ISM AND ISEG MBA - Développement durable

equirements for reusing and recycling products and packaging and the protection of endangered
habitats and species.
Several predictions can be made about the future of environmental regulations and standards. The
regulations will probably become more stringent, the highest standard among trading partners
will likely become the relevant measure of performance, the enforcement will increase, and the
so-called voluntary standards will increase in number and stringency. Moreover, there will be
more use of third-party certification, there will be a slow transition to market-based mechanisms,
such as energy taxes, the principle of the polluter who pays will become more prevalent, the
precautionary principle will be more widely adopted and a law passed in one country will have
impacts beyond national boundaries.
The US Clean Air Act is an example of legislation that is generating significant international
business opportunities, primarily in the field of abatement but also in pollution prevention and
sustainable technology. New fuels, vehicles, appliances, paints, and electricity-generating
technologies are being developed around the world to comply with the Act. Technology leaders
in the most advanced market soon become technology leaders globally.
Second, the companies have to assess international agreements as sustainable technology drivers.
The demand for sustainable technologies is being driven, in part, by global problems such as
climate change, loss of biodiversity, toxic chemical accumulations, and resource depletions.
Scientists, environmental groups, governments and international agencies are attempting to deal
with these issues via international forums. The resulting agreements can stimulate momentous
changes. Domestic legislation follows as individual countries deliver on their commitments.
Protracted negotiations and lengthy implementation schedules present a window of opportunity
during which companies can judge whether a profitable business venture will result. Recent
international agreements on ozone depletion, climate change and biodiversity represent a unique
set of drivers for developing new products, technologies and processes. Financial rewards await
the companies that develop timely solutions. The key is to be aware of, and able to assess, such
agreements for their business potential.
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