Environmental shareholder value. Economic success with corporate environmental management

The links between corporate environmental protection and economic success have been analysed vigorously in several theoretical and empirical studies. Most studies are based on the hypothesis that the amount of environmental protection is somehow - negatively or positively - correlated with the economic success of the company. We argue that the amount of corporate environmental protection per se neither spurs nor reduces shareholder value, which is maybe the most important measure of economic success at present. Moreover, the effect environmental protection exerts on shareholder value is determined by the manner in which corporate environmental management is practised. Referring to the value drivers of shareholder value, we discuss the characteristics necessary to increase shareholder value, or at least to contain any reduction as effectively as possible.

Complexity and Conundrums in Pollution Control:Improving Effectiveness in Regulatory Compliance

The last century has witnessed a dramatic increase in the wealth of European nations and the well being of their inhabitants. The focus has, however, largely been upon economic growth to the detriment of people and the environment. It is only in recent years that governments have taken cognisance of the impacts of our actions and there is a growing realisation that the causal factors must be identified and addressed as a matter of urgency. One of the key problem areas is pollution and as such environmental protection has become increasingly important as a mechanism for safeguarding the quality of air, water and land. This involves a range of activities from setting standards to monitoring and reporting on discharges and emissions, through to the enforcement of legislation. In theory, this is a simple challenge, in practice, it has proven to be an extremely complex equation that might only begin to be addressed through research. In this context it is strange, and alarming, to find that while it is an axiom of good practice that policy is informed by research there has been a dearth of investigation in this field. The purpose of this paper is, therefore, to consider the issue of pollution, how it impacts on the environment, what measures have been established in pursuit of reducing the number of incidences and, most significantly, which strategies might be employed to avoid or ameliorate detrimental impacts.

COMMUNICATION AND GREEK ENVIRONMENTAL ORGANISATIONS: MEANS OF COMMUNICATION AND INFLUENCING FACTORS

A basic operational objective of any environmental organisation is to raise awareness among the public on issues of environmental protection, through the dissemination of knowledge and experience to local communities, so that the conservation and ecologically sound management of natural resources can acquire a local dimension. This can be achieved either through interventions directed at the State, mainly in relation to its legislative function, or by encouraging citizens to change or improve their attitude regarding environmental matters. In order to ensure a successful outcome and the efficient functioning of any organisation, a feeling of mutual trust and understanding should exist between the latter and its various audiences, i.e. the State and society. A basic ingredient of this balance between the organisation, the broader public and the State is effective communication and activity planning. As a way of contributing to the exploration of this process, this paper describes the means of communication used by Greek environmental organisations, and presents, through a non-linear model, the differentiation amongst them, in conjunction with aspects of the profile of those running each organisation and other indicators, such as the years in operation and the membership figures in each sampled organisation. The paper concludes by arguing that the diversification of communication means is related to the head person's years as a member of the organisation and the extent of its total membership. Another important finding is that the more the involvement in activities within the organisation, the less differentiation we observe amongst the employed means of communication.

London 2012 and Climate Change. Examining the potential impact of the current economic crisis in the environmental legacy of the Games

The International Olympic Committee (IOC) declares environmental protection to be the third dimension of the Olympic movement. That, in effect, means that nations wishing to host the Games have to present themselves as reliable practitioners of environmental sustainability (ES) in their applications. The greening of sports mega-events, and the hosting of Olympic Games in particular, is now reasonably well established. Yet evidence from the first decade of environmentally-conscious Olympics points to diverging patterns of achievement in the operationalisation of the IOC’s ‘third pillar’. As is now common knowledge, for example, Sydney 2000 was the first ‘Green Olympics’ in the history of the Games; yet four years later, Athens provided a stark contrast, and was the subject of highly critical assessment reports by environmental organisations. Yet Athens has not stopped the Bid Committee for the Beijing 2008 Games claiming that it would ‘leave the greatest Olympic Games environmental legacy ever’ (UNEP 2007: 26), while the London 2012 promotes the concept of the ‘One Planet Olympics’.

In this context and in light of the current global economic crisis, can we claim that London 2012 has the capacity to fulfil its environmental ambitions? This question is adopted in continuity with similar framed questions that have been posed in relation to the most recent Olympics and it is tackled by adopting an investigative model that is placed within discourses of ‘reflexive modernisation’.

Pitfalls in Protection: How Theory Can Enrich Our Understanding of Regulatory Compliance Problems in Planning Practice

This paper responds to demands for greater academic investigation into environmental protection, specifically the practical and structural problems which underpin regulatory compliance in the planning system. It critiques traditional theories of regulation and answers calls for the development of a thematic lens to facilitate the scrutiny of not only operational practice, but also the broader institutional regime. An empirical investigation builds upon the construct of really responsive regulation to study planning control and it becomes apparent that not only are there significant procedural planning difficulties facing regulatory compliance, but also that a much wider raft of issues must be considered if the complex equation is to be solved. The findings demonstrate how theory can be applied to enrich our rudimentary understanding of deep-seated problems and foster insights into areas of structural importance which are relevant to both planning and the wider regulatory arena.

