The Promotion of Environmental Management System (EMS) Development through Regulatory Changes
Environmental awareness is rising rapidly and, consequently, so too the implementation of voluntary environmental management systems (EMSs). EMSs have large potential benefits for corporations not only in environmental protection but in increased profitability as well. I will explain how the creation of voluntary EMSs by corporations can address the market failure associated with the negative externalities presented by pollution. With EMS development there is a lower overall abatement cost due to specific economic incentives in turn leading to lower abatement costs, greater production and allocative efficiency. I will suggest regulatory techniques that governments can use to encourage EMS development including monitoring and enforcement of third party audits, public disclosure, and sanctions.
Date of Completion
Krueger, McKenna, "The Promotion of Environmental Management System (EMS) Development through Regulatory Changes" (2007). Economics Theses. 47.