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COMM 216 > 13.5: Businesses' Response to Environmental Issues > Flashcards

13.5: Businesses' Response to Environmental Issues Flashcards

1
Q

What are some factors forcing businesses to respond to environmental issues?

A

Government regulations

Pressure from environmental NGOs

Market environmentalism

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2
Q

How can businesses address environmental issues in their organizational structure?

A

Create management positions and committees to address environmental matters

Involve top management, including boards of directors

Ensure practical principles for environmental integration and operations

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3
Q

What are common titles for senior managers focusing on environmental matters?

A

Vice-President, Environment

Environmental Director

Corporate Manager of Environmental Affairs

Environmental Coordinator

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4
Q

Why is finding appropriate individuals for environmental positions challenging?

A

It requires a combination of managerial and technical expertise, including knowledge in areas like hydrogeology and site remediation engineering.

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5
Q

What are the four strategic approaches to environmental concerns for businesses?

A

Reactive
Compliance
Comprehensive
Commitment

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6
Q

Describe the reactive strategy for environmental concerns.

A

A focus on damage control, addressing problems only as they arise. This strategy is not recommended due to increased environmental attention.

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7
Q

What does the compliance strategy focus on?

A

Ensuring the corporation adheres to laws and regulations to avoid lawsuits and prosecution.

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8
Q

How does the comprehensive environmental management strategy differ from reactive or compliance strategies?

A

It integrates environmental management into all aspects of corporate operations and aims for a competitive advantage.

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9
Q

What is the commitment strategy for environmental concerns?

A

It integrates sustainable development into business strategies, focusing on long-term environmental and stakeholder needs.

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10
Q

What are environmental management systems (EMS), and why are they important?

A

Comprehensive policies and programs that ensure environmental practices are integrated into the corporation’s strategy for long-term success.

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11
Q

Why should corporations plan strategically for environmental issues?

A

To establish long-term goals, identify opportunities to reduce environmental impacts, and leverage these opportunities for competitive advantage.

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12
Q

What are some convincing reasons for corporations to respond to environmental concerns, as per the Network for Business Sustainability?

A

Reducing costs

Meeting investor demands

Facilitating regulatory compliance

Mitigating operational risks

Attracting top talent

Meeting consumer demand for “green” products and services

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13
Q

What environmental factors are now included in financial management?

A

Accounting guidelines for liabilities to restore capital assets to environmentally sound conditions.

Eco-insurance products addressing environmental liability.

Environmental assessments in banking to determine financial performance and liability.

Screening investments for environmental performance using indices like DJSI and Renewable Energy Index.

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14
Q

How can shareholders influence environmental financial management?

A

Submit resolutions at annual meetings.

Argue that environmental risks increase financial risks.

Use mechanisms like boycotts, protests, lawsuits, or sit-ins to raise awareness of poor environmental records.

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15
Q

What is the Carbon Disclosure Project (CDP)?

A

An independent, non-profit organization that collects corporate climate change data to:

Reduce greenhouse gas emissions.

Promote sustainable water use.

Mitigate environmental risks in corporate supply chains.

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16
Q

What information does the CDP provide, and to whom?

A

Provides data on greenhouse gas emissions to investors, corporations, public-sector organizations, academics, and the public.

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17
Q

What new areas did the CDP include in its 2021 strategy?

A

Biodiversity

Plastics in oceans

Interconnectedness of natural environments with Earth’s systems

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18
Q

What are the key responsibilities of the Ontario Securities Commission (OSC) under National Instrument 51-102?

A

Require public corporations to disclose environmental information, such as:

Environmental liabilities

Asset retirement obligations

Financial and operational effects of environmental risks

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19
Q

What were the findings of the Canadian Securities Administrators (CSA) review in 2017 on climate-change-related disclosure?

A

Materiality determines whether information must be disclosed.

Wide variation in disclosure practices.
Users dissatisfied with the state of disclosures.

Concerns about regulatory burden and overemphasis on climate risks.

20
Q

What actions will the CSA take based on the 2017 review findings?

A

Develop new guidance and educate users.

Introduce new disclosure requirements for climate-related risks.

Monitor climate-change-related disclosure practices.

21
Q

What is green marketing?

A

Selling environmentally friendly goods and services to consumers, often providing new opportunities to make money.

22
Q

What are examples of green products?

A

Liquid soap with refillable pouches.

Coffee filters without bleach.

Recyclable or degradable trash bags.

Phosphate-free dishwasher detergent.

