Review on the role of Law in Corporate Sustainability and Green Practices

Corporate sustainability has become integral to modern business practices, reflecting a shift in how organizations understand their responsibilities to society and the environment. It allows corporations to meet current needs while ensuring future generations can do the same across environmental, social, and economic aspects. To this end, this paper explores the strategic importance of corporate sustainability, examining its connection to enhanced financial performance, operational efficiency, and stakeholder trust. It succinctly evaluates the critical role of legal frameworks in shaping sustainability practices, illustrating how regulations can drive companies to adopt sustainable behaviors while fostering accountability and transparency. Through a systematic literature review, this study investigates the implementation of sustainability regulations across various jurisdictions, the effectiveness of different legal instruments, and gaps within existing frameworks that hinder corporate sustainability efforts. The findings highlight the complexities of legal instruments that influence corporate behavior, emphasizing the need for further research into comparative analyses, the impact of emerging technologies, and longitudinal studies on CSR legislation. Based on these insights, the paper proposes recommendations for policymakers, including promoting comparative studies, integrating emerging technologies into regulations, and involving stakeholders in the policy-making process. Ultimately, this paper aims to inform future policies that strengthen sustainability initiatives in business, enhancing both legal frameworks and corporate practices.