Corporate Sector and Environmental protection

In the era of globalization repid industrialization is taking place creating an increasing pressure
on environment. Rapid industrialization and faster growth rate are required of a developing
country in fact Corporate Sector is the main consumer of the resources provided by environment.
At the same time they are considered as one of the main polluter. The pollution causes
impairment of environment. Through environment protection this impairment can be fulfilled.
The programme concern for environment essentially mean to protect and conserve it partially
through developmental programmes and in most case for the benefit of local population. There is
bit effort to modify the development process to bring it in greater harmony with (i) the needs of
people and (ii) the need to maintain an ecological balance, while increasing the productivity of
our land , water and forest resources.

Corporate Sector and Developing Country:

Corporate Sector is te necessity of a developing country and for the growth of the nation.
Community needs Corporate Sectorfor their livelihood support: the Corporate equally needs the
community for their operatio. The concept and movement of Corporate Social Responsibilty
(CSR) for disaster and environmental management has been growing rapidly in the world,
particularly among those corporation located in disaster prone and biodiverse regions.

Affect of corporate Sector on Environment:

Unplanned industrialization release huge amount of effluents, hazardous wastes and emission of
chemical from the industrial units in environment are the main cause of environmental damage.
These are:i.
ii.
iii.
iv.

Ozone hole
Global Warming
Acid Rain
Water Pollution

Annual Reports of Corporate Sector in concern of Environmental Protection:

Annual report shows that Corporate has launched a number of Environmental Management
Programme in different ways to protect the environment from pollution which bhave been
clearly disclosed in their Annual Reports. The corporate spend huge amount of expenditure for
prevention of pollution an dprotection of environment.
Lack of Annual Report:
In their annual report,it was not found its financial statement to segregate the expenditure
incurred by the various environmental activities under the head Expenditure Cost &
Expenditure.

Ways of Environmental Protection:

with the help of following ways we can protect our environment:(i)

Fulfill the Lack from Corporate Social Responsibility of (CSR) activities:

CSR should fulfill the lacks of employee education. Environmental considerat ion, capacity
building development of infrastructure, and trust building.
The acivities that are practiced as CSR are primarily of a short time should be response, rather
than proactive( therefore, it may not have a lasting effect on the community resulting in shortlived impacts of the activities). With propernprecautionary involvement of activities in CSR ,
communities will be more resilient and better prepared for the future disaster and environmental
hazard.
(ii)

Laws for Environmental Protection:

Most of the companies in India are not aware of environmental issues, the Government of
India should introduce and enact a new place of company law for disclosing the environmental
information in the Annual Report Mandatory. At the same Award for the best presentation for
disclosing environmental information in the Annual accounts may also be introduced by the
confederation of Indian Industries.
The Organization of the Economic Corporation and Development (OECD) agreed to base
their Environment policies on Polluter Pays Principle and it was recommended as an
essentially economic efficiency measure to internalize environment cost.
Polluter Pays principle (PPP) , which was originally considered as an economic
administrative measure to restrain and control the pollution problem has recently been
recognized as combat environmental pollution and associated problems.

(iii)

Environmental Management:

With the help of Environmental Management we can protect environment. The toolof
Environmental Management Accounting and Reporting. These tools help in the treatment of
Environmental Issues.
(iv)

Biotechnology:

It involves specific applications of Biotechnology to the management of environment and

related socio-economic and development issues keeping in view the concept of sustainable
development.
Conclusion:
Corporate Sector , which is more responsible for Environmental Degradation ,sould be more ecofriendly. The corporate should disclose both the positive and negative impact of their activities
on environment. The corporate should take a proper environmental policy and set aside a part of
their fundsfor environmental promotion. Corporate sector should abide by various laws and
regulation to prevent and control the pollution of environment. Now there is an urgent need to
develop a comprehensive guideline for environmental accounting and suitable format for
environmental reporting as a device of environmental protection. There is the need of holistic
understanding of the relationship between the environmental and the development process taking
place in the country. Development at the cost of environment can take place only upto a point.
Developmet without a concern for the environment can be a short term development, which in
the long term can be anti-development that can go at the cost of human sufferingand oppression.
Each Corporate citizen should bear the moral responsibility toward the protection of the
environment from damage and pollution.

Reference: THE HINDU news paper,environmental science books, companies reports i.e. cocacola.

NAME:

Priya Singh