ABSTRACT
This chapter analyzes the relationships between corporations and regulators. It points out that these relations have undergone significant changes through the expansion of transnational regulations, often soft in nature, building on both voluntariness and the active participation of the regulated entities. Two empirical cases are studied in detail: the UN Global Compact and the European Union Emissions Trading Scheme. Both cases illustrate how the interpretation of the agreement principles evolved in reciprocal dialogues and how the roles between those regulating and those being regulated became blurred in the process.
