13.8: The Environment: Corporate Opportunities and Challenges Flashcards
What benefits do organizations gain by addressing environmental issues?
Enhanced reputation and marketplace prominence.
Attracting customers, investors, and competent staff.
Reduced costs through recycling, pollution control, energy conservation, and lower insurance premiums.
What is the Corporate Knights’ Clean200?
A list of the 200 cleanest corporations based on a “carbon-free” definition, excluding companies involved in fossil fuels and industries such as gambling, child labor, and farm animal welfare violations.
What are some Canadian companies included in the 2019 Clean200 list?
Bombardier Inc.
Canadian National Railways Co.
Telus Corp.
WSP Global Inc.
What opportunities arise for businesses addressing environmental concerns?
Developing new technologies or expertise (e.g., water and air pollution control equipment).
Providing environmental services like waste management and laboratory research.
Enhancing profitability by improving environmental performance.
What challenges might organizations face if they ignore environmental issues?
Deteriorating image and revenue loss.
Difficulty attracting investors.
Increased material and production costs.
Legal responsibility for pollution and higher insurance premiums.
What is the difference between a linear economy and a circular economy?
Linear economy: Resources are used once and discarded, leading to waste.
Circular economy: Resources are reused, repaired, refurbished, and recycled in a closed loop to preserve value.
What practices are part of a circular economy?
Efficient resource utilization.
Designing goods to eliminate waste and increase reusability.
Energy use from renewable sources.
Offering programs to trade in, repair, and resell products.
What is Extended Producer Responsibility (EPR)?
A concept requiring businesses to assume financial and operational responsibility for the efficient use and recovery of resources.
What is the mission of the Circular Economy Leadership Coalition (CELC)?
To make Canada a leader in building a sustainable, low-carbon, zero-waste economy by aligning environmental and economic priorities.
Give examples of companies implementing circular economy practices.
Unilever Canada: Transforming plastic packaging use by 2025.
IKEA Canada: Transitioning to renewable energy, sustainable materials, and efficient water use.
Why is the shift to a circular economy important for organizations?
To address resource scarcity, reduce environmental damage, and align with societal demands for sustainable development.
