Environmental management systems implementation

All organisations make some contribution to the degradation of the environment through their use of resources and production of waste. Environmental management systems (EMS) standards can provide a tool for companies to systematically reduce their environmental impacts. ISO 14001 was published in 1996. This fitted in with plans of the case study company to take proactive action in this area, even though there was no legislative requirement for them to do so. As EMS implementation was a new area at the time, appropriate methodologies were developed to address different aspects of the implementation, and ISO 14001 was successfully implemented in the company. The results of the primary research included: ♦ Drawing up a methodology for identifying and interpreting the environmental legislation that may have an impact on the organisation and compiling a register of such regulations. ♦ Developing a robust methodology for assessing significant environmental aspects and impacts and applying this to the software company. ♦ Establishing objectives and targets for those aspects identified as significant and implementing environmental management programmes to meet these. ♦ Developing an internal environmental audit procedure based on auditing against the significant aspects. ♦ Integrating areas of the EMS with the existing quality management system in order to avoid duplication of effort. ♦ Undergoing an external assessment process in order to achieve certification of the system. The thesis concludes that the systematic approach defined in ISO 14001 provided a mechanism that the organisation was able to adopt to bring about improvement in its environmental performance. The system was based on a thorough evaluation of the organisation's significant environmental aspects in order to bring about a reduction in its negative impacts. The ISO 14001 requirement for continual improvement is the key driver of the system, and this is what differentiates it from ISO 9000.

The concept of risk management in the renewable sector.

This study explores the perception of risk and the level of risk management implementation in the renewable sector. Risk management is emerging as a key issue due to the loss of confidence amongst banks, causing the attainment of financing to be difficult over the next few years. To attract financing, there is a fundamental requirement to manage risk in a way that minimizes the probability of a negative financial impact on the project. Miller and Lessard (2001) argue that successful projects are not selected but shaped with risk resolution in mind. Rather than evaluating projects at the outset based on projections of the full set of benefits, costs and risks over their lifetime, successful developers start with project ideas that have the potential of becoming viable. Therefore, this study bridges the gap that exists within the renewable sector in relation to risk management literature. This study succeeds through a detailed comparative case study analysis where two developers and two financiers were questioned through qualitative semi-structured interviews on the concept of risk management and its level implementation within the industry. It is believed that the growth in financed renewable energy projects depends on the adequate design and implementation of risk management to mitigate inherent project risks. However, this study revealed that are certain types of developers in existence within the renewable sector, which underestimate the magnitude of risk and view the development of projects as a ‘money racket’. Therefore, it can be concluded that perception of risk will also differ, causing risk and uncertainty to vary from project to project, resulting in investment reluctance to be associated with certain projects. The study originality lies in how it demonstrates to developers the concept of risk management, outlining the simplicity and benefits of implementing it in project development. Finally, this study contributes to the knowledge by enhancing the awareness and understanding of the presence and nature of risk in a RE project environment.