Sustainable practices in economic interactions: Addressing the legislative framework


M.V. Alex*

We examined four distinct categories of legal principles embedded within the framework of natural resources management law: overarching legal principles, principles exclusive to natural entities but not solely limited to their utilization, introductory provisions exclusively focused on the entitlement to utilize natural entities, and principles inherent in the right to use specific primary natural entities. Upon scrutinizing the natural resource legislation within the context of natural resources management law, it became evident that not all of these principles held equal significance as primary instruments of legal governance. The principles encompassing the derivation of usage rights from ownership, the sustainability of usage rights for natural resources, the intended utilization of natural resources, and the compensation principle for natural resource utilization have attained greater elaboration within the existing legislation. It is substantiated that prevailing normative legal statutes governing the domain of natural resources management perceive natural entities as intricate ecological formations, each playing an integral role in the natural environment's intricate interplay with other components, ensuring their coexistence, as well as fostering economic, environmental, and societal well-being.

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