Description
This paper investigates the rise of governance-by-disclosure in the global climate regime, questioning how carbon disclosure has become a dominant norm over more strict regulations. Employing discourse network analysis, we analyse the evolution of carbon disclosure frames in the European Union (EU) between 2000 and 2020. We show that debates on carbon disclosure were initiated by non-state actor coalitions that framed transparency as a risk moderator and an economic opportunity for businesses and investors. These findings confirm the expectations of stakeholder and economic theories of transparency, emphasising privatisation and marketisation as pivotal drivers of the disclosure regimes. Additionally, since early 2010s, we observe an increasing trend towards institutionalisation/diffusion. Especially after the Paris Agreement, European actors have converged around regulatory frames in addition to existing dominant frames on economic benefits and stakeholder interests. Reflecting increasing consensuality of frames, this period also coincides with a significant expansion in policy initiatives advocating for greater mandatory disclosures.
