Competition Law Tackling Sustainability Goals : An Analysis of International Practices and the Challenges Ahead
Vijay Pratap Singh Chauhan, Aakriti Thakur, assisted by Shruti Khaitan
The ever-increasing awareness of the climate change has put the need for a responsive and pro-active competition law regime fostering sustainability into the limelight. Many competition authorities /regulators have been looking at ways to go green in recent times. Sustainability and the revision of competition framework have gained significant importance in recent times. It has become clearer over the past few years that sustainability goals can be achieved when companies, including the regulators, cooperate to establish industry-wide sustainability goals and put them into practice. The sustainable goals of the United Nations along with the promise of the various nations to achieve sustainability in the
coming decades, will frame the future course for development keeping in mind the Paris Agreement. Green antitrust policy combined with economic progress is now one of the highly debated topics by regulators of various jurisdictions. The time is ripe for the Competition Commission of India to provide concrete competition policy for sustainability initiatives as well a detailed guidance to the companies in
order to achieve the sustainability goals. The path to a sustainable antitrust policy is covered with various hindrances such as economic development, innovation, jurisdictional challenges and India’s international commitments.