DSST Business Ethics and Society 2

Or income with respect to the development

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or income with respect to the development, implementation and enforcement of environmental laws, regulations and policies 154) Acid Rain – rain that has a lower pH than normal rain a) When nitrogen and sulfur oxides combine with water in the atmosphere, they are converted to nitric and sulfuric acid a.i) Resulting in acid rain, acid snow, acid fog a.ii) Damaging effects include- respiratory disease, toxic metals into our drinking water, and decreasing atmospheric visibility 155) Greenhouse Effect – human activity has increased the concentration of carbon dioxide in air a) This has led to global warming, increase in temperature b) The warming of the Earth’s surface that is produced when solar heat becomes trapped by layers of carbon dioxide and other gases 156) Superfund Law – Comprehensive Environmental Response, Compensation and Liability Act – CERCLA – passed in 1980 a) To create a fund for use by the EPA and state, and local government in dealing with uncontrolled releases of hazardous wastes b) In most cases responsible parties are liable for the costs of cleaning hazardous waste c) Are required to notify the EPA immediately when such an accident occurs
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157) Alternative Dispute Resolution (ADR) – using methods other than litigation to settle environmental disputes 158) National Environmental Policy Act (NEPA) – requires federal agencies proposing “major federal actions affecting the quality of the human environment to submit “Environmental Impact Statements” a) Details the environmental effects of the action a.i) Examples: the building of a power plant a.ii) Leased federal land a.iii) New railroad construction 159) Risk Management – the process of reducing the threat of loss from uncontrollable events and funding potential losses a) Assess risk, control risk, and finance risk by shifting it to insurance or by self-insuring 160) Ozone – is generated naturally in a sequence generated by (UV) ultraviolet radiation a) Present in low concentrations and prevents about 98% of harmful UV rays from reaching the Earth b) Chlorofluorocarbon (CFC) - this chemical was demonstrated in research by Rowland and Molina in 1974, to be responsible for damaging the ozone layer 161) Cost Benefit Analysis – a comparison of the cost of an activity to its benefits a) Total costs are calculated and then compared to how much revenue, or other benefit will be gained b) Government uses Cost Benefit Analysis to see if the results of the policy are worth the money being spent b.i) Steps of policy making” (b.i.1) Agenda building (b.i.2) Formulation (b.i.3) Adoption (b.i.4) Implementation (b.i.5) Evaluation – where policy is analyzed to see how well it is working (b.i.6) Termination 162) Endangered Species Act - of 1973 – provides the conservation of species which are in danger of endangerment or extinction a) Protecting certain plants and animals from harm or significant changes to their habitat b) Endangered Species Act – makes it a federal crime to buy, sell, or possess any species officially endangered or threatened b.i)
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