A força propulsora da excelência organizacional compeliu grandes organizações a repensar seus modelos de gestão em segurança, saúde no trabalho e meio ambiente. O presente trabalho versa sobre a avaliação do desempenho ambiental de um conjunto de cinco empresas químicas e petroquímicas de um dos pólos industriais do Estado de São Paulo, signatárias do Programa Atuação Responsável da Associação Brasileira da Indústria Química (ABIQUIM) e também certificadas pela norma NBR ISO 14.001:1996. A pesquisa abrange também a verificação da melhoria do processo de comunicação destas empresas em nível interno e com as demais partes interessadas. O trabalho aborda as vantagens da adoção de modelos de gestão integrada nas áreas de segurança, saúde no trabalho e meio ambiente, como fator de racionalização dos seus processos internos com vistas a aumentar a eficácia operacional. É discutida também a necessidade de as organizações demonstrarem seus resultados ambientais e estabelecerem canais eficazes de comunicação com as partes interessadas. São apontados os benefícios e dificuldades encontrados pelas empresas estudadas na adoção de metas para obtenção da melhoria do desempenho ambiental. Constatou-se ligeira melhoria ou manutenção do desempenho ambiental de quatro empresas estudadas, enquanto uma delas destacou-se com melhorias significativas, atribuídas a investimentos modernizadores e à adoção de nova tecnologia de processo. O conjunto de indicadores adotado pela ABIQUIM pode ser adaptado para expressar a evolução temporal do desempenho ambiental de cada empresa. Uma das empresas expandiu o rol de indicadores. As certificações obtidas com a norma NBR ISO 14.001:1996 e o Programa Atuação Responsável da ABIQUIM foram fatores coadjuvantes de mudanças internas e externas, contribuindo indiretamente para a melhoria do desempenho ambiental. Observou-se que todas as empresas têm grande preocupação com a imagem e tomaram iniciativas de comunicação com as partes interessadas; no entanto, os resultados do processo de comunicação não indicam melhoras expressivas na imagem dessas empresas. O Conselho Comunitário Consultivo desempenha papel fundamental no processo de comunicação. Projetos de apoio à comunidade demonstram responsabilidade social e têm sido uma boa oportunidade para melhorar a imagem e o próprio processo de comunicação. Embora as empresas estudadas tenham se empenhado em estabelecer canais de comunicação com todas as partes interessadas, há ainda um caminho árduo a ser percorrido. São apresentadas recomendações para aprimorar o processo de comunicação, como a ampliação do uso de programas sistêmicos envolvendo os representantes do Conselho Comunitário Consultivo e os funcionários das empresas, sendo estes incentivados a participar das ações sociais desenvolvidas na comunidade, como legítimos parceiros e interlocutores entre empresa e comunidade. / The propelling power of the organizational excellence has been causing many large organizations to start rethinking the management models in safety, work health and environment. This work refers to the evaluation of the environmental performance of a set of five chemical and petrochemical companies of one of the industrial poles of the State of São Paulo, subscribers of the Responsible Care Program of the Brazilian Association of the Chemical Industry (ABIQUIM) and also certified by standard NBR ISO 14.001:1996. The research also comprises the checking of the improvement of those companies’ communication process, both in-house and with the other interested parties. The work approaches the advantages of the adoption of integrated management models in the areas of safety, work health and environment, as a factor to rationalize its internal processes aiming at increasing the operating effectiveness. It is also discussed the need to the organizations show their environmental results and establish effective communication channels with the interested parties. The benefits achieved and difficulties faced by the studied companies in the adoption of goals to obtain the improvement of the environmental performance are appointed. It was verified a slight improvement or keeping of the environmental performance of four studied companies, while one of them was outstanding with significant improvements, which can be attributed to modernizing investments and to the adoption of new process technology. The set of indicators adopted by ABIQUIM may be adapted in order to show the timely evolution of the environmental performance of each company. One of the companies expanded the roll of indicators. The certifications obtained with standard NBR ISO 14.001:1996 and the ABIQUIM Responsible Care Program were coadjuvant factors of both internal and external changes, contributing indirectly for the improvement of the environmental performance. It has been observed that all companies declare to be very concerned with their image and took several communication initiatives with the interested parties, however the communication process results do not appoint significant improvement in the image of those companies. The Advisory Community Council plays a major role in the communication process. Community support projects show social responsibility and had been a good opportunity to improve the image and the communication process itself. Although the studied companies have made every effort to establish communication channels with all interested parties, there is still a long way to run. Recommendations are given in order to improve the communication process, such as the enlarged use of systemic programs involving the representatives of the Advisory Community Council and the companies’ employees, encouraging the latter to take part of the social actions taken in the community, as legitimate partners and interlocutors between the company and the community.

