Multinational Corporations and Environmental Conservation in Least Developed Countries: Case Study of Ethiopia

Abstract

The debate on the environment has been ongoing for quite a while now since the 1972 Stockholm Conference that consequently necessitayed the formation of the UNEP. There has been concerted effort across the globe calling on everyone to push forward the environmental conservation agenda. International treaties, agreements, institutions and policies have been formulated to run and oversee various initiatives aimed at protecting and enhancing environmental sustainability. The United Nations Organization spearheads the campaign through the UNEP which coordinates and evaluates efforts by different stakeholders to ensure the attainment of the United Nations SDGs which replaced MDGs. This research is focused on analyzing the efforts on environmental conservation with a closer look into such efforts and policies in Least Developed Countries (LEDCs). Multinational Corporations are key drivers of economic liberalization in the context of globalization and as thus, many countries, including LEDCs, have opted for their investments. However, these Multinational Corporations have positive as well as negative impact in the host country that they invest in. Ethiopia having being recorded as one of the least developed countries by the United Nations opened its doors for foreign investment and as a result, a number of Multinational Corporations have invested in Ethiopia. These Multinational Corporations have in one way or another caused adverse effects on Ethiopia‟s environment. To curb these effects the Ethiopian government has enforced policies in line with the international laws to protect its environment. However, despite the presence of policies to protect the environment, MNCs still pose a threat to the environment all over the world especially in areas where they operate, and in this case, Ethiopia.. This research will thus delve into the efforts and strategies used by Multinational Corporations to protect Ethiopia‟s environment in collaboration with other stakeholders.