Environmental risk and the business bottom line
Demands for the integration of environmental considerations into the business priorities of leading companies are gathering momentum. Potentially devastating financial losses linked to environmental problems or mismanagement and perceptions of environmental issues, has alarmed the public, financial and insurance sectors together with key stakeholders. Expensive lessons have been learned in recent years - poor environmental design and management can undoubtedly lead to escalation of overall costs to meet changing standards and end of life cycle decommissioning bills. Environmental impact not only damages profitability but erodes the corporate asset base. Even suspicion of land contamination can wipe out market values of real estate. Comprehensive screening of business portfolios, investment plans, and existing assets for sources of environmental risk from concept to divestment, is crucial to ensure environmentally sound investment, to protect assets and minimize both environmental impact and future liability. Today`s key stakeholders and financial sectors are looking beyond the existing balance sheets of companies and now scrutinise their environmental credentials to ensure wise investment. Recent developments in environmental risk as a tool for placing environment on the balance sheet of private and public companies will be presented, using selected examples geared to the exploration and production business, together with the needs for a common, international framework for environmental risk strategies.
- OSTI ID:
- 414739
- Report Number(s):
- CONF-960623-; TRN: 96:004555-0041
- Resource Relation:
- Conference: International conference on health, safety and environment in oil and gas exploration products, New Orleans, LA (United States), 9 Jun - 12 Sep 1996; Other Information: PBD: 1996; Related Information: Is Part Of The third international conference on health, safety & environment in oil and gas exploration and production. Proceedings - Volume 2; PB: 934 p.
- Country of Publication:
- United States
- Language:
- English
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