A força propulsora da excelência organizacional compeliu grandes organizações a repensar seus modelos de gestão em segurança, saúde no trabalho e meio ambiente. O presente trabalho versa sobre a avaliação do desempenho ambiental de um conjunto de cinco empresas químicas e petroquímicas de um dos pólos industriais do Estado de São Paulo, signatárias do Programa Atuação Responsável da Associação Brasileira da Indústria Química (ABIQUIM) e também certificadas pela norma NBR ISO 14.001:1996. A pesquisa abrange também a verificação da melhoria do processo de comunicação destas empresas em nível interno e com as demais partes interessadas. O trabalho aborda as vantagens da adoção de modelos de gestão integrada nas áreas de segurança, saúde no trabalho e meio ambiente, como fator de racionalização dos seus processos internos com vistas a aumentar a eficácia operacional. É discutida também a necessidade de as organizações demonstrarem seus resultados ambientais e estabelecerem canais eficazes de comunicação com as partes interessadas. São apontados os benefícios e dificuldades encontrados pelas empresas estudadas na adoção de metas para obtenção da melhoria do desempenho ambiental. Constatou-se ligeira melhoria ou manutenção do desempenho ambiental de quatro empresas estudadas, enquanto uma delas destacou-se com melhorias significativas, atribuídas a investimentos modernizadores e à adoção de nova tecnologia de processo. O conjunto de indicadores adotado pela ABIQUIM pode ser adaptado para expressar a evolução temporal do desempenho ambiental de cada empresa. Uma das empresas expandiu o rol de indicadores. As certificações obtidas com a norma NBR ISO 14.001:1996 e o Programa Atuação Responsável da ABIQUIM foram fatores coadjuvantes de mudanças internas e externas, contribuindo indiretamente para a melhoria do desempenho ambiental. Observou-se que todas as empresas têm grande preocupação com a imagem e tomaram iniciativas de comunicação com as partes interessadas; no entanto, os resultados do processo de comunicação não indicam melhoras expressivas na imagem dessas empresas. O Conselho Comunitário Consultivo desempenha papel fundamental no processo de comunicação. Projetos de apoio à comunidade demonstram responsabilidade social e têm sido uma boa oportunidade para melhorar a imagem e o próprio processo de comunicação. Embora as empresas estudadas tenham se empenhado em estabelecer canais de comunicação com todas as partes interessadas, há ainda um caminho árduo a ser percorrido. São apresentadas recomendações para aprimorar o processo de comunicação, como a ampliação do uso de programas sistêmicos envolvendo os representantes do Conselho Comunitário Consultivo e os funcionários das empresas, sendo estes incentivados a participar das ações sociais desenvolvidas na comunidade, como legítimos parceiros e interlocutores entre empresa e comunidade. / The propelling power of the organizational excellence has been causing many large organizations to start rethinking the management models in safety, work health and environment. This work refers to the evaluation of the environmental performance of a set of five chemical and petrochemical companies of one of the industrial poles of the State of São Paulo, subscribers of the Responsible Care Program of the Brazilian Association of the Chemical Industry (ABIQUIM) and also certified by standard NBR ISO 14.001:1996. The research also comprises the checking of the improvement of those companies’ communication process, both in-house and with the other interested parties. The work approaches the advantages of the adoption of integrated management models in the areas of safety, work health and environment, as a factor to rationalize its internal processes aiming at increasing the operating effectiveness. It is also discussed the need to the organizations show their environmental results and establish effective communication channels with the interested parties. The benefits achieved and difficulties faced by the studied companies in the adoption of goals to obtain the improvement of the environmental performance are appointed. It was verified a slight improvement or keeping of the environmental performance of four studied companies, while one of them was outstanding with significant improvements, which can be attributed to modernizing investments and to the adoption of new process technology. The set of indicators adopted by ABIQUIM may be adapted in order to show the timely evolution of the environmental performance of each company. One of the companies expanded the roll of indicators. The certifications obtained with standard NBR ISO 14.001:1996 and the ABIQUIM Responsible Care Program were coadjuvant factors of both internal and external changes, contributing indirectly for the improvement of the