Businesses are facing increasing pressures to tackle social and environmental challenges like climate change, biodiversity loss and inequality. However, most businesses are failing to meet these challenges head on, and governments have struggled to hold them accountable.
With increased globalization, supply chains for everyday products have become increasingly complex and can span a large number of jurisdictions, making it difficult for governments to regulate business conduct on their own. A new approach to business regulation is needed to suit this changing context and address pressing global issues.
