This divergence is further complicated by the rise of Environmental, Social, and Governance (ESG) standards. While the European Union has implemented stringent ESG reporting requirements under its Corporate Sustainability Reporting Directive (CSRD), the U.S. currently lacks a comprehensive federal framework regulating ESG, leaving companies to navigate a patchwork of state-level regulations. Volume XLVIII staff editor Shanaia Carvalho agrees that the absence of a cohesive federal or state ESG framework in the U.S. creates significant compliance challenges for corporations operating globally.
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