New Delhi, Sep 13 : Business entities have the power and moral responsibility to contribute towards climate action for fulfilling the mandate of international and national obligations, Supreme Court judge, Justice BR Gavai said on Wednesday while calling for a move from "Corporate Social Responsibility" to "Corporate Legal Responsibility".
Addressing a panel session on Corporate Legal Responsibility and Climate Change at the Commonwealth Magistrates' and Judges' Association (CMJA) Annual Conference 2023 in the UK's Cardiff, Justice Gavai said that climate change is one of the most pressing global challenges of our times which requires collective action and a comprehensive legal framework to address its impacts.
He said that CSR, which is a moral responsibility pursued by corporations, should not be left to self-regulation in the event of conflict or serious harm to the environment, animals or people.
"We must move from 'Corporate Social Responsibility' to 'Corporate Legal Responsibility'," he said.
Justice Gavai said that many judgments of the Supreme Court have highlighted the duty of corporations to protect the environment and contribute to the remediation of environmental damage caused by their activities. He referred to the principles evolved by the judiciary like "polluter pays", "precautionary principle", and "sustainable development".
By participating in collaborative initiatives, sharing best practices, and setting ambitious climate targets, corporations can contribute to the overall effort to combat climate change, he said.
/IANS