The frequency of Environmental Quality Standard (EQS) exceedance for chlorinated organic pollutants in rivers of the Humber catchments

The southern industrial rivers (Aire, Calder, Don and Trent) feeding the Humber estuary were routinely monitored for a range of chlorinated micro- organic contaminants at least once a week over a 1.5-year period. Environmental Quality Standards (EQSs) for inland waters were set under the European Economic Community for a limited number of problematic contaminants (18). The results of the monitoring program for seven classes of chlorinated pollutants on the EQS list are presented in this study. All compounds were detected frequently with the exception of hexachlorobutadiene (where only one detectable measurement out of 280 individual samples occurred). In general, the rivers fell into two classes with respect to their contamination patterns. The Aire and Calder carried higher concentrations of micro- pollutants than the Don and Trent, with the exception of hexachlorobenzene (HCB). For Σ hexachlorocyclohexane (HCH) isomers (α + γ) and for dieldrin, a number of samples (~ 5%) exceeded their EQS for both the Aire and Calder. Often, ΣHCH concentrations were just below the EQS level. Levels of p,p'- DDT on occasions approached the EQS for these two rivers, but only one sample (out of 140) exceeded the EQS. No compounds exceeded their EQS levels on the Don and Trent. Analysis of the ratio of γ HCH/αHCH indicated that the source of HCH for the Don and Trent catchments was primarily lindane (γHCH) and, to a lesser extent, technical HCH (mixture of HCH isomers, dominated by α HCH), while the source(s) for the Aire and Calder had a much higher contribution from technical HCH.

A Conventional Internal Combustion Engine Versus a Range Extended Electric Vehicle Under the Current Regulatory Regime in the United Kingdom

Transport accounts for 22% of greenhouse gas emissions in the United Kingdom and cars are expected tomore than double by 2050. Car manufacturers are continually aiming for a substantially reduced carbonfootprint through improved fuel efficiency and better powertrain performance due to the strict EuropeanUnion emissions standards. However, road tax, not just fuel efficiency, is a key consideration of consumerswhen purchasing a car. While measures have been taken to reduce emissions through stricter standards, infuture, alternative technologies will be used. Electric vehicles, hybrid vehicles and range extended electricvehicles have been identified as some of these future technologies. In this research a virtual test bed of aconventional internal combustion engine and a range extended electric vehicle family saloon car were builtin AVL’s vehicle and powertrain system level simulation tool, CRUISE, to simulate the New EuropeanDrive Cycle and the results were then soft-linked to a techno-economic model to compare the effectivenessof current support mechanisms over the full life cycle of both cars. The key finding indicates that althoughcarbon emissions are substantially reduced, switching is still not financially the best option for either theconsumer or the government in the long run.

Dilute acid hydrolysis of cellulose and cellulosic bio-waste using a microwave reactor system

The dilute acid hydrolysis of grass and cellulose with phosphoric acid was undertaken in a microwave reactor system. The experimental data and reaction kinetic analysis indicate that this is a potential process for cellulose and hemi-cellulose hydrolysis, due to a rapid hydrolysis reaction at moderate temperatures. The optimum conditions for grass hydrolysis were found to be 2.5% phosphoric acid at a temperature of 175 degrees C. It was found that sugar degradation occurred at acid concentrations greater than 2.5% (v/v) and temperatures greater than 175 degrees C. In a further series of experiments, the kinetics of dilute acid hydrolysis of cellulose was investigated varying phosphoric acid concentration and reaction temperatures. The experimental data indicate that the use of microwave technology can successfully facilitate dilute acid hydrolysis of cellulose allowing high yields of glucose in short reaction times. The optimum conditions gave a yield of 90% glucose. A pseudo-homogeneous consecutive first order reaction was assumed and the reaction rate constants were calculated as: k(1) = 0.0813 s(-1); k(2) = 0.0075 s(-1), which compare favourably with reaction rate constants found in conventional non-microwave reaction systems. The kinetic analysis would indicate that the primary advantages of employing microwave heating were to: achieve a high rate constant at moderate temperatures: and to prevent 'hot spot' formation within the reactor, which would have cause localised degradation of glucose.

Prediction of bisolute dye adsorption isotherms on activated carbon

The removal of acid dyes, Tectilon Blue 4R, Tectilon Red 2B and Tectilon Orange 3G, from single solute, bisolute and trisolute solutions by adsorption on activated carbon (GAC F400) has been investigated in isotherm experiments. Results from these experiments were modelled using the Langmuir and Freundlich adsorption isotherm theories with the Langmuir model proving to be the more suitable. The Ideal Adsorbed Solution (IAS) model was coupled with the Langmuir isotherm to predict binary adsorption on the dyes. The application of the IAS theory accurately simulated the experimental data with an average deviation of approximately 3% between modelled and experimental data.