Sustainable development has been defined in many ways, but the most frequently quoted definition is from Our Common Future, also known as the Brundtland Report: "Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.".
Why is sustainable development theory important?
Sustainable development practices help countries and businesses grow in ways that adapt to the challenges posed by climate change. This protects important natural resources for our current and future generations and allows communities to thrive..
sustainable development is important because it integrates economic progress, social equity, and environmental stewardship. we can ensure a balanced and prosperous future for all By embracing sustainable practices.
Sustainable development under environmental law emphasizes the responsible use of natural resources, the reduction of pollution and waste, and the promotion of renewable energy sources. It involves crafting legal frameworks that strike a balance between development goals and environmental conservation.
The European Green Deal is EU's plan to make our economy sustainable. We can do this by turning climate and environmental challenges into opportunities. Competition policy is not in the lead when it comes to fighting climate change and protecting the environment.
Competition law and sustainable development intersect on their emphasis on efficient resource allocation, protecting product quality, and promoting technological advancement and innovation. Thus, competition authorities will have a considerable influence on the direction of sustainability-related business practices.
The CMA’s approach to sustainability agreements
Supporting the transition to a low carbon economy is a strategic objective for the CMA. As part of our work in this area, the CMA wants to ensure t...
Overview for businesses
Competition encourages businesses to improve and innovate, for the benefit of their customers. Competition law is therefore designed to protect con...
Use a fair standard-setting process
Many sustainability agreements are standard-setting agreements by which businesses, often through trade associations or standardisation organisatio...
Avoid serious restrictions of competition and anti-competitive behaviour
‘By object’ restrictionsThere are certain forms of collusion between companies which by their nature are most likely to prevent, restrict or distor...
Consider available allowances and exemptions
Assess the size of your market shareIf the combined market share of the businesses involved in a sustainability agreement is below a certain thresh...
‘Framework for assessment’ flowchart
In order to assist with consideration of the risks involved in setting up a sustainability agreement, the CMA has provided a flowchart which should...
,Climate change is the crisis of our time affecting every country on every continent. The 2030 Agenda for Sustainable Developm…
Competition law and sustainable development
Academic journal
Trade, Law and Development (TL&D) is a biannual, student-ran, academic journal published by National Law University, Jodhpur, India. It provides a forum for the exchange of ideas and constructive debate on legal and policy issues surrounding world trade, cross-border investment, and development, among other inter-related aspects of international law. The main focus areas of the Journal are international trade law and international economic law. It was founded in 2009 by Shashank P. Kumar, an alumnus of NLU, Jodhpur.
