Answer to Question 1
Sustainability in consideration to a business context can be explained as a process that addresses requirements of the current days devoid of compromising the capability of future generations to address their requirements. The sustainability concept includes three major pillars such as profits, people and world (Blok et al., 2015). It can also be defined as an aspect of business ethics in response to perceived public dissatisfaction and on reducing carbon footprints as well as packaging waste. The push for sustainability can be observed in certain areas of energy generation in which the focus is on recognizing new deposits to out space the drawdown of the present reserves.
Answer to Question 2
Certain sustainability policies are deemed to consider financial costs that can be offset with one or more of aspects mentioned below:
- Decree if environmental silence fees
- Decrease in waste management costs
- Recovery or highly effective raw materials use
Certain instances of financial costs associated with sustainability policies are sustainable pollution control in which the marginal cost of abatement is set identical to the marginal damage of pollution (Epstein & Buhovac, 2014). In getting rid of pollution, certain financial costs such as environmental license fees can be experienced in order to decrease the damage of pollution completely.
Answer to Question 3
Certain legislation policies are deemed to have impact on a business’ sustainability practices. These legislative or regulatory requirements include federal, state and legal obligations within environmental laws. A business can attain environmental licenses and permits based on the local and type of business conducts. Federal government legislations and licenses include in areas of habitats or heritage sites protection (Goyal, Rahman & Kazmi, 2015). Legislation and regulatory permits of state and local government includes on the fact that the business activity might impact on local environment such as air, water and parks. From such instances it can be stated that government agencies along with have a major role in deciding regulatory policies for businesses in maintaining their sustainability and declaring industry impact on environment.
Answer to Question 4
An environment protection act for state and tertiary is deemed to be present under objects and objects of act. Environment Protections Act of 1997 is developed by Australian regulatory authorities that must be maintained if business is conducted in Australian state or territory. The 3C of this act includes objects of act that must be considered by the businesses (Hudson et al., 2015). The objects within this act include enhancement and protection of environment quality and preventing environmental risk and degradation that can cause harm to human health. This can be ensured through promoting pollution prevention, clean production technology, materials recycling and reusing along with waste declares programs. Objects of Act also require individuals that engage in polluting conducts make gradual environmental enhancements.
Answer to Question 5
“The National Greenhouse and Energy Reporting (NGER) scheme” that is established by the “National Greenhouse and Energy Reporting Act of 2007” that is sole national structure disseminating and reporting company data concerning regarding “greenhouse gas emissions”, energy manufacturing and utilization along with certain other data considered within “NGER legislation”. The “Clean Energy Regulator” administers this act within its legislative needs along with related processes and policies (Marcus, MacDonald & Sulsky, 2015). This encompasses registering and deregistering companies for reporting, enforcing and monitoring compliance. The goals of NGER scheme includes informing policy of the government along with Australian people and facilitate in addressing international reporting obligations of Australia. NGER legislation also assists state, commonwealth along with tertiary government programs and activities. It also has an objective of this legislation is to avoid duplication of identical reporting needs within territories and states.
Answer to Question 6
The best sustainability models and initiatives that are identified for the business sector Queensland Government business sustainability roadmap and generic six step sustainability business model along with identifying leaders in the field. Moreover, the suitable sustainability models intended for business sector includes industry specific systems supported and promoted by some industry associations. These include “Sustainable Green Print (SGP)”, the Australian printing industry’s identifiable certification initiative (Marshall et al., 2015). This is developed to support printing organizations in addressing environmental responsibilities along with going beyond and above compliance. EcoBiz is an instance of generic six step sustainability business model that offers resources and guidelines in a way that businesses can be efficient and profitable through better resource management. “The Banksia Environmental foundation” is nationwide non-profit firm that encourages environmental excellence along with sustainability by means of awards program.
Answer to Question 7
The factors that must be considered by the business sector at the time of new policy development for sustainability within an organization includes energy, waste and recycling, building design, water and alternative transport. Certain other areas that are required to be considered by business sectors in developing their effective sustainability policies are landscaping, paper, purchasing, packaging, alternative transport and tele-commuting which considers employees those work from home and teleconferencing (Norton, Zacher & Ashkanasy, 2014). Technology can also be considered as one of the most important factor in developing sustainable development of green energy policies by companies. Moreover, certain factors related to global warning an environmental changes, climate change, ecological destruction and intensified global greenhouse effect can facilitate business sector in developing environment protection and energy policies.
Answer to Question 8
There are certain procedures which can facilitate in tracking the regular improvements of the business sector in relation to maintaining sustainability. These procedures include recognizing the need for new procedures and policies. This can be conducted through comparing and reviewing the existing company policies and then developing new procedures and policies for sustainability. Regular sustainability measures improvement can be tracked through developing key performance indicators that can consider analyzing the amount of energy or raw materials employed and emissions quantity (Sroufe & Joseph, 2017). The KPI’s also include tracking percentage of recycled waste, investment within environmental protection, number of environmental incidents and number of employees attending training courses. Major roles of sustainability performance review also include intergrading sustainability policies with quality assurance (QA) and occupations health and safety systems (WHS).
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Epstein, M. J., & Buhovac, A. R. (2014). Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.
Goyal, P., Rahman, Z., & Kazmi, A. A. (2015). Identification and prioritization of corporate sustainability practices using analytical hierarchy process. Journal of Modelling in Management, 10(1), 23-49.
Hudson, J. N., Farmer, E. A., Weston, K. M., & Bushnell, J. A. (2015). Using a framework to implement large-scale innovation in medical education with the intent of achieving sustainability. BMC medical education, 15(1), 2.
Marcus, J., MacDonald, H. A., & Sulsky, L. M. (2015). Do personal values influence the propensity for sustainability actions? A policy-capturing study. Journal of Business Ethics, 127(2), 459-478.
Marshall, D., McCarthy, L., Heavey, C., & McGrath, P. (2015). Environmental and social supply chain management sustainability practices: construct development and measurement. Production Planning & Control, 26(8), 673-690.
Norton, T. A., Zacher, H., & Ashkanasy, N. M. (2014). Organisational sustainability policies and employee green behaviour: The mediating role of work climate perceptions. Journal of Environmental Psychology, 38, 49-54.
Sroufe, R., & Joseph, S. (Eds.). (2017). Strategic sustainability: the state of the art in corporate environmental management systems. Routledge.