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

4True power is living what you know 5You can’t predict the future but you can create it 6There 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 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 ) 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