The Role of Competition Law in Ensuring Sustainable Growth
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Abstract
The current issue being faced by economies across the globe is of climate change. For dealing with the issue, discussions are ongoing, and measures are being adopted to ensure sustainable development. Now, what role can Competition Law play achieving this objective is a recent area of interest. A question which arises with this issue is that the aim or objective of businesses is to earn profits. Consequently, the issue of impact of their activities on the environment takes a backseat. At the same time, however with increasing awareness about climate change, governments as well as different private entities are encouraging economic growth which promotes sustainability. The aim of this paper is to provide an understanding of the relation between competition law and sustainability. For the same, the approaches of competition authorities across different jurisdictions in incorporating sustainability in competition law will be studied. Further, the paper will also highlight the challenges faced in ensuring the achievement of this objective. The recent trends adopted by different business on meeting the objective of sustainability so far will also be given. Lastly, the feasibility and incorporation of the relevant provisions under India’s competition law regime will form part of this paper.