Voluntary environmental management initiatives Essay

Voluntary environmental management initiatives - Essay Example This defines the basic approach the company takes in implementing the system. If the focus is on compliance, then the benefits that the company will expect are reduction in their liabilities. (A Strategic Approach to ISO 14001) This is an EMS and the company is likely to consider it a cost. On the other hand, if the company's objective is to improve their products, design and processes, with the attendant benefits of pollution reduction, but more importantly customer satisfaction, then it could be a VEMI and the company would consider this an investment. The company, in this case, will not be worried about the certification per se, but about the satisfaction of the stakeholders. This does not, of course, mean that the certification is not necessary or is useless, but the company in question is pursuing real results in terms of pollution reduction and improvement in the processes and products, leading to customer and stakeholder satisfaction. (A Strategic Approach to ISO 14001) To answer the question - 'Why are VEMI's important' - The first thing that we need to understand is that it is more realistic than an ISO 14000-oriented EMS. To elaborate, there can be no uniformity in the framework to be used to implement EMS systems - this will differ from company to company, industry to industry. For instance, a retailer may focus on how environment friendly the suppliers are; while a chemical company may focus on how to develop products that cause less harm to the environment and how to recycle the waste products. Even the expectations in the ISO context - that the company has a commitment to ensure compliance, that it seeks to improve its systems on a continuous basis and that it aims to control pollution - cannot be evaluated in the same way for different facilities. (A Strategic Approach to ISO 14001) To take the example of the first expectation - commitment to compliance - different nations have varying levels, strictness and coverage in their environmental regulations. Since ISO 14000 stipulates compliance with regard to the location of the company seeking certification, it may be that a company located in a country where there are less number of laws, will be able to show compliance sooner and with much greater ease. (A Strategic Approach to ISO 14001) The chance of companies getting the certification by adhering to certain minimum regulation requirements is also high. Hence, for real environment management in letter and spirit, it may be necessary to motivate companies to take up VEMI, where they are genuinely interested in environmental improvement. VEMI will therefore be the instrument through which real environment management systems with responsible environment friendly actions take place. Voluntary initiatives or programmes are of three types, according to Lyon and Maxwell. They can be unilateral commitments in which case business organisations voluntarily set up environmental initiatives or programmes. The organisation and not the government take the initiatives in this kind of programme. They can also be public voluntary programmes, where more than one firms agree to adapt the standards established by a public body, like an environmental agency. They can also be negotiated agreements where the government industry

Outline the way that China has been affected by the recent financial Essay

Outline the way that China has been affected by the recent financial crisis of 2008 and subsequent recession. Explore their econ - Essay Example In 2008, the problem was in the sub-prime market in major investment banks in Wall Street. The turning point in 2008 in the crisis was the fall of Lehman Brothers. The world was soon involved in this crisis as many government rushed to implement nationalization policies in their countries to prevent further damage. A number of bad debts also arose during this period because there was a great deal of selling of financial assets with the mortgages that were given out and they were sold all over the world but this became a complex procedure as more and more countries were lending and banks and other financial institutions did not have an idea as to how far in the globe their loans were going. A credit crunch arose in the world which led to a break in the lending system in the world as there was no money to give. This had a detrimental effect on the entire world’s economies including China (Krugman 2009). A fall in output occurred due to the burst of this real estate bubble. This lead to nationalization all over the world as aforementioned and governments made failed attempt after failed attempt to assuage the situation. The government injected more and more money in the economy because demand had fallen and banking systems were trying to hold on. Chinese government increased their spending as well as made tax cuts wherever they could in order to improve the situation of the economy (Soros 2008). The focus of economies including China shifted in two ways. The debt was the responsibility of the public not the private sector since the government had nationalized the economy. And finance was no longer the epicenter, it was the government. Bankers were unwilling to lend and buy bonds because they were fearful of the future due to the crisis. Therefore the financial markets continued to worsen in 2009. China seems to be doing well after just a short duration of time while the other countries are still suffering the blows of the crisis. China in fact had growth of double digits even though it is vulnerable to the changes in the economies of the world. The government in China had to inject money equal to 14% of the GDP in order to boost the economy when the markets in US and Europe fell and they didn’t demand any exports. Social aspects of this injection was relatively little, only about 20% of this stimulus, and the rest went to investment in fixed asset such as concrete, steel and this also lead to the world’s speediest rail system being built in China. Even though this sector was working with excess capacity, the government considered this action to be the correct one (Goodstadt 2011). In 2009 as well, China underwent its own real estate bubble. In this bubble, the prices of apartments shot up by 50 to 60% of their original price, especially in Shanghai and Beijing. New complexes that were being built were abandoned because demand was falling, and so there were half built places all over the country, and there was no sign of growth as no one was constructing which is the first step in order to have a house to sell (McLean & Nocera 2010). The prices of houses were also way beyond the incomes of people and households in the economy. This lead to expansion of credit in China, but one which was cheap, and wages were bogged down artificially so that household transferred their income to businesses and rather than consuming,