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Natural environment as stakeholder • ‘Sustainability means running Earth Inc as a corporation keeping the asset whole not undermining the natural capital.’ Adapted quote on page 577 • Industrial pollution with relatively little concern with litigation to or lack of profit to stop companies behaving in that way Sustainability • Brundtland Commission: sustainable business is ‘business that meets the needs of the present without compromising the ability of future generations to meet their own needs’ • Carbon neutral – a balance between carbon dioxide produced and used 6 principles of sustainable success 1. Your business is part of a much larger system 2. The culture of your business is determined by the context you create for it 3. The soul of a business is found in the heart of its people 4 5 True power is living what you know You can’t predict the future but you can create it 6 There is a way to make an idea’s time come From Paul Dolan quoted on page 579 Two themes from Buchholtz and Carroll: Humans are part of the natural environment The environment itself is extremely complex defying simple solutions Top10 environmental issues • • • • • • • • • • Climate change Energy Water Biodiversity and land use Chemicals toxics and heavy metals Air pollution Waste management Ozone layer depletion Oceans and fisheries Deforestation Responsibility for environmental issues • Smog toxic waste acid rain are ‘wicked’ problems by being interconnected: responsibility is difficult to fix • Tragedy of the Commons by Garrett Hardin in Science vol 162 1968 1243-1248 • Nature is a polluter with species extinction (volcanoes) • Page 502 ‘Whose standards will determine what is or is not ethical?’ Possible moral perspectives • Kohlberg’s model of moral development? • Utilitarianism greatest good for greatest number of species? • Golden Rule – ‘Do unto other species as you would have them do unto you’ • Virtue ethics ‘Do I represent the human species at its best? • Ethics of care: natural environment as silent stakeholder? NIMBY- not in my back yard • Community uses ever increasing amounts of electricity but does not want a power plant nearby…. • Avoids or denies the root cause of the problem. • Examples from your own experience? • CERES principles on photocopy, or p605 The Greens • Green consumers: light green consumers via purchases not volunteer action.. Nearly 100% of generation Y (born 1977-1994) received green education in schools • Green employees via pollution prevention recycling energy and environmental audits. UK 2007 survey 69% liked green benefits from employers • Green investors new concern over climate change via stock market, shareholder resolutions: climate change as major concern. Environmental focus is good for profits… Business case for sustainability: Esty and Winston • Innovation and entrepreneurship from sustainability • Downside: society’s wrath (anger) such as Union Carbide. Company size is no defence • The right thing to do –TINA –there is no alternative. Shell: ‘There is no business to be done on a dead planet.’ • Cost benefit analysis but proof? • Triple bottom line: economic social and environmental reporting. • Strategic Environmental Management: Mc Kinsey’s 7s adapted to form green aspects, though the Ss themselves are not altered see figure 15.8 photocopy. But this is strongly internal