DocumentCode :
2375581
Title :
Cost benefit analysis for implementation of environmental management systems
Author :
Paramasevam, G. ; Hassan, M.N. ; Mohamed, Noor
Author_Institution :
Fac. of Sci. & Environ. Studies, Universita Putra Malaysia, Selangor, Malaysia
fYear :
2001
fDate :
2001
Firstpage :
766
Lastpage :
768
Abstract :
ISO 14001 is "good business" because it can lead to greater efficiencies and reduced materials and operating costs. The very definition of "environment" is all-inclusive: it means anything that consumes energy and produces waste. Environmental issues span the entire management spectrum: material costs, productivity, quality, liability, health and safety. An efficient and cost effective systems approach to managing these variables of doing business impacts bottom-line profitability. The cost-benefit analysis is used to determine the feasibility to obtain profit to implement environmental management systems. The determination of Net Present Value (NPV), Internal Rate of Return (IRR) and Benefit to Cost Ratio (B/C) confirms that after 4 years of implementation of environmental management system, benefits can be obtained. CBA is a normative tool, not a description of how management is making decisions. The technical limitations may make it impossible to quantify and then monetize all relevant impacts as costs and benefits. Nevertheless, CBA is often a useful yardstick for measuring efficiency, even when it is not an appropriate decision rule
Keywords :
ISO standards; cost-benefit analysis; design for environment; government policies; recycling; semiconductor device manufacture; B/C; Benefit to Cost Ratio; IRR; ISO 14001; Internal Rate of Return; NPV; Net Present Value; bottom-line profitability; cost benefit analysis; cost effective systems approach; environmental issues; environmental management systems; health and safety; liability; material costs; normative tool; operating costs; productivity; quality; technical limitations; Cost benefit analysis; Environmental management; Government; Health and safety; Medical services; Pollution measurement; Productivity; Profitability; Quality management; Sustainable development;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Environmentally Conscious Design and Inverse Manufacturing, 2001. Proceedings EcoDesign 2001: Second International Symposium on
Conference_Location :
Tokyo
Print_ISBN :
0-7695-1266-6
Type :
conf
DOI :
10.1109/.2001.992464
Filename :
992464
Link To Document :
بازگشت