Business Finance
Environmental Law and Leveraging Greenness

Question Description

Describe a business owner’s / executive’s obligation to do more for the environment than the law requires, summarize the value of knowing about environmental law. How companies can benefit by making customers aware of environmental laws. 

Final Answer

The law defines environmental information as information relating to the state of the environment, including elements of the environment such as air, water, soil and landscape. This also includes information on anything released into the environment (noise, energy or waste as well as substances), information on legislation, policies and plans relating to the environment and analysis of their likely effects, and information on human health and safety, including food safety where it is affected by the environment.

Running an environmentally friendly business helps you reduce your impact on the environment and preserves natural resources. Your business can help the environment in many ways. For example, you can:

  • use products that reduce your reliance on natural resources (e.g. rainwater tanks, solar hot water systems)
  • use products that are made from recycled material (e.g. office supplies made from recycled plastic, furniture made from recycled rubber)
  • look at all your business activities to see if you can do anything differently (e.g. reducing air travel by holding conference calls instead of interstate meetings).

Making your business environmentally friendly not only benefits the environment but can also save you money.

Recycling reduces your costs

Avoiding, reducing, reusing and recycling can lower your costs. For example, a few simple changes to how you deal with paper can involve your staff in environmentally friendly processes while saving you money:

  • avoid using materials unnecessarily
  • reduce your paper needs by asking staff to print double-sided
  • reuse by encouraging staff to use scrap paper for message-taking instead of purchasing message pads
  • recycle by shredding excess paper - you could recycle this commercially or invite staff to take it home for their compost or mulch heaps.

Good practice can attract new customers

Promoting your environmentally friendly methods can set your business apart from your competitors and attract new customers who want to buy products and services from an environmentally friendly business.

Robert__F (45614)
New York University

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