The role of transnational private regulation in green regionalism: ISDA and the development of sustainability-linked derivatives

Publication Type

Book Chapter

Publication Date

1-2026

Abstract

This essay explores and assesses the role of transnational private standard-setting and self-regulation in green regionalism, as illustrated through the impact of International Swaps and Derivatives Association (ISDA) initiatives concerning the development of sustainability-linked derivatives. Transnational private regulation is associated with various issues and concerns, such as in relation to its legitimacy, accountability, and the extent to which it addresses externalities and serves the common welfare. Nevertheless, the quasi-legislative, market-based and flexible nature of transnational private regulation allows it to facilitate market development, address risks and order market spaces where public regulation is absent or scarce – thus serving an important supplementary role in relation to green regionalism.

Keywords

Green Regionalism, International Swaps and Derivatives Association, Sustainability-linked Derivatives, Transnational Private Regulation

Discipline

Business Organizations Law

Research Areas

Corporate, Finance and Securities Law

Publication

Chinese (Taiwan) Yearbook of International Law and Affairs

Volume

42

Editor

MA, Ying-jeou

First Page

70

Last Page

86

Identifier

10.1163/9789004752603_006

Publisher

Brill Academic Publishers

Additional URL

https://doi.org/10.1163/9789004752603_006

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