Climate change and business development: a critical analysis of ways to achieve sustainable development

Abstract

Climate change is one of the most significant issues of current times. The role that businesses play in the issue of climate change is extremely important. Economies that are driven by business are responsible for a considerable share of the carbon emissions that constitute a big contributor to climate change. The objective of the study is to find out the role and responsibility of businesses in climate change and to critically analyses the efforts done on national and international level to achieve sustainable development. UN Guiding Principles on Business and Human Rights 2011 imposes duty on the businesses to respect human rights. Considering this duty, businesses have duty to avoid causing environmental harm because it adversely impacts human rights. By using the doctrinal methodology through primary and secondary sources present paper first discusses environmental harms which causes climate change arising from the business activities and duty of the state to protect the human rights from climate change. Further it includes discussions about the regulations at international and national level which imposes responsibility on businesses to respect human rights and related issues. Finally, we conclude that most of the businesses are following the regulations imposed by government for the namesake only and also, they are indulged in greenwashing and still businesses accountability is not clear. Most proposed changes attempt to discuss that government should make the stakeholders aware about all the policies and make a clear distinction between environmental protective and environmentally friendly.