Corporate Rights and Duties to Address Sustainability Challenges: To Set of Opportunities

Abstract

The challenge of ensuring long-term survival is a significant barrier for the human race. The current environmental predicament and the increasing socioeconomic disparity may be attributed to human agency, particularly the acts and choices made by companies. To address these issues, it is necessary to establish a precise understanding of the concepts of sustainability and justice, and to ascertain the specific ways in which companies contribute to the aforementioned challenges. Both fairness and sustainability need the careful examination of temporal and spatial dimensions. However, it is important to note that the law is subject to limitations since it is heavily influenced by jurisdictional factors. Additionally, it is worth mentioning that business law primarily focuses on immediate considerations. The convergence of these elements necessitates an examination of alternative resolutions to the issue, which might include well-established frameworks within corporate law. This article explores the challenges inherent in achieving sustainable development and conducts an analysis within the context of the judicial system. There is a need to initiate changes in corporate board structures and shareholder arrangements in order to reallocate rights and obligations to entities that possess a greater stake in promoting sustainability and equity. Subsequently, the study examines several approaches that might be used to achieve this objective, and proposes reforms to enhance the organization's effectiveness in achieving societal needs. This study is based on qualitative research. Analysing statutes, local and international laws, protocols, conventions, treaties and reports for the accomplishment of this work.