Globalization of Sustainable Development: Principles and Practices in Transnational Corporations

The growing public concern that private corporations should not only earn reasonable profits and provide fair returns to shareholders, but also operate as good corporate citizens and socially responsible organizations, has spread to the largest transnational corporations (TNCs), and seems to have been taken up by companies in both richer and poorer countries. Sustainable development calls for people and organizations to meet their present needs in such a way that does not hinder future generations’ ability to do the same. Many TNCs are creating voluntary environmental programs to manage more effectively the environmental impacts of their plants, facilities, and operations. These initiatives are especially important in developing countries with hazardous environmental conditions, social conditions, and non‐existent or poorly implemented regulatory protection.