Risk management is certainly one of the most important professional responsibilities of an engineer. As such, this activity needs to be combined with complex ethical reflections, and this requirement should therefore be explicitly integrated in engineering education. In this article, we analyse how this nexus between ethics and risk management is expressed in the engineering education research literature. It was done by reviewing 135 articles published between 1980 and March 1, 2016. These articles have been selected (...) from 21 major journals that specialize in engineering education, engineering ethics and ethics education. Our review suggests that risk management is mostly used as an anecdote or an example when addressing ethics issues in engineering education. Further, it is perceived as an ethical duty or requirement, achieved through rational and technical methods. However, a small number of publications do offer some critical analyses of ethics education in engineering and their implications for ethical risk and safety management. Therefore, we argue in this article that the link between risk management and ethics should be further developed in engineering education in order to promote the progressive change toward more socially and environmentally responsible engineering practices. Several research trends and issues are also identified and discussed in order to support the engineering education community in this project. (shrink)

Recently, international funding agencies and practitioners in the area of corporate social responsibility and small and medium enterprises have argued that microfinance institutions could promote the adoption of environmentally friendly business practices in microenterprises in developing countries. This article explores the potential and limitations of MFIs in promoting the spread of environmental risk management techniques and practices in microenterprises using a case study of an MFI-sponsored pilot program in this area in El Salvador. The author argues that (...) caution should be exercised about the role that MFIs can play in relation to inducing change to the environmentally harmful practices of micro-entrepreneurs. In fact, this study reveals that the MFI had some difficulties in building internal skills and reconciling its environmental and performance objectives, limiting its ability to assist microenterprises in the area of environmental management. Furthermore, the pilot program, as it was designed, did not sufficiently take into account the psychological and financial barriers that constrain micro-entrepreneurs’ capacity to engage in any meaningful environmental behavior change. Finally, factors such as the lack of an adequate legal framework and local infrastructure also countered the effort of the MFI and limited the potential of microenterprises for effectively engaging in environmental risk management practices. The article concludes by outlining the implications of this analysis for future research, policy, and practice in this area. (shrink)

The key concept in Business Ethics has changed from ‘corporate social responsibility’ to ‘integrated risk‐management’. This change, first wrought by American laws, has been extended to other countries through globalization. The most important laws concern corruption, anti‐trust, consumer safety, environmental protection and insider‐trading. The ‘Federal Corporate Sentencing Guidelines’ have particularly been helpful in identifying and valuing business risks. The author proposes a ‘next‐generation’ Business Ethics integrating personal, professional and organizational ethics in the context of an institutionalized, country‐sensitive (...) ‘corporate culture’. (shrink)

In this article, we examine how firms design executive compensation in light of their risk environment. Prior literature shows that corporate environmental responsibility (CER) of a firm inversely affects firm risk. We argue that firms with better CER performance benefit from the reduced firm risk, and therefore are more likely to provide greater managerial risk‐taking incentives to encourage the risk‐averse managers to undertake risk‐increasing but positive net present value (NPV) investments. Consistent with our (...) hypotheses, we find that a firm’s CER rating is positively associated with its CEO risk‐taking incentives (vega) in the following year. We also document cross‐sectional variations in the CER‐vega relationship, that is, a weaker association in the controversial industries. This study contributes to the literature by investigating the role of CER on executive compensation design from the perspective of risk management. (shrink)

Using the example of air pollution, I criticize a restricted utilitarian view of environmental risks. It is likely that damage to health due to environmental pollution in Western countries is relatively modest in quantitative terms (especially when considering cancer and comparing such damage to the effects of some life-style exposures). However, a strictly quantitative approach, which ranks priorities according to the burden of disease attributable to single causes, is questionable because it does not consider such aspects as inequalities (...) in the distribution of risks. Secondly, the ability of epidemiological research to identify some health effects is limited. Third, the environment has symbolic and aesthetic components that overcome a strict evaluation of damage based on the impairment of human health. It is not acceptable that priorities be set just balancing the burden of disease caused by pollution in the environment against economic constraints. As an example of a computation that inherently includes economic analysis, I refer to the proposal of an estimator of mortality in coal mining, i.e., a rate which puts deaths in the numerator and tons of coal extracted in the denominator. According to this estimator, mortality due to accidents decreased from 1.15 to 0.42 in the period 1950–1970 in the United States, for each million tons of coal extracted. However, considering the steep decline in the workforce in the same period, the traditional mortality rate (deaths over persons-time) actually increased. The proposal of a measure of mortality based on the amount of coal extracted is just one example of the attempts to influence decisions by including an economic element (productivity) in risk assessment. This paper has three purposes: One, to describe empirical research concerning the health effects of environmental pollutants; two, to discuss the scientific principles and methods used in the identification of environmental hazards; and three, to critically discuss some of the ethical principles which are applied in medicine and in the assessment and management of risk. (shrink)

