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Unit 8 The Eco-Environment

This unit covers key eco-environmental issues organizations face, including economic impacts and stakeholder theory. It discusses the role of the EU in eco-policies, eco-economic concepts like Total Economic Value, and various environmental control mechanisms. Additionally, it highlights the influence of market mechanisms and pressure groups on industry responses to these issues.

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Hương Nguyễn
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9 views12 pages

Unit 8 The Eco-Environment

This unit covers key eco-environmental issues organizations face, including economic impacts and stakeholder theory. It discusses the role of the EU in eco-policies, eco-economic concepts like Total Economic Value, and various environmental control mechanisms. Additionally, it highlights the influence of market mechanisms and pressure groups on industry responses to these issues.

Uploaded by

Hương Nguyễn
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Unit 8

The eco-environment
LEARNING OUTCOMES
Following the completion of this unit you should be able to:
• Describe the key eco-environmental issues currently
facing organisations.
• Analyse eco-environmental issues in terms of their
economic impact.
• Discuss the relevance of stakeholder theory and
corporate responsibility to eco-environmental issues.
• Assess the impact of market mechanisms and pressure
groups on organisations, in relation to eco-environmental
issues.
Key eco-environmental issues

The key issues outlines in the above table are based on Budge et al, 2004)
Key concepts
• “polluter pays”

• uncertainty and the “precautionary


principle”

• Sustainable development
The EU and eco-environmental
issues
• Cross-border pollution

• Eco-policies and trade

• Current politics and eco-environmental


issues
Eco-economic concepts
• The eco environment and the economy
• Index of sustainable economic welfare
• Total economic value
– Use value
– Option value
– Existence value
TEV = UV + OV +EV
Figure 8.1: GNP and ISEW for the UK since 1950 (Griffiths and
Wall, 2004)
Tools available to governments

• Legislation

• Taxes

• Tradeable permits

• ‘Polluter pays’ versus ‘sufferer pays’


Stakeholder theory and corporate
responsibility
• Social obligation

• Social responsibility

• Social responsiveness
Market mechanisms and pressure
groups
• Increased environmental awareness

• Pressure groups
•
• Greenpeace
– Friends of the Earth
– WWF
– Compassion in World farming
Industry responses
Summary
• Key eco-environmental issues
• Key concepts:
– polluter pays, precautionary principle
• EU and environmental policy
• Eco-economic concepts:
– Index of Sustainable Economic Welfare
– Total Economic Value
• Environmental control mechanisms:
– regulation, taxes, tradeable permits
• Public awareness and pressure groups
• Industry responses

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