Papers by Dimitrios Iliopoulos
This article will encompass an analysis on the concept of Corporate Social Responsibility (CSR) i... more This article will encompass an analysis on the concept of Corporate Social Responsibility (CSR) in the European Union. For this purpose, the respective legal framework will be brought up for further analysis. The guidelines and principles as followed from the European Commission will be discussed further aiming to understand the ratio of this notion and the impact is having in modern business practice.
What is more, the trend towards Corporate Social Responsibility becoming mandatory has advanced considerably, in view of the upcoming duty of the large European companies to issue annual social and environmental performance reports. These very non-financial performance reports appear to reflect frameworks such as the U.N. Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises and the UN Global Reporting Initiative. The latter alongside with the respective criticism as widely expressed will be further discussed in order to determine the efficacy and legitimacy of the very CSR concept.
In particular, there is evidence that financial and CSR disclosures act as substitutes for each other in reducing the cost of equity capital. What is more, some countries seem to get CSR sooner and in greater quantity than other; in this context a discussion will be held out on the political economy of corporate responsibility and the rise of market liberalism . Additionally, a discussion will be made on the concerns as raised from a corporate governance perspective in regards to the way internationalization strategies should be carried out in regards to CSR activity. Finally, the very role of CSR is questioned; should it treated like a means to regulate the economy or solely as a domain of voluntary activity that should remain free of state regulation?
The following article is a thesis on the European Union Emissions Trading Scheme from a legal as... more The following article is a thesis on the European Union Emissions Trading Scheme from a legal aspect. This thesis will analyze the essential legal instruments to determine the legal framework applicable to the price intervention mechanism of the European Union Emissions Trading Scheme (EU ETS). Such an analysis will encompass the legal instruments of Directive 2003/87/EC and the Auctioning Regulation 1031/2010/EU as connected to the issue of price volatility in the carbon market and subsequently to the issue of price volatility in the electricity market .
The foremost research will be about the issue of price volatility in the carbon market as an important concern occurred upon the introduction of the EU ETS and secondarily the interaction of this concern to the volatile prices in the power sector.
Towards this endeavor, the price intervention mechanism as provided in the legal instruments will be criticized in regards to its efficiency and its proper functioning. As a result, the issue to be determined will be whether this mechanism is expected to achieve its purpose as designed to or not.
For this purpose, the backloading measure as recently proposed by the European Commission will be brought up for analysis. The impact of the acceptability of such a measure by the different stakeholders will be reviewed, as has been set under public discussion the last few months. Even if such measure constitutes a concern referring explicitly to low carbon prices, such an analysis will get us familiarized to the challenging acceptability of such policies as proposed, underlining, inter alia, the expectations and needs of the interested stakeholders concerning the volatile carbon prices.
What is more, an assessment will be made regarding the issue of price volatility in the power sector as an important problem occurred under the introduction of the EU ETS and the interaction of this problem to the volatile prices in the carbon market. This challenging interaction will be stated and analyzed further in a succeeding chapter.
Furthermore, the need of redefinition of the current scheme will be pointed out regarding opportunities against potential market inefficiencies from price volatility. Such inefficiencies would be companies' increased production cost and the competitiveness loss of their products and the discouragement of business incentives .
Additionally, this thesis will come across the necessity to mitigate price volatility in the carbon market within European Union in the long run. For this purpose, a proposal will be made regarding the choice of an optimal policy instrument, through a comparison of different policy instruments either within the European Union or not. This comparison will be of assistance to understand the dynamics of the current scheme and the potential of a modified scheme empowered with design features that could substantiate an efficient policy after all.
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Papers by Dimitrios Iliopoulos
What is more, the trend towards Corporate Social Responsibility becoming mandatory has advanced considerably, in view of the upcoming duty of the large European companies to issue annual social and environmental performance reports. These very non-financial performance reports appear to reflect frameworks such as the U.N. Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises and the UN Global Reporting Initiative. The latter alongside with the respective criticism as widely expressed will be further discussed in order to determine the efficacy and legitimacy of the very CSR concept.
In particular, there is evidence that financial and CSR disclosures act as substitutes for each other in reducing the cost of equity capital. What is more, some countries seem to get CSR sooner and in greater quantity than other; in this context a discussion will be held out on the political economy of corporate responsibility and the rise of market liberalism . Additionally, a discussion will be made on the concerns as raised from a corporate governance perspective in regards to the way internationalization strategies should be carried out in regards to CSR activity. Finally, the very role of CSR is questioned; should it treated like a means to regulate the economy or solely as a domain of voluntary activity that should remain free of state regulation?
