Law and the Transition to Business Sustainability

Beschreibung

This book examines the key legal and business aspects of sustainability in depth. Recognizing the firm’s need for integrated approaches to law and sustainability as well as adaptive goal setting, the book unites scholars from environmental law, energy, risk regulation and intellectual property.  Most firms now recognize that global resources are finite and will grow increasingly scarce. They acknowledge that their actions have social, economic and environmental consequences.  Some firms now practice “whole life-cycle” analysis in marketing and product design, seek sustainable inputs and energy sources, and track and report sustainability performance overall, however it can be measured. But standard practices have not kept pace. Regulators must support such efforts with mandatory structures for all firms enabling leaders to gain competitive advantages and laggards to pay the price. The variety of regulatory tools has grown to include cooperative funding, intellectual property rights, information disclosures, and other means. And that variety is most urgently needed in transition economies where the forces of international competition can be the strongest. The chapters in this book push beyond the traditional boundaries separating these dimensions of law, business and sustainability to offer both practical insights and directions for future research in this immense and growing nexus.

This book expands on law-related research by examining the legal aspects of sustainability with a focus on the impact on business strategies. It recognizes that firms must adopt an integrated approach to law and sustainability, considering multiple disciplines and goals, and serve as a forum for bringing together scholarship from fields such as environmental law, energy, government regulation and intellectual property. Firms increasingly have an interest in transitioning to sustainable business practices that take into consideration the fact that global resources are finite and will be increasingly scarce. They acknowledge that current actions have social, economic and environmental consequences and employ options to ensure that future generations have the same options and benefits. Examples of sustainable practices increasingly employed by firms include the institutionalization of “whole life-cycle” analysis in marketing and product design, utilization of sustainable inputs and energy sources, tracking and reporting sustainability performance, attempting the valuation of future generation prosperity and happiness as a discounting mechanism, and integrating sustainability into firm culture and management goals. It is clear that law and regulation have an extremely important role to play in the transition to more sustainable business practices. Broadly stated, law can provide structure for firms responding to forces that pull transition by enabling sustainability leadership and competitive advantage through funding models, intellectual property rights and collaboration means. Additionally, law can work to push transition by compelling firms to act through regulatory structures, accounting and governance mechanisms.

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Daniel R. Cahoy

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Energy policy Environmental law Firm behavior Legal environment Regulation Sustainability Sustainable development

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