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Buss. Environment 15
Business Environment Chapter 15
| Term | Definition |
|---|---|
| Acid rain | A mixture of wet and dry deposited material from the atmosphere containing higher than normal amounts of nitric and sulfuric acids |
| Air pollution | The introduction of harmful substances or waste products into the atmosphere |
| Biodiversity | The variation of life forms within an ecosystem; a key indicator of an ecosystem’s health |
| Carbon neutral | A description of a state of balance between carbon dioxide produced and carbon dioxide used |
| Ceres Principles | A widely used set of ten policy statements, issued by an organization of environmental, labor, and social investor groups in the wake of the Exxon Valdez oil spill, to be used as models for businesses to express and practice environmental sensitivity |
| Clean Air Act | The key piece of federal legislation that sets and enforces air quality standards |
| Clean Water Act | Also known as the Federal Water Pollution Control Act, legislation introduced in the early 1970s to set and enforce water quality standards |
| Climate change (or global warming) | The warming of the earth’s climate, especially due to human activities |
| Cost-benefit analysis | A method businesses use to determine whether to invest in a project, such as an environmental project |
| Deforestation | The depletion of forests, a major cause of the greenhouse effect and soil erosion |
| Ecoterrorists | Activists who employ real or threatened damage to people or property to achieve environmental goals |
| Emissions trading (or “cap and trade”) | air quality enforcement approach introduced in the Clean Air Act, in which business may increase emission of a pollutant in one area if they decrease it by as much or more in another area, or, if they decrease emissions overall, may trade their emissions |
| Endangered Species Act (ESA) | Federal law passed in 1973 to prevent harm to species considered endangered (facing extinction) or threatened (likely to become endangered) |
| Energy inefficiency | The wasting of nonrenewable sources of energy |
| Environmental impact statements (EISs) | Reports that explain and estimate the environmental impacts of questionable practices and uses of resources and propose alternatives |
| Environmental Protection Agency (EPA) | Independent government agency created in 1970 to research pollution problems, aid state and local government environmental efforts, and administer many of the federal environmental laws |
| Externalities | Side effects or by-products of actions that are not included in standard cost accounting systems |
| Fossil fuels | Nonrenewable energy sources such as coal, oil, and natural gas, formed over millions of years under unique conditions of temperature, pressure, and biological phenomena |
| Global Reporting Initiative (GRI) | A collaborating center of the UN Environment Program; spearheaded the development of a sustainability reporting framework outlines principles and indicators organizations can use to measure, report their economic, environmental, and social performance |
| Greenhouse effect | The prevention of solar heat absorbed by the earth’s atmosphere from returning to space |
| Montreal Protocol | An agreement, created by the United Nations Environment Programme, in which nations that produce and consume CFCs commit to quick phase-outs of CFCs; in 2009 the protocol achieved universal ratification, the first UN treaty to do so |
| NIMBY | Acronym for “not in my backyard,” a reflection of human denial of responsibility for the misuse of the environment |
| Ozone | An oxygen-related gas that is harmful to life near the earth’s surface but vital in the stratosphere for blocking dangerous ultraviolet radiation from the sun |
| Superfund | Also known as the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), an ongoing program to clean up more than 2,000 hazardous waste dumps and spills around the country, funded by taxes on chemicals and petroleum |
| Sustainability | The ability of a business to meet the needs of the present without compromising the ability of future generations to meet their own needs |
| Toxic substances | Chemicals or compounds that may present an unreasonable threat to human health or the environment |
| Toxic Substances Control Act | Federal law passed in 1976 that requires manufacturing and distribution businesses in the chemical industry to identify any chemicals that pose “substantial risks” of human or other natural environment harm |
| Tragedy of the commons | phenomenon which a common resource is not plentiful enough to sustain all users even though itsthe best self interest of each individual to continue using the resource; protecting the resource would require some individuals act against their selfinterest |
| Triple bottom line (TBL) | Business reporting that covers not only economic but also social and environmental performance |
| Watershed | An area that drains to a common waterway, such as a stream, lake, estuary, wetland, aquifer, or ocean |
| Wicked problems | Problems with characteristics such as interconnectedness, complexity, uncertainty, ambiguity, conflict, and societal constraints |
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