Group Structures 19
2.1 Introduction 19
2.2 Dutch Parent Entity Perspective 20
2.2.1 General Framework 20
2.2.2 Statutory Instruments 21
2.2.3 Practical Tools 23
2.3 Dutch Subsidiary Entity Perspective 25
2.3.1 General Framework 25
2.3.2 Statutory Instruments 27
2.3.3 Practical Tools 29
2.4 Conclusion 30
Chapter 3 ESG Implementation 31
3.1 Introduction 31
3.2 Background and Development of ESG 31
3.2.1 From Compliance… 32
3.2.2 … via Risk Mitigation… 32
3.2.3 … Towards Purpose 33
3.2.4 Overview 34
3.3 The Current Concept of ESG 35
3.4 Regulatory Framework in the EU 36
3.4.1 Reporting and Disclosure Requirements 36
3.4.2 Supply Chain Due Diligence Obligations 39
3.4.3 Duty of Care 41
3.5 Conclusion 42
Chapter 4 Observations from the Field 43
4.1 Introduction 43
4.2 Dutch Parent Entities 43
4.2.1 Governance 43
4.2.2 The Content of ESG 45
4.2.3 Non-Legal Tools 46
4.2.4 Competitive (Dis)advantages and Business Impact 47
4.3 Dutch Subsidiary Entities 48
4.3.1 Governance 48
4.3.2 The Content of ESG 50
4.3.3 Non-Legal Tools 50
4.3.4 Competitive (Dis)advantages and Business Impact 51
4.4 Conclusion 52
Chapter 5 Conclusion 55
5.1 Summary of Main Findings 55
5.2 Recommendations for Future Research 56
5.2.1 General Observations 56
5.2.2 Recommendations Based on Study Limitations 56
5.2.3 Recommendations Based on Study Findings 57
Bibliography 59
Books & Articles 59
Case Law Register 61
The Netherlands 61
Germany 62
Appendix I. Research Team 63
Core Research Team 63
Research Support Team 63
Appendix II. Discussion Protocol 65
Theme 1 | Governance 65
Theme 2 | The Content of ESG 66
Theme 3 | Non-Legal Tools 67
Theme 4 | Competitive (Dis)advantages & Business Impact 68
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