environmental performance. It has been observed that all companies declare to be very concerned with their image and took several communication initiatives with the interested parties, however the communication process results do not appoint significant improvement in the image of those companies. The Advisory Community Council plays a major role in the communication process. Community support projects show social responsibility and had been a good opportunity to improve the image and the communication process itself. Although the studied companies have made every effort to establish communication channels with all interested parties, there is still a long way to run. Recommendations are given in order to improve the communication process, such as the enlarged use of systemic programs involving the representatives of the Advisory Community Council and the companies’ employees, encouraging the latter to take part of the social actions taken in the community, as legitimate partners and interlocutors between the company and the community.

<p><p>We started out with a focus on how companies act when considering the environment in business, but the research took us further than that and led us to the root of our research focus. We are discussing aspects pertaining to the relation of society – and business life, and how human beings perceive the connection to nature. Our initial thought was to study business and how companies handle the environmental context, but the social context appeared to us as well with its strong connection to the environment. The master thesis is written with a respect for the environment and with an aspiration to give a sense of the larger context wherein nature and human itself exist. The environment is a complex issue for companies to handle. The benefits of improving the environmental performance are not always clear, which induces companies with insecurity as to what strategic action should be taken. The development of environmental performance over the years has resulted in certain environmental deeds, which have become institutionalized in different industries. What is considered to be ethically acceptable is not easily established, but it is a term companies are facing more often, especially when companies take actions that give them higher influence on society. Every company can claim to be environmentally friendly, at the same time, consumers are skeptical towards these claims, which complicates sincere attempts of environmental improvements. A company’s reality is constructed by people, and the company has to adjust to the demands people have outside and inside the organization. It is people’s perception of the environment that will state the demands of a company. We have studied three companies and how they handle their environmental performance that is determined by the business context, and the perception the interviewees have thereof. In the environmental area of sustainability, ISO-certification is an industry norm that is created, sustainable forestry is another, but we have realized that the environmental area is not balanced. The norms and expectations of society conflict with business and environmental considerations. That is why some companies are hesitant in initiating environmental action, because environmental initiatives cost, as any investment does, and might not give back tangible benefits.</p></p>

The production of biofuels has increased in recent years, to reduce the dependence on fossil fuels and mitigate climate change. However, current production practices are heavily criticized on their environmental sustainability. Life cycle assessments have therefore been used in policies and academic studies to assess the systems; with divergent results. In the coming years however, biofuel production practices must improve to meet strict environmental sustainability policies. The aims of the research presented in this thesis, are to explore and analyze concepts from industrial symbiosis (IS) to improve the efficiency and environmental performance of biofuel production and identify possible material and energy exchanges between biofuel producers and external industries. An exploration of potential material and energy exchanges resulted in a diverse set of possible exchanges. Many exchanges were identified between biofuel producers to make use of each other’s by-products. There is also large potential for exchanges with external industries, e.g. with the food, energy and chemical producing industries. As such, the biofuel industry and external industries have possibilities for potential collaboration and environmental performance improvements, though implementation of the exchanges may be influenced by many conditions. In order to analyze if concepts from IS can provide benefits to firms