Sustainable Business
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Sustainable Business

Theory and Practice of Business under Sustainability Principles

Edited by Geoffrey Wells

Recent surveys of international CEOs confirm that companies increasingly see sustainability as critical to their business strategy. The rigorous academic framework for the field of sustainable business required to respond to this need is now emerging. This book presents important new work in the theory of the sustainable firm, in the application of sustainability principles to key management disciplines, in sustainable business in practice, and in the international challenges that are critical to sustainability demands.
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Chapter 14: International trade law, climate change and carbon footprinting

Vicki Waye


Sustainable development is now thoroughly integrated into international and national governance and policy making, and widely accepted within the business community (Matthew and Hammill, 2009; Keijzers, 2005). Through organizations such as the World Business Council for Sustainable Development and the International Chamber of Commerce, global business leaders have committed to sustainable business practice and, by means of initiatives such as the Sustainability Reporting Guidelines (Global Reporting Initiative, 2011; Carbon Disclosure Project, 2011) have also committed to ensuring that sustainability standards are transparently monitored. Business everywhere is keen to spruik its sustainable development credentials. Climate change poses a significant threat to sustainable development and has been classified as ‘the greatest and widest-ranging market failure ever seen’ (Stern, 2006). Projected increases in global temperatures not only endanger human welfare by reducing the supply of potable water and by putting global food production at risk, they also have a devastating impact upon the environment and biodiversity.

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