Environment Law: Growth of Soulless Businesses

Modern business houses are often referred as soulless corporations. This is because they pose a threat to the environment and violate environment laws often. Pavan Sukhdev heads the United Nation’s investigation into how to stop destruction of the natural world. He states those business corporations often tend to pollute the environment as they place more importance to achieving their short term goals. In the process, they ignore the long term environmental hazards.

Sukhdev is all set to publish the much awaited segments of his report titled ‘the Economics of Ecosystems and Biodiversity (TEEB) for Business.’ The report highlights the growing costs of biodiversity loss and ecosystem degradation. The report will be launched during the first Global Business of Biodiversity Symposium in London.

Environment Law: Estimated Cost of Environmental Destruction is Staggering

The Environment secretary, Caroline Spelman is expected to address those who attend this event using real examples of businesses that cause great damage to the environment. Further, she will be citing examples on how staggering the costs are on world economy and society. The estimated cost is $2tn-$5tn (£1.3tn-£3.3tn) per year. Spelman will also cite the example of BP oil spill in the Gulf of Mexico, which lowered the price of BP’s share.

Environment Law: Failure to Regulate Private Corporations

Sukhdev pointed out that although the private corporate houses violate environment laws and pose danger to environment, they are still important. He said that they provide employment and pay huge amount of taxes to the government. He said that it is obvious for the business houses to be selfish and soulless. However, the society shall take the responsibility to regulate the behavior of the private companies. The leaders and representatives of the society should take initiatives to restrict the corporations from causing such destruction.

Earlier, Sukhdev had called for implementation of more stringent rules pertaining to pollution. Also, the failure of the government to do so will make us more vulnerable to floods, carbon emission, greenhouse effect, destruction of forests and ecosystems.