The role of transnational corporations in climate change mitigation: the need for stricter regulation

Abstract

Climate change is one of the most urgent environmental crises of the 21st century. Global climate governance is essential to address these challenges, as it involves multiple actors in defining goals and overseeing actions. The private sector, particularly transnational corporations, plays a key role in this context. These companies have the potential to implement innovative solutions to mitigate climate change thanks to their financial and technological resources. At the international level, companies are not bound by the United Nations Framework Convention on Climate Change or other similar agreements to reduce their emissions. Obligations of this type fall on States, as subjects of international law. Consequently, the need has been identified to establish stricter regulations that directly bind companies to assume specific responsibilities, regardless of whether or not they are subjects of international law. It can be affirmed that the responsible participation of this private sector is crucial to promote a more sustainable future. The present research aims to analyze the multifaceted role of transnational corporations in climate change mitigation.