Business enterprises and their policies of conducting business have always been considered as debatable, and another aspect is following social and environmental regulations of jurisdictions in which companies conduct their business-either domestic enterprises or international ones. In different scenarios, companies self-regulate themselves and, in this prospect, environmental conduct cannot be adhered to properly. On the other hand, it has been observed that MNC's increasingly self-regulate their environmental conduct. Experience shows that when the MNC's or the polluting companies faced with strong environmental regulations, they move their base of operations to another country with lower (thus cheaper) standards and it affects that country massively. The same situation when it appears with a domestic company, it tries to disguise its fallacy through lack of regulations and policy within its own jurisdiction. What can be done to stop this? Indeed, there are various examples historically such as Lubbe v Cape PLC etc., and similarly, more stringent waste regulations in Europe and other industrialized nations can also help. What about stakeholders and internal management, and how do the repercussions of not adapting to the principles of corporate social responsibility?
1-Zarfishan Qaiser: Assistant Professor. University Law College, (New Campus) University of the Punjab, Lahore, Punjab, Pakistan.2-Khushbakht Qaiser: Assistant Professor, Kinnaird College for Women Lahore, Punjab, Pakistan.
Regulations, Corporate Social Responsibility, Multi-National Companies, Convergence, Human Rights.