Environmental Laws and Regulations Essay Example | Topics and Well Written Essays - 500 words

Environmental Laws and Regulations - Essay Example nt environmental laws under the UN Conferences on Climate Change (Montreal and Kyoto Protocols), there is strident opposition from the powerful industry lobbies, especially in the developed world, to such efforts. Their arguments are mainly based on the reliability of the predictions of the impending drastic global warming on the one hand, the exorbitant costs of meeting the new emission norms, and the impact of such costs on industry competitiveness and profitability. Competitiveness and profitability are at best comparative measures in a given set of circumstances. It has been proven time and again that compliance to laws is more economical than paying the penalties for an environmental disaster. ‘Polluter pays’ is now an accepted principle. If environmental laws are not fully implemented or are violated, the potential risk of unforeseen liability also has to be counted in the profitability calculations, and this was not being All calculations of competitiveness and profitability are reduced to nothing, and the very survival of a business is threatened, when it has to pay millions or billions of dollars as penalty for non-compliance. The Bhopal Gas Tragedy (dubbed as ‘Hiroshima of the Chemical Industry’), which killed more than 2000 and injured over 300,000 people, cost Union Carbide $500 millions (Pratima, 1998). This is a pittance since it occurred in India and would have run into several billions if it occurred in the USA. Exxon Valdez oil spill was of catastrophic proportions on marine life, with hundreds of thousands of birds killed, fish poisoned, and large-scale death of other marine life like seals, sea otters and whales. Exxon spent $ 2.2 billion in clean up operations, while the total cost was of the order of $ 4 billion (Thinkquest). The adverse publicity of such events through the print and electronic media can threaten the very survival of the concerned businesses. At individual level, consumers are concerned with the quality of their