Time to Take Leadership: Trust and Transparency in the Era of the Green Regulation
by Petteri Lillberg
Five years ago, I co-authored a pioneering book on the role of brand and communications professionals in addressing the climate crisis. While the book was reflective and critical, its tone was optimistic and encouraging. It made the case that private enterprise and the business community, rather than governments or nation-states, were the most effective actors in tackling climate challenges.
Fast forward five years, and two things are clear. We have yet to solve the climate crisis, and instead of free markets leading the charge, the European Union is placing increasing faith in regulation. While markets outside Europe may operate under more relaxed regulatory environments, my recent discussions with partners, clients, and experts in the U.S., Latin America, and China confirm that the EU Green Claims Directive is redefining the rules of engagement. As a top business school professor I talked to in New York poignantly put it, the directive has "the potential to become a world law for all and any business wishing to expand internationally."