International Regime of Environmental Protection : Emerging Need for Corporate Social Responsibility or Corporate Liability?

stronger environmental laws armed with stronger and sharper teeth (enforcement mechanism) would serve the purpose of protecting this globe from burning out in global warming. It would not be sufficient to put a social responsibility (moral) on the corporations rather a criminal liability (sanction) is important for effective compliance. Further, there is a need of pubic participation and public accountability of corporations. Moreover, calls for stronger corporate laws cannot be viewed from just a financial perspective. The impacts of corporate activity on the environment and the community tell us that it also needs to be viewed from an environmental and social perspective. Therefore, corporate law reform must deliver strong laws that will ensure companies are governed in an environmentally and socially responsible way and that environmental and social impacts are considered in corporate decision making