Foam plates and cups without chlorofluorocarbons (CFCs).

23
Q

What are the “Four Rs” of environmentally friendly packaging?

A

Reduce, Reuse, Recycle, Recover.

24
Q

What are eco-labels?

A

Certifications that indicate a product meets environmental standards. Examples include the Canadian EcoLogo, ENERGY STAR, and Fairtrade Canada Logo.

25
Q

What does the Canadian EcoLogo (Environmental Choice) signify?

A

Products/services that meet strict environmental standards throughout their life cycle, from manufacturing to disposal.

26
Q

What is the purpose of the ENERGY STAR label?

A

Identifies energy-efficient products on the market.

27
Q

What does the Marine Stewardship Council (MSC) Certification Logo indicate?

A

The product comes from fisheries certified for sustainable fishing practices.

28
Q

What does the Möbius loop indicate?

A

The product/packaging is recyclable, contains recycled content, or both.

29
Q

Why are third-party certifications important for eco-labels?

A

They verify environmental claims and ensure consumers are not misled about environmental performance.

30
Q

What factors influence consumer behavior towards green products?

A

Attributes like “safe and gentle” (baby shampoo) and “strong and tough” (car shampoo).

The impression of being environmentally conscious.

Preference for cost-saving advertisements over environmental benefits.

31
Q

How do eco-friendly policies influence recruitment and retention in workplaces?

A

Prospective employees are increasingly asking about employers’ environmental practices.

Environmentally friendly workplaces help attract and retain employees, especially in tight job markets.

32
Q

Why are green workplaces important for employee retention?

A

Employees satisfied with their employer’s environmental policies are less likely to leave for greener workplaces.

33
Q

What are some practices to create a green workplace?

A

Implementing recycling programs for office supplies.

Using energy-efficient lighting and equipment.

Reducing paper and packaging use.
Promoting walking, biking, and carpooling.

Creating pesticide-free green landscapes.

Reducing travel emissions through virtual meetings.

Purchasing renewable energy credits.

34
Q

How can management encourage eco-friendly behavior among employees?

A

Publicly disclose sustainability initiatives.

Provide incentives for environmentally friendly behavior.

Form employee committees to advise on green practices.

35
Q

What are the benefits of a green workplace for employers?

A

Improved employee morale.

Stronger public image.

Increased consumer confidence.

Positive financial performance.

Healthier employees.

36
Q

What barriers can hinder the adoption of green workplace policies?

A

High implementation and maintenance costs.

Lack of top management support.

Low employee commitment.

Concerns about productivity.

37
Q

What can management do to ensure the success of green workplace initiatives?

A

Develop clear environmental policies.

Communicate these policies effectively to employees.

Encourage participation in eco-friendly initiatives.

38
Q

What is GoodWork Canada, and why is it relevant to green employment?

A

A job site that specializes in environment-related employment, highlighting the demand for skills in green sectors.

39
Q

What are three areas of activity businesses focus on to integrate environmentally friendly processes?

A

Pollution reduction

Waste management and recycling

Energy conservation

40
Q

What is the Canada Green Building Council’s (CaGBC) mission?

A

To lead the transformation to high-performing, healthy green buildings, homes, and communities in Canada by developing best design practices and advocating for green construction.

41
Q

What is the Leadership in Energy and Environmental Design (LEED) system?

A

A third-party certification program that benchmarks the design, construction, and operation of high-performance green buildings.

42
Q

What are key areas addressed by the LEED Green Building Rating System?

A

Location and transportation

Sustainable site development

Water savings

Energy efficiency

Materials selection

Indoor environmental quality

43
Q

What are common sources of pollution mentioned in the text?

A

Aerosols

Hydrocarbons

Automobile exhaust

Untreated sewage

Pesticides

Packaging waste

44
Q

How can businesses and governments address waste management challenges?

A

Reuse waste from manufacturing as inputs for other products.

Focus on recycling and retrieving materials like paper, glass, and plastics.

45
Q

What is Step Forward Paper™?

A

A revolutionary FSC-certified copy paper made of 80% wheat straw waste and 20% wood fiber, co-founded by Jeff Golfman and Woody Harrelson.

46
Q

What are challenges faced by recycling initiatives in Canada?

A

Overcapacity of recycling facilities due to high waste disposal rates.

Slow market growth for recycled materials.

47
Q

How can businesses reduce energy consumption?

A

Construct energy-efficient buildings.

Market energy-efficient goods and services.

Introduce products that enable consumers to conserve energy.

COMM 216 (30 decks)

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