An Analysis of Corporate Environmental Crime and its Regulatory Framework
University of Petroleum and Energy Studies, Dehradun, India.
Volume II – Issue II, 2020
Industries are the principal source of chemical emissions and pollution. They have a responsibility assigned to them by law under which they are expected to carry their operations in such a manner that any degrading effect on the environment must be maintained at the minimum level. Corporate greed and relentless competition coupled with the desire of the company for maximum market capitalization lead them to overlook this environmental regulations. There has been several instances by various corporations over the period of time which depict the importance of environmental regulations its desertion by corporations and the consequences. If any corporate body commits an environmental crime it is known as ‘corporate environmental crime’. The crime may occur if the corporation is outright ignorant of the environmental obligations imposed or it is a result of deliberate and intentional illegal act, a decision taken in the full knowledge that the act is illegal and will result in environmental harm.
Environmental pollution causes degradation of the quality of life and also causes various diseases. It is of paramount importance that the corporations are invested in the sustainable development goals and shall have ethical practices directed towards their emissions and carbon footprint. In this paper we will try to analyze the practices of various corporations in relation to the environment, instances of the violation of regulations and the regulatory framework for the matter present in India and the foreign regulations and laws that shall be incorporated into the Indian scenario for a more robust environmental regulation in India.
Keywords: Corporate Environmental Crime, Emissions, Volkswagen, Sterlite Copper, Environmental Law.