Bertram Lomfeld, ‘Sustainable Contracting: How Standard Terms Could Govern Markets’

Every (global) contract should include sustainability terms. The following chapter discusses the ‘why’, ‘what’ and ‘how’ of this claim. It outlines a general structure for Global Sustainability Terms (GSTs), ie any standard terms concerned with the sustainability impact of contracting. Widely standardized sustainability terms could enable a normative narrative of ‘sustainable contracting’, enhancing fair transactions and sufficient use of resources. Internal contractual standards establish a sustainable private self-governance that could reshape global market realities. To implement the values of sustainability at the heart of a basic market institution like contracts might in the long run even transform our economic thinking.

Lomfeld, Bertram, Sustainable Contracting: How Standard Terms Could Govern Markets (2015). Lomfeld, Somma and Zumbansen (eds), Reshaping Markets, Cambridge University Press, 257-282 (2016).

First posted 2018-05-05 08:15:47

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