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Canada (162,366)
Management (865)
MGM102H5 (217)
Chapter 2

Chapter 2 Sustainability

7 Pages
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Department
Management
Course Code
MGM102H5
Professor
Nathan Innocente

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Description
Chapter 1 Environmental stewardship: integration of sustainability into managing of envronmental resources. • Due to no regulations, businesses would bury waste without thinking of the future generation or biological impacts. th • From the 20 century people and governments have started becoming more aware of the environmental impacts of the poor resource management and governments have begun to create minimum levels of regulatory envronmental compliance • Because of the unexpected costs, businesses have started to incorporate in eco- management initiatives into business practices. Started basic levels of conservation such as pollution prevention, recycling and environmental health and safety assessment Environment degradation: deteriotion of the environment through depletion of environment and destruction of ecosystems • Redesign business processess in a way that environment conservation and resource sustainability is practised along with increased weath and enhanced competitive advantage. environmental conservation has to be has to be integrated into core mission, vision, values, codes of conduct and business system. • Successful development of an economy should no longer be measured by gdp and domestic consumption growth but has to include additional measure such as sustainable use of resources, energy conservation, environmental restoration, waste reduction, safe water disposal practices, public education about environmental stewardship. 5 great sustainability challenges: 1) Climate Change 2) Pollution and Health 3) Energy Crunch 4) Resource Depletion 5) Capital squeeze Climate Change: (improving energy efficiency, decarbonizing energy supply, transportation innovation, biodiversity, human behavious modification) • we need to cut carbon emissions by atleast 50% of their current levels • Several can be put into place using current technologies:- low energy lighting, more fuel efficient vehicles, zero emission initiatives in industries. Decarbonizing energy supply be switching to renewable sources of energy (wind power, solar power, geothermal, biomass, nuclear) • Fuel efficient transport- advancement in engine design, hybrids, electric vehicles, next generation biofuels • Protecting “green carpet” , reducing deforestation, keepimg green carpet is the least expensive way to combat global warming. Educating about reforestation in developing countries. • Government regulations- incentives, penalties. Carbon tax cap, kyoto protocol Pollution and Health: • 40% of death globally are due to organic and chemical pollutants ( HIV aids, heart disease, cancer, malaria) • Lack of sanitation, unsafe drinking water due to dumpage of waste into rivers is cause of deaths • Bronchitis, pneumonia and lung cancer, are due to air pollution. Blacksmith institute identified 2000 instituitions that were contributors to air pollutants Energy Crunch: • Energy consumption will rise even if measure for sustainability are implemented. (page 23) • ResourceAvailability:- • Peak model theories: resources are finite and at some point availability of resources will pass their maximum production point and begin to decline. • Possibility of supply shcok is real not just bacause of peak model theory but because of several key factors: - Current supply development constraints: "how quickly we can develop the production of existing known resource supplies" so that basically means how quickly we can get raw materials from the ground or its source into its production use, that's why it says "into the pipline" so how quickly can they get oil from the ground into pipeline for it to be produced - Political impact factors: political, legislative or environmental factors that constraints the ability of organization to proceed with supply development. Feed-in tariff subsidies (Feed-In tariffs: government payment subsuidy arrangement whereby participants are paid a guaranteed premium for energy conservation) and other grant/investment programs by government to support development of energy alternatives and improvements in energy productivity would also fall under this factor. - Rate of new discoveries: identification of new fossil fuels (if this rate is increasing because of technological improvements, more and more fossil fuels are being found at a faster rate than they can be "regrown" so eventually, if fossil fuels run out, there will be less supply resulting in a supply shock) - Declines in current production: reduction in supply due to drying up of energy resources - Immediate access to additional capacity- ability of current suppliers to tap into to excess capacity to meet the demands of the marketplace. - Geopolitical instability: instability in countries that supply our global energy needs ( middle east, libya) - Development speed of alternate energy resources: speed at which alternate energy resources can be brought online and be viable as a means of energy for current and future energy needs. • Improvements in energy productivity: improving efficiency of energy production and reducing overall demand for energy so that it does not compromise economic growth. Capital investment will result in a combination of: reducing energy amount of energy per dollar of GDP input and create more GDP from the same level of energy input. Resource Depletion: • Resource management: ability to actively manage existing supplies and regenerate new supplies of materials in such a way that we minimize resource depletion • Overall concern has grown that resources are being used up faster than they are being replaced. Furthermore, in some areas, resources have reached past their peak supply point. • Resource depletion curve continues to accelerate due to the rapid increase in population combined with tremendous economic growth in emerging economies. • Resource depletion is felt beyond oil and other fossil fuels: mining, fishing and agriculture. • Groundwater is essential to agriculture, industry and doemstic use. Excessive pumping has resulted in drying up of wells, lowering water in lakes, rivers and streams, detoriation of water quality and increased costs as governements and organizations try to get hold of the resources. Capital Squeeze: • Due to the demand for investment, developed nations have tapped into the reserves of emerging economies, and saving rate in developed countries is very low which results in increase in consumption. This is a problem because emerging economies are developing internally and their need for capital is dramatically increasing. • The consequence of massive capital infusionment and capital shortage is: - access to capital by fully developing economies will become difficult due to low savings rates of their citizens which means, less investment, and increasing needs of developing economies to use their capital reserves for internal domestic investment resulting in less capital to lend out. - to enhance quality of life in developing economies, there will be
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