International Environmental Regulation For Industry

Saeed Foroudastan, Lee Poe, Olivia Dees
2006 Annual Conference & Exposition Proceedings   unpublished
Corporations may remain profitable without causing significant damage to the environment. However, the trend is to engage in environmentally hazardous practices in the pursuit of profits. Industries should be encouraged to display more innovation in developing sustainable methods of production. To support this, regulatory structuring must make it more profitable for corporations to obey environmental regulations than to ignore them. The minimal parameters for pollution violation need to be
more » ... upon and maintained by the following criteria: 1) the size of the fine is to be determined by a correlation of the corporation's direct financial gain and the degree or severity of its pollution; 2) the corporation is to be held responsible for the remediation of its pollution; 3) environmental regulations are to be periodically reviewed by an independent body of experts including leaders in government, industry, science, and culture to recommend revisions based upon the needs of society and the pertinence of the policies to changing conditions.
doi:10.18260/1-2--398 fatcat:bsiwb7dm3ne6zmuaylj4wmxe24