“…The global diffusion of 'regulatory capitalism' (Lévi-Faur, 2005) and the rise of 'private authority' (Hall and Biersteker, 2002;Pattberg, 2005) challenge the long-standing supremacy of states and international organisations in global affairs. In a multi-actor world (Kaul et al, 1999), global governance no longer unfolds through state-led multilateralism alone, but also through forms of 'transnational regulation' (Djelic and Sahlin-Andersson, 2006), 'hybrid governance arrangements' (Graz, 2006;Andonova, 2010) and networks of corporate self-regulation (Müller and Cloiseau, 2015;Short, 2012).…”