From Ignorance, to Indifference, to Limited Familiarity: An Analysis of the Relationship Between International Environmental Law & Multinational Corporations

Abstract

Multinational corporations (MNCs), by definition, operate across borders and, in an increasingly globalized and interdependent economy, are crucial players in international economic affairs. Increasingly, MNCs have come under scrutiny for their operations’ impact on the environment, human rights, health and safety, labor standards, involvement in corruption and so on. This chapter focuses on the specialized field of international environmental law (IEL) and how the current framework relates to MNCs. Following a general overview of international environmental law, including key customary rules and principles, it first examines treaty obligations in the critical regimes on hazardous waste, biodiversity and climate change. Next, it discusses the use and impact of IEL in international and domestic litigation and its impact on MNCs. The chapter then turns to the examination of selected voluntary initiatives, followed by concluding observations on potential obligations and opportunities for MNCs to come.