Strateginen resilienssi ja ylikansalliset arvoketjut: kohti uutta talousoikeutta

Strategic resilience and global value chains: Reshaping the global legaleconomic orderDuring the COVID-19 pandemic, states and private actors alike resorted to the unilateral use of states of exception in a desperate attempt to stabilise biosecurity. In this process, they destabilised the private law foundations of a world dependent on global production networks. Such massive, uncoordinated and unplanned responses may become increasingly prevalent in a world facing the threat of new pandemics, war, anthropogenic climate change, mass migration, financial meltdowns and other global-systemic crises. In this paper, we chart the emerging strategic resilience paradigm that grew from the manifold exception-based responses to the COVID-19 pandemic. We outline the strategic resilience paradigm and how it diverges from earlier neoliberal approaches to global production. We evaluate the practical effects of the strategic resilience paradigm from the perspectives of three key actors: what private actors, states and supranational actors, especially the European Union but also international organisations, can do to secure the supply of critical materials from global production networks in times of global systemic crises. Finally, we look at the consequences of different approaches,  differentiating between selfish, but from a local public policy perspective justifiable, interests of individual nation states and trading blocks, and a more globally fair and participative, but in practice probably utopian, transnational or international approach to ensuring the just supply of critical materials

Proactive legal design:making sustainability visible and monitorable in SME loan agreements

According to the European Commission SMEs represent for over 99 % of all European businesses and are responsible for around 60 % of all business greenhouse gas emissions. Therefore, SMEs play a crucial role in sustainability transformation. However, SMEs have some key characteristics, such as lack of skills and knowledge, which may challenge the effective integration of sustainability into their business operations as compared to large companies. The financial system has a key role to play in promoting sustainable development. Corporate finance can redirect capital flows towards sustainable investments. Loan agreements are essential in promoting sustainability in businesses, and clear and measurable ESG clauses in contracts ensure lenders receive accurate data to monitor sustainability performance. This article discusses how proactive contracting and design-based methods can simplify ESG clauses in loan agreements, make them visible and monitorable through design-based methods, enhance understanding between parties, and achieve ESG objectives in day-to-day business practices.According to the European Commission's Sustainable Finance Strategy, the financial system has a key role to play in promoting sustainable development toward a greener and more sustainable economy. Small and Medium-sized Enterprises (SMEs) represent over 99% of all European businesses and are responsible for around 60% of all business greenhouse gas emissions. Small and Medium-sized Enterprises are therefore crucial to the success of the European Union's sustainability transition. The share of sustainable finance for SMEs will grow both as a result of increasing sustainability legislation and the expectations of customers and stakeholders. However, integrating sustainability can be challenging for SMEs due to limited resources and expertise. The article highlights the importance of clear, transparent, and implementable contract documents as tools to enhance sustainability in financing. Proactive contracting and legal design approaches are discussed as means to transform contracts into management and communication tools, to promote sustainable business practices