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Sustainability Issues: Environmental Strategies for Business

Explore the nature of sustainability and the various environmental challenges faced by businesses. Learn about the impact of environmental policy and regulations and discover a strategic approach to address these issues. This chapter highlights the importance of sustainability in maintaining the long-term well-being of the natural environment and provides insights into incorporating environmental concerns into business strategies.

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Sustainability Issues: Environmental Strategies for Business

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  1. CHAPTER 11 Sustainability Issues

  2. Chapter Objectives • To define the nature of sustainability as it relates to social responsibility • To explore a variety of environmental issues faced by business and society • To examine the impact of environmental policy and regulations • To discuss a strategic approach to respond to environmental issues

  3. Sustainability • Sustainability is the potential for long-term well-being of the natural environment, including all biological entities, as well as the interaction among nature and individuals, organizations, and business strategies. • Sustainability includes the assessment and improvement of business strategies, economic sectors, work practices, technologies, and lifestyles while maintaining the natural environment.

  4. Global Environmental Issues • Natural environment • The physical world, including all biological entities as well as the interaction among nature, individuals, and organizations • Protection of air, land, biodiversity, water, and renewable natural resources • Increasingly, companies are incorporating environmental issues into their overall business strategies

  5. Biodiversity • Deforestation, pollution, development, and urban sprawl have put increasing pressure on wildlife, plants, and their habitats. • Many ecologists believe that the loss of species threatens the success of entire ecosystems.

  6. Environmental Protection Agency (EPA) • The most influential regulatory agency that deals with environmental issues and enforces environmental legislation • Protects Americans from significant health risks in their work environment • Manages environmental risks • Is an integral part of U.S. policy • Contributes to diverse, sustainable, and economically productive communities and ecosystems • Enforces laws and provides information • Plays a leadership role in dealing with other countries’ environmental policies

  7. Environmental Legislation • Clean Air Act • Federal Insecticide, Fungicide, and Rodenticide Act • Endangered Species Act • Toxic Substances Control Act • American Clean Energy Act

  8. Environmental Legislation • Emergency Planning and CommunityRight-to-Know Act • Toxic Release Inventory • Pollution Prevention Act • Food Quality Protection Act

  9. Alternative Energy • Alternative energy sources reduce global carbon emissions and our dependence on traditional energy sources.

  10. Business Response to Environmental Issues • Green marketing is specific development, pricing, promotion, and distribution of products that produce less harm to the environment.

  11. Other Environmental Initiatives • Emissions reduction • Socially responsible buying

  12. Stakeholder Assessment • A process requiring acknowledging and actively monitoring the environmental concerns of all legitimate stakeholders

  13. Risk Analysis • An analysis performed by a company to identify environmental issues that relate to manufacturing, marketing, consumption, and usage patterns associated with its products

  14. The Strategic Environmental Audit • Organizations conduct an independent audit and report the results to all interested stakeholders. • Organizations developed ISO 14000 as a comprehensive set of environmental standards that encourage a cleaner, safer, healthier world.

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