of an IS network, an approach was created which outlines how quantifications of IS networks can be produced using life cycle assessment literature for guidelines and methodological considerations. The approach offers methods for quantifying the environmental performance for firms of the IS network and an approach to distribute impacts and credits for the exchanges between firm, to test the assumed benefits for the firms of the IS network. Life cycle assessment, and the approach from this thesis, have been used to quantify the environmental performance of IS networks by building scenarios based on an example from an IS network of biofuel producers in Sweden. From the analyses, it has been found that exchanges of material and energy may offer environmental performance improvements for the IS network and for firms of the network. However, the results are dependent upon the methodological considerations of the assessments, including the reference system, functional unit and allocation methods, in addition to important processes such as the agricultural inputs for the system and energy systems employed. By using industrial symbiosis concepts, biofuel producers have possibilities to improve the environmental performance. This is done by making use of by-products and waste and diversifying their products, promoting a transition toward biorefinery systems and a bio-based economy for regional environmental sustainability. / Produktionen av biobränslen har ökat de senaste åren, vilket är ett steg mot klimateffektivare lösningar i transportsektorn, men biodrivmedlen har ifrågasatts med hänvisning till tveksamheter kring deras miljö- och energiprestanda. Lifecykelanalyser har därför använts inom akademiska studier och för policy för att utvärdera systemen, dock utan samstämmiga resultat. Under de kommande åren måste därför praxis för produktion av biobränslen förbättras för att kunna möta de strikta kraven i hållbarhetskriterier för biobränslen. Syftet med forskningen som presenteras i den här doktorsavhandlingen är att utforska och analysera koncept från området Industriell symbios (IS) och därigenom identifiera förbättringar för ökad effektivitet och miljöprestanda för biobränsleproduktion. Vidare är syftet att identifiera möjliga material- och energiutbyten mellan biobränsleproducenter och externa industrier. Potentiella material- och energiutbyten undersöktes, vilket resulterade förslag på flera olika typer av potentiella utbyten. Undersökningen visar på en potential för att använda biprodukter i en biobränsleprocess som råvara till en annan biobränsleframställning. Vidare identifierades en stor potential för utbyten med externa industrier, som till exempel matproducenter samt industrier för energi och kemikalier. Det är tydligt att det finns möjligheter för biobränsleproducenter och externa industrier att samarbeta och därmed ge möjlighet till förbättringar i miljöprestandan, dock kan en implementering av dessa utbyten påverkas av många olika förutsättningar. Avhandlingen presenterar även ett tillvägagångssätt för att visa hur kvantifiering av miljöprestanda inom ett nätverk för IS kan genomföras genom att använda riktlinjer och metodavvägningar från litteratur för livscykelanalys.  Detta tillvägagångssätt kan användas för att analysera om koncept från IS kan leda till fördelar för företagen i ett IS-nätverk. Tillvägsgångssättet ger möjlighet att kvantifiera miljöprestandan för företagen i IS-nätverket och ger dessutom vägledning för hur miljöpåverkan från utbytena kan distribueras mellan de olika företagen. Metoden utvecklades för att bland annat undersöka de förmodade fördelarna från IS för varje enskild aktör. Livscykelanalys i kombination med tillvägagångssättet ovan har använts för att kvantifiera miljöprestandan för IS-nätverk genom att konstruera scenarier. Scenarierna har baserats på ett exempel från ett IS-nätverk av biobränsleprocenter i Sverige. Analyserna visar att utbyten av material- och energi kan ge förbättringar i miljöprestanda. Resultaten är dock beroende av vilka metodavvägningar som gjorts, till exempel val av referenssystem, funktionell enhet och allokeringsmetoder. Vidare spelar viktiga processer som inputs från jordbruk och val av energisystem stor roll för resultatet. Metodavvägningar för utväderingen influerar även miljöpåverkan samt hur den fördelas mellan företagen i IS-nätverket. Dessutom kan den lokala miljöpåverkan öka medan den globala påverkan minskar. Sammanfattningsvis kan biobränsleproducenter, genom att använda koncept från industriell symbios, ges möjlighet att förbättra sin miljöprestanda. Detta kan ske genom att använda biprodukter och avfall samt genom att diversifiera sina produkter som ett första steg mot en övergång mot bioraffinaderier och en mer biobaserad ekonomi för regional hållbarhet.

