TRANSNATIONAL CORPORATIONS AS A MENACE TO THE ENVIRONMENTAL DEVELOPMENT

Transnational Corporations are important entities with regard to economic development, however they are also responsible for major environmental degradation throughout the world. They chose developing countries strategically because they offer opportunity to expand the market and also there regulatory framework is weaker to control transnational corporations. Their assets are their power, which are enormous than GDP of several countries. Thus their powerful position enables them to exploit the natural resources that sometimes even food, water and health becomes scarce for everybody. The paper is classified into 4 major portions. The first one discusses introduction and historical development. In second part the paper has discussed various cases in which environmental degradation was found to be rampant. It also discusses the ways through which influence is exercised to get favour. The third part deals with the legal framework to properly regulate the TNCs. It discusses the entire journey whenever attempts were made to influence others. Lastly, the fourth portion contains the findings of the research and conclusion along with the suggestions. The author through this paper makes an attempt to thoroughly understand the issue of environmental degradation due to the actions of Transnational Corporations and further, explore the areas which are generally not analysed but plays crucial role in exposing the topic.

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 ISSN(O): 2347-3827

© Rajiv Gandhi National University of Law Punjab, 2020