Impacts Global Business on Environmental

The environmental reporting guidelines produced by multinational corporations annually can guarantee the limitations of the effects of corporate activities on the environment. However, these reports have to be part of a broad environmental strategy. If used as unique tools for the promotion of sustainability across the organization then their chances for success are limited. This is the case of British Petroleum. The firm’s activities are highly influenced by sustainability. in fact, an integrated plan on sustainability has been developed across the organization. However, the measures taken by the firm in regard to the protection of the environment have been proved to be inadequate: the environmental accident of 2010 (Gulf of Mexico) in which BP has been involved, has revealed the inability of the firm to control the effects of its operations on the environment.

The failures of the businesses to promote the necessary plans for the protection of the environment from their activities have been identified by governments and organizations worldwide. Appropriately customized legal frameworks have been introduced aiming to ensure the protection of the environment from global business activities. The Environmental reporting guidelines are such a framework. The UK has been the country, which initially established the Environmental reporting guidelines as obligatory for firms operating across its territory. Other countries in the international community followed the same practice.

The establishment of the World Business Council for Sustainable Development, in 1995, verified that the enforcement of Environmental legal rules in businesses worldwide would be appropriately monitored. In practice, this target has not been achieved – the environmental accidents in which BP and other international companies have been involved during the last decade prove the&nbsp.failure of the international organizations and governments to enforce the environmental legal rules in the global market.