SUSTAINABILITY THROUGH CONTRACTUAL AGREEMENTS: DRIVING ETHICAL AND ENVIRONMENTAL BUSINESS PRACTICES

Author – S.SRINIDHI, SAVEETHA SCHOOL OF LAW, SIMATS

Best Citation – S.SRINIDHI, SUSTAINABILITY THROUGH CONTRACTUAL AGREEMENTS: DRIVING ETHICAL AND ENVIRONMENTAL BUSINESS PRACTICES, INTERNATIONAL ENVIRONMENTAL LEGAL RESEARCH JOURNAL, 1 (1) of 2023, Pg. 75-80, ISBN – 978-81-960677-0-0.

ABSTRACT:

As the world faces growing environmental and social challenges, businesses are under increasing pressure to adopt more sustainable practices. One approach that has gained traction in recent years is the use of contractual agreements to encourage ethical and environmentally-conscious business practices. This paper explores the potential benefits and challenges of incorporating sustainability into contractual agreements, including legal considerations, practical challenges, and emerging trends in sustainable contracting. By incorporating sustainability into contractual agreements, businesses can establish clear expectations and standards for sustainability performance among suppliers and partners, reduce legal and reputational risk, and enhance their reputation among customers and stakeholders. While there are several challenges associated with implementing sustainable contracting, emerging trends such as third-party certification schemes, digital technologies, and collaborative approaches offer promising solutions. Overall, sustainable contracting represents a critical pathway towards a more sustainable future.

KEYWORDS: Sustainability, Contractual agreements, Ethical business practices, Environmental business practices, Corporate social responsibility