Saving the Environment Doesn't Need to Cost Money!

Emblen-Perry, Kay ORCID: https://orcid.org/0000-0001-8841-650X and Duckers, L. (2019) Saving the Environment Doesn't Need to Cost Money! The International Journal of Professional Management, 14 (4). ISSN 2042-2341

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Abstract

Traditionally, UK for-profit organisations have expected to maximise profits and deliver value for customers; from the external perspective, it is hoped they achieve realistic profits and generate employment. However, these expectations are now changing. Customers expect products and services that, as well as providing value, also reduce environmental impacts. This is often publicised through costly environmental management accreditations.
Although ‘no cost’ behavioural and ‘low cost’ environmentally considerate interventions have emerged in the last two decades, businesses continue to struggle to realise opportunities that reduce environmental impacts and demonstrate environmental responsibility to satisfy stakeholder demands as they are embedded in economic systems in which improvement equals investment. Environmental impact reductions have become environmental impact offsets synonymous with financial expenditure and demands for trained staff rather than cost reduction, which generally challenges an organisations’ financial strategy. Organisations therefore frequently fear environmental performance improvement.
In an attempt to overcome this cost based view of environmental responsibility this paper presents a more financially accessible approach to environmental management; the Environmental Value for Money Framework. The Environmental Value for Money Framework is offered as a tool to generate a self-funding and economically viable environmental management strategy to encourage businesses to engage in carefully planned and economically viable environmental impact reductions.

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