This study shows an economically significant relation between a firm’s environmental performance and its cost of debt. Firms that have poor environmental performance will face future environmental liabilities related to compliance and clean-up costs due to increasingly strict environmental laws and regulations. Under current U.S. law, environmental liabilities can impair the value of fixed assets, as environmental claims often take precedence over the claims of creditors. Thus, future environmental liabilities are of particular concern to creditors. Previous accounting research has shown that a firm’s market value of equity is significantly affected by its environmental performance. However, the same has yet to be shown for a firm’s cost of debt capital. This study focuses on a sample of U.S. pulp and paper firms. The results imply that the market applies an ‘environmental risk’ premium of thirty-eight basis points to the cost of debt capital for the average public firm in the U.S. pulp and paper industry, based on its environmental performance. Environmental performance is measured using the annual toxic release inventory of the United States Environmental Protection Agency. It is a measure of the amount of toxic chemicals released to land, air and water by a firm’s operating facilities. This paper adds to the literature, providing evidence that environmental performance is a value relevant measure with regards to creditors. Thus, recent calls in the United States for greater cooperation between the Securities and Exchange Commission and the Environmental Protection Agency should be addressed. These calls are for the reporting, on a firm-wide basis, of quantifiable data that is already required by the Environmental Protection Agency but is not typically available in detail in firms’ reports to investors.

This study shows an economically significant relation between a firm’s environmental performance and its cost of debt. Firms that have poor environmental performance will face future environmental liabilities related to compliance and clean-up costs due to increasingly strict environmental laws and regulations. Under current U.S. law, environmental liabilities can impair the value of fixed assets, as environmental claims often take precedence over the claims of creditors. Thus, future environmental liabilities are of particular concern to creditors. Previous accounting research has shown that a firm’s market value of equity is significantly affected by its environmental performance. However, the same has yet to be shown for a firm’s cost of debt capital. This study focuses on a sample of U.S. pulp and paper firms. The results imply that the market applies an ‘environmental risk’ premium of thirty-eight basis points to the cost of debt capital for the average public firm in the U.S. pulp and paper industry, based on its environmental performance. Environmental performance is measured using the annual toxic release inventory of the United States Environmental Protection Agency. It is a measure of the amount of toxic chemicals released to land, air and water by a firm’s operating facilities. This paper adds to the literature, providing evidence that environmental performance is a value relevant measure with regards to creditors. Thus, recent calls in the United States for greater cooperation between the Securities and Exchange Commission and the Environmental Protection Agency should be addressed. These calls are for the reporting, on a firm-wide basis, of quantifiable data that is already required by the Environmental Protection Agency but is not typically available in detail in firms’ reports to investors.

We started out with a focus on how companies act when considering the environment in business, but the research took us further than that and led us to the root of our research focus. We are discussing aspects pertaining to the relation of society – and business life, and how human beings perceive the connection to nature. Our initial thought was to study business and how companies handle the environmental context, but the social context appeared to us as well with its strong connection to the environment. The master thesis is written with a respect for the environment and with an aspiration to give a sense of the larger context wherein nature and human itself exist. The environment is a complex issue for companies to handle. The benefits of improving the environmental performance are not always clear, which induces companies with insecurity as to what strategic action should be taken. The development of environmental performance over the years has resulted in certain environmental deeds, which have become institutionalized in different industries. What is considered to be ethically acceptable is not easily established, but it is a term companies are facing more often, especially when companies take actions that give them higher influence on society. Every company can claim to be environmentally friendly, at the same time, consumers are skeptical towards these claims, which complicates sincere attempts of environmental improvements. A company’s reality is constructed by people, and the company has to adjust to the demands people have outside and inside the organization. It is people’s perception of the environment that will state the demands of a company. We have studied three companies and how they handle their environmental performance that is determined by the business context, and the perception the interviewees have thereof. In the environmental area of sustainability, ISO-certification is an industry norm that is created, sustainable forestry is another, but we have realized that the environmental area is not balanced. The norms and expectations of society conflict with business and environmental considerations. That is why some companies are hesitant in initiating environmental action, because environmental initiatives cost, as any investment does, and might not give back tangible benefits.

