Download Environmental Regulation and Policy: An Overview of Key Terms and Concepts and more Quizzes Business Ethics in PDF only on Docsity!
Major Areas (3) of Envt
Regulation
- WATER: when more waste is dumped in waterways than can be naturally diluted. 2. AIR: occurs when pollutants are emitted in the atmosphere, can't be safely absorbed. 3. LAND: contamination by both solid and hazardous waste. TERM 2
Toxic Substances Control Act (1976)
DEFINITION 2 Est to regulate, restrict, and and ban toxic chemicals if necessary. TERM 3
Clean Air Act amendments (1977)
DEFINITION 3 Revised air standards TERM 4
Comprehensive Environmental Response
Compensation and Liability Act (1980 and
DEFINITION 4 Established superfund and procedures to clean up hazardous waste sites. TERM 5
Clean Water Act amendments (1987)
DEFINITION 5 Authorized funds for sewage treatment plants and waterways cleanup.
Superfund (created by Comprehensive
Environmental Response Compensation and
Liability Act)
A fund supported primarily by a tax on petroleum and chemical companies that were presumed to have created a disproportionate share of toxic wastes. EPA est. a National Priority List of cleanup sites Entire cleanup could cost $ trillion TERM 7
Alternative policy: Market-based
mechanisms
DEFINITION 7 Based on idea that the market is a better control than expensive standards that specify precisely what companies must do. -Allow businesses to buy and sell the right to pollute -Emission charges or fees -Government incentives TERM 8
Alternative policy: Information
Disclosure
DEFINITION 8 Regulation by publicity Govt encourages companies to pollute less by publishing info about the amount of pollutants individual companies emit each year. TERM 9
Alternative policy: Civil and Criminal
Enforcement
DEFINITION 9 -Threat of prison or fines -US Sentencing Commission has est guidelines for sentencing envt wrongdoers. TERM 10
Solid Waste Issue
DEFINITION 10 5 lbs/person/day generated 40% is recycled; the rest goes to landfills Includes hazardous household materials
Costs and Benefits of Envt
Regulation
COSTS: -$160 billion spent by companies in the US in 2000. - Job loss in some particularly polluting industries. - Competitiveness impaired. BENEFITS: -Emissions have dropped since 1970. -Air and water quality improved; natural beauty preserved. -Growth of other industries (envt-friendly products, services) TERM 17
Stages of Corporate Envt Responsibility
DEFINITION 17
- Pollution Prevention: minimize/eliminate waste before it is created. 2. Product Stewardship: Focus on envt impact of full life-cycle of a product. 3. Clean Technology: Develop innovative, new technology that supports sustainability. TERM 18
Elements of a Proactive Green Company (envt
mgmt in practice)
DEFINITION 18
- Top mgmt involvement in sustainability 2. Line mgr involvement 3. Codes of envt conduct 4. Cross-functional teams 5. Rewards and incentives TERM 19
Competitive Advantages of Envt Mgmt
DEFINITION 19
- Cost Savings: Solvent reduction, energy efficiency. 2. Product Differentiation: Attract envt aware customers. 3. Technological Innovation: New methods that increase efficiency. 4. Strategic Planning: Vision of sustainability.
