International Legal Regimes On Trade and Environment
ICSE · Class 11 · Environmental Science
Quick revision notes for International Legal Regimes On Trade and Environment — ICSE Class 11 Environmental Science. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
1. International legal regimes and their role
- International legal regimes organise international cooperation through rules, norms, and decision-making procedures.
- They regulate activities linked to the environment, trade, natural resources, and specific geographical areas.
- Trade regimes emphasise scientific risk assessment, market access, and non-discrimination.
2. GATT and WTO
- GATT stands for General Agreement on Tariffs and Trade.
- GATT was signed by 23 nations in Geneva on 30 October 1947 and came into force on 1 January 1948.
- Its main aim was to reduce tariffs, reduce trade barriers, and remove discriminatory trade preferences on a reciprocal basis.
3. Transnational corporations and environmental impact
- Transnational Corporations are non-governmental, stateless corporations that own or control production in countries other than their country of origin.
- A TNC has its headquarters in one country and subsidiaries or branches in other countries.
- TNCs operate across national borders to expand markets, access resources, and increase profitability.
4. Case studies: Exxon Valdez and BP Deepwater Horizon
- The Exxon Valdez oil spill occurred in Prince William Sound, Alaska, on 24 March 1989 when the oil tanker Exxon Valdez ran aground on Bligh Reef.
- It released 11 million US gallons of crude oil into the marine environment.
- The oil spread over 1,300 miles or 2,100 km of coastline and contaminated about 11,000 square miles or 28,000 km2 of ocean.
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