In my PhD thesis I investigate the relationship between corporates' financial and environmental performances. The concept of quantitative environmental performance measures was introduced to enable to compare and analyse environmental impacts of different socio­economic units e.g. companies, countries, regions. In my dissertation, I use environmental performance measures to examine their effect on the financial performance of different companies. In the first chapter, I apply a meta­analysis to examine the results of the previous studies which investigate the impact of firms' environmental performance on their financial performance. The outcomes propose that it is important to account for the omitted variable bias such as unobserved firm heterogeneity. The results suggest that it takes time for the environmental regulation to materialize into the financial performance, too. In the subsequent two chapters I study Czech firms over 2004­2008. First I study the intertemporal effects of corporates' environmental performance on financial ...

Student Number : 9612417M - MSc(Eng) research report - School of Civil and Environmental Engineering - Faculty of Engineering and the Built Environment / Despite benefits claimed by organisations on ISO 14001 such as improved environmental performance and gaining of business advantage, there are disputes that the standard does not lead to improved environmental performance. The purpose of the study was to establish environmental performance of ISO 14001 in South Africa; and environmental management tools that can back up ISO 14001 standard for enhanced performance. The study was based on questionnaires, interviews and documents. The outcome of the study was that ISO 14001 is implemented in South Africa mainly to gain business advantage whilst aiding in improved environmental behaviour. Benefits obtained from ISO 14001 certification by organisation include environmental awareness and responsibility by employees across the board, more organised data management, reduced environmental costs, no environmental liabilities and gaining good reputation with the public, government, insurers and other stakeholders. However the issue of costs is considerably a limitation for companies to register for ISO 14001. The environmental management tools mostly implemented are those closely associated with ISO 14001 such as Environmental Auditing, Environmental Performance Indicators and Environmental Reporting. Other tools such as Design for Environment, Life Cycle assessment, Extended Producer Responsibility, and Eco- Mapping are not popular in South Africa which can imply missed opportunities. Strategic incorporation of these Environmental management tools into ISO 14001 include simplicity, innovation, use of incentives, industrial associations and benchmarking, new thinking, education, building on existing business practices and broadening the use of ISO 14001 standard.

Date: 2023-05-31 Level: Bachelor thesis in Business Administration, 15 cr  Institution: School of Business, Society and Engineering, Mälardalen University  Authors: Ahlqvist Malin, Fredmark Ida Xing and Pirani Shervin (93-03-11)          (96-06-05)        (98-07-02)                                           Title: Exploring sustainability performance in small and medium-sized enterprises from a triple bottom line perspective Supervisor:  Edward Gillmore  Keywords: TBL, Sustainability, Initiatives, Environmental performance, Economic performance Research questions:  RQ1: What are the characteristics of sustainable initiatives in SMEs? RQ2: How do the sustainability initiatives affect the economic performance and the environmental performance within SMEs? Purpose: This study aims to explore the characteristics of initiatives that an SME is undertaking regarding sustainability and how it affects their economic and environmental performance. Method: This study has an inductive approach and one case study. Four qualitative semi-structured interviews were conducted, and secondary data was collected. Conclusion: In relation to TBL, numerous environmental initiatives were detected, while fewer economic initiatives and social initiatives were detected. An inconsistency was found regarding the effect sustainability initiatives have on economic performance and environmental performance. If an SME wishes to operate sustainably it is suggested that emphasis should be directed towards the integration and improvement within areas of waste management, resource management, and optimization of transportation.