Good Works, Good Business or Greenwash?
Chapter 8: Conclusion
Many think the term ‘business environmentalism’ is an oxymoron. Business does not take care of the environment, but it will despoil it at will for profit if not restrained by regulation. In this picture, business environmentalism is a misleading, indeed fraudulent, distraction and deception. Certainly, supporting evidence can be found. We now know that while BP was loudly proclaiming itself to be a green energy company – going ‘beyond petroleum’,1 complete with a blooming flower logo – at the same time it was running serious risks in its deepwater drilling operations, risks which have now certainly contributed to the worst oil spill in US history. GE loudly proclaims that its Ecomagination program will bring forth a whole new generation of profitable green products and services,2 yet it has spent a generation and untold money litigating and negotiating furiously to avoid cleaning up the long stretch of the Hudson River that it has contaminated with PCBs. The chemical industry touts the environmental and safety contributions of its ‘Responsible Care’ program, while objective empirical analysis finds that companies that participate in the program have poorer environmental performance than those that do not. Environmentalism indeed. Yet, the contrasting view enjoys equally committed support, again with some real evidence. Beyond specific successes already achieved, there is a great need to do what only business can do. Only business has the energy, the resources, and the incentives to lead a transition to sustainability. Regulation has achieved some environmental protection success, but it will not be...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.