Union Carbide India Limited was a chemical company established in the year 1934.
On December 3rd, 1984, toxic chemical gases leaked from the Union Carbide plant in Bhopal, India. As a result of this, thousands of people had died. Even years after the gas leak occurred, toxic chemicals continue to pollute the groundwater, thus affecting the lives of the people who depend on it. It had also resulted in creating numerous problems for the residents of Bhopal, who faced chronic illness, growth retardation, weakened immune systems, high miscarriage rates, etc.
Following the tragedy, the government took control of the plant and the rest of the company’s assets. The Union Carbide corporation was compelled to pay hundreds of millions of dollars in compensation as a result of its negligence with regard to safety measures.
The lack of business ethics is a major issue in India. The business corporations tend to have poor environmental practices, polluting surroundings by dumping waste materials at the risk of the health of society. Firms should be responsible for how the use of their products affects society around them and try to minimize the negative externalities of their business activities. In the words of Edward Freeman, unless a business pays attention to the quality of life in the community and issues that have corporate responsibility it cannot be successful.
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