LAW & ECONOMICS: MERGERS - COMPETITION POLICY - SUSTAINABILITY FACTORS

Sustainability factors in merger control assessments: Do ambitious efforts fall short of expectations?

Sustainable development has emerged as a principal focal point of economic life over the last decade. Given the increasing pressure in this area, the policymakers are now trying to mobilize each and every policy tool at their disposal in pursuing sustainability targets, including competition policy. However, certain competition authorities and practitioners raise their concerns over pursuing a sustainability agenda through competition law due to the potential drawbacks in the long run, whereas a large number of scholars oppose these criticisms on the grounds of public policy objectives. In practice, certain steps have been taken in the competition legislation so far; however, the draft legislative initiatives have not yet become binding legislation, or those being implemented have not borne fruit yet. To that end, this paper discusses these ambitious efforts from a merger control perspective.

I. General overview 1. The Sustainable Development Goals (SDGs) is an ambitious plan which aims to meet the urgent environmental, political, and economic challenges facing our world. This plan, adopted at the UN Sustainable Development Summit in September 2015, includes 17 sustainable development goals and 169 targets, aiming to achieve human rights for all, to protect the planet from degradation and take urgent action on climate change so that the planet can support the needs of the present and future generations. “[The SDGs] are integrated and indivisible and balance the three dimensions of sustainable development: the economic, social and environmental.” [1] All of the UN Member States adopted the plan in 2015 and pledged to “[t]ake bold and transformative steps which are urgently

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Authors

  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)
  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)
  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)

Quotation

Kağan Uçar, Gönenç Gürkaynak, Hakan Demirkan, Sustainability factors in merger control assessments: Do ambitious efforts fall short of expectations? , November 2021, Concurrences N° 4-2021, Art. N° 103263, www.concurrences.com

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