The foremost research will be about the issue of price volatility in the carbon market as an important concern occurred upon the introduction of the EU ETS and secondarily the interaction of this concern to the volatile prices in the power sector.
Towards this endeavor, the price intervention mechanism as provided in the legal instruments will be criticized in regards to its efficiency and its proper functioning. As a result, the issue to be determined will be whether this mechanism is expected to achieve its purpose as designed to or not.
For this purpose, the backloading measure as recently proposed by the European Commission will be brought up for analysis. The impact of the acceptability of such a measure by the different stakeholders will be reviewed, as has been set under public discussion the last few months. Even if such measure constitutes a concern referring explicitly to low carbon prices, such an analysis will get us familiarized to the challenging acceptability of such policies as proposed, underlining, inter alia, the expectations and needs of the interested stakeholders concerning the volatile carbon prices.
What is more, an assessment will be made regarding the issue of price volatility in the power sector as an important problem occurred under the introduction of the EU ETS and the interaction of this problem to the volatile prices in the carbon market. This challenging interaction will be stated and analyzed further in a succeeding chapter.
Furthermore, the need of redefinition of the current scheme will be pointed out regarding opportunities against potential market inefficiencies from price volatility. Such inefficiencies would be companies' increased production cost and the competitiveness loss of their products and the discouragement of business incentives .
Additionally, this thesis will come across the necessity to mitigate price volatility in the carbon market within European Union in the long run. For this purpose, a proposal will be made regarding the choice of an optimal policy instrument, through a comparison of different policy instruments either within the European Union or not. This comparison will be of assistance to understand the dynamics of the current scheme and the potential of a modified scheme empowered with design features that could substantiate an efficient policy after all.
What is more, the trend towards Corporate Social Responsibility becoming mandatory has advanced considerably, in view of the upcoming duty of the large European companies to issue annual social and environmental performance reports. These very non-financial performance reports appear to reflect frameworks such as the U.N. Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises and the UN Global Reporting Initiative. The latter alongside with the respective criticism as widely expressed will be further discussed in order to determine the efficacy and legitimacy of the very CSR concept.
In particular, there is evidence that financial and CSR disclosures act as substitutes for each other in reducing the cost of equity capital. What is more, some countries seem to get CSR sooner and in greater quantity than other; in this context a discussion will be held out on the political economy of corporate responsibility and the rise of market liberalism . Additionally, a discussion will be made on the concerns as raised from a corporate governance perspective in regards to the way internationalization strategies should be carried out in regards to CSR activity. Finally, the very role of CSR is questioned; should it treated like a means to regulate the economy or solely as a domain of voluntary activity that should remain free of state regulation?
The foremost research will be about the issue of price volatility in the carbon market as an important concern occurred upon the introduction of the EU ETS and secondarily the interaction of this concern to the volatile prices in the power sector.
Towards this endeavor, the price intervention mechanism as provided in the legal instruments will be criticized in regards to its efficiency and its proper functioning. As a result, the issue to be determined will be whether this mechanism is expected to achieve its purpose as designed to or not.
For this purpose, the backloading measure as recently proposed by the European Commission will be brought up for analysis. The impact of the acceptability of such a measure by the different stakeholders will be reviewed, as has been set under public discussion the last few months. Even if such measure constitutes a concern referring explicitly to low carbon prices, such an analysis will get us familiarized to the challenging acceptability of such policies as proposed, underlining, inter alia, the expectations and needs of the interested stakeholders concerning the volatile carbon prices.
What is more, an assessment will be made regarding the issue of price volatility in the power sector as an important problem occurred under the introduction of the EU ETS and the interaction of this problem to the volatile prices in the carbon market. This challenging interaction will be stated and analyzed further in a succeeding chapter.
Furthermore, the need of redefinition of the current scheme will be pointed out regarding opportunities against potential market inefficiencies from price volatility. Such inefficiencies would be companies' increased production cost and the competitiveness loss of their products and the discouragement of business incentives .
Additionally, this thesis will come across the necessity to mitigate price volatility in the carbon market within European Union in the long run. For this purpose, a proposal will be made regarding the choice of an optimal policy instrument, through a comparison of different policy instruments either within the European Union or not. This comparison will be of assistance to understand the dynamics of the current scheme and the potential of a modified scheme empowered with design features that could substantiate an efficient policy after all.