Enhancing Global Competitiveness through Sustainable Environmental Stewardship

Enhancing Global Competitiveness through Sustainable Environmental Stewardship

New Horizons in International Business series

Edited by Subhash C. Jain and Ben L. Kedia

It is apparent that environmental issues affect the livelihoods and well being of individuals, communities and businesses the world over. In that vein, this book examines the impact that climate change and other environmental factors have on business. The effect of climate change, while a significant factor, will influence business slowly, but inexorably. Executives should manage environmental risk at three levels: regulatory compliance, potential liability from industrial accidents, and pollutant release mitigation.

Preface

Edited by Subhash C. Jain and Ben L. Kedia

Subjects: business and management, international business, environment, corporate social responsibility

Extract

In recent years, the concept of climate change has received growing recognition. It is no more a reserve of scientists and political activists. It has become a mainstream discussion. It is now widely accepted that Earth is warming; to a large extent it is a result of the emission of greenhouse gases resulting from mankind’s activities; and it has significant impact for Earth’s environment. It is recognized that climate change is a global problem that requires a global approach to resolve it. In the world of global business, climate change has evolved from being a fringe issue to a strategic concern that requires high level deliberations and decision-making. More and more multinational enterprises (MNEs) have come to accept that the issue of climate change goes beyond the focus on a firm’s brand and its social responsibility. While climate change could pose enormous problems for some MNEs, it also offers huge potential for innovation leading to new products and services. Firms that recognize the challenge early, and respond imaginatively and constructively will create opportunities for themselves and thereby prosper. Others, slower to realize what is going on or electing to ignore it, will likely do markedly less well. Considering the importance of the climate change issue, the Centers for International Business Education and Research (CIBERs) at the University of Connecticut and the University of Memphis decided to organize a two-day by-invitation-only conference from 14–16, May 2009. The conference was held at the main campus of the University of Connecticut in...