This book expands on law-related research by comprehensively
examining the legal aspects of sustainability with a focus on the
impact on business strategies, investigating the impact of law and
regulation on business sustainability strategies through a variety
of legal lenses. It assumes that firms must adopt an integrated
approach to law and sustainability, considers multiple disciplines
and goals and joins scholarship from fields such as environmental
law, energy, government regulation and intellectual property.
Firms increasingly have an interest in transitioning to
sustainable business practices that take into consideration the
fact that global resources are finite and will be increasingly
scarce. They acknowledge that current actions have social, economic
and environmental consequences and employ options to ensure that
future generations have the same options and benefits.Examples of
sustainable practices increasingly employed by firms include the
institutionalization of whole life-cycle analysis in marketing and
product design, utilization of sustainable inputs and energy
sources, tracking and reporting sustainability performance,
attempting the valuation of future generation prosperity and
happiness as a discounting mechanism and integrating sustainability
into firm culture and management goals.
It is clear that law and regulation have an extremely important
role to play in the transition to more sustainable business
practices. Broadly stated, law can provide structure for firms
responding to forces that pull transition by enabling
sustainability leadership and competitive advantage through funding
models, intellectual property rights and collaboration
means.Additionally, law can work to push transition by compelling
firms to act through regulatory structures, accounting and
governance mechanisms.Finally, coherent legal approaches are
necessary to harmonize transition across countries by aligning and
adapting goals to promote an equitable global marketplace that
promotes development.
Representing a variety of areas and perspectives, the authors go
beyond the existing legal literature to explore the impact of
sustainability law on business practice and its implications for
policy and future research."
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