Social decision-making involving risks ideally results in obligations to avoid expected harms or keep them within acceptable limits. Ambitious goals aimed at avoiding or greatly reducing risks might not be feasible, forcing the acceptance of higher degrees of risk (i.e. unrealistic levels of risk reduction are revised to comport with beliefs regarding abilities). In this paper, the philosophical princi- ple ‘ought implies can’ is applied to the management of complex risks, exempli- fied by the risks associated with (...) climate change. In its common interpretation, the principle states that we cannot expect an agent to perform something that lies beyond his or her abilities. However, it is here argued that this principle requires setting thresholds for legitimate claims of inabilities that justify the waiving of normative demands. This paper discuss three claims: (1) that caution is required before revising a risk-reducing goal that is perhaps exceedingly ambitious; (2) that claims on abilities are not only descriptive, but also value-laden; and (3) that the function of a goal has to be clarified before risk-reducing goals are revised. Risk-reducing goals that initially seem unrealistic arguably serve performance- enhancing purposes in risk management. Neglecting such goals could lead to choosing less desirable, but certainly feasible, risk-reducing goals. (shrink)

Using the work of Jacques Ellul on technique and its development, this paper criticizes the technological risk management discourse, which claims that risks are “managed” within reasonable limits. In fact, the inevitability of technological change and the uncertainty associated with technology-induced environmental risks, some of which are still totally unknown, undermine the very possibility of democratic governance of risk. Our reliance on technique and the common belief in its infallibility make it particularly arduous to the follow (...) the path showed by Ellul. (shrink)

A sample survey of members of the Association of Environmental and Resource Economists (AERE) found relatively low rates of obvious ethical misconduct, such as data fabrication and falsification, and higher rates of dubious behaviors, such as deliberate overstatement of positive and understatement of negative results. AERE members reported that job-related pressures-including competition with peers, pressure due to professional implication and on-the-job pressure-were the most important causes. The most effective preventive measures, according to respondents, were discussion of ethics in existing (...) classes, codes of ethics, and short courses at professional meetings. The vast majority of AERE members were against government audits and regulations. (shrink)

It is widely recognized that endocrine disrupting compounds, such as Bisphenol A, pose challenges for traditional paradigms in toxicology, insofar as these substances appear to have a wider range of low-dose effects than previously recognized. These compounds also pose challenges for ethics and policymaking. When a chemical does not have significant low-dose effects, regulators can allow it to be introduced into commerce or the environment, provided that procedures and rules are in place to keep exposures below an acceptable level. This (...) option allows society to maximize the benefits from the use of the chemical while minimizing risks to human health or the environment, and it represents a compromise between competing values. When it is not possible to establish acceptable exposure levels for chemicals that pose significant health or environmental risks, the most reasonable options for risk management may be to enact either partial or complete bans on their use. These options create greater moral conflict than other risk management strategies, leaving policymakers difficult choices between competing values. (shrink)

Factory floors throughout the global economy are rapidly transforming themselves into potentially fertile laboratories for research in the cognitive sciences. The information revolution has challenged our understanding of perception and cognition. Innovations in information technologies have also provided us with new methods and environments for the study of cognition. On the business and economic front, information technology is supporting the development of new corporate information systems-Enterprise Systems-that will revolutionize the decision-making, reporting and reward environments in corporations. These systems are pervasive (...) and transforming. At all levels, employees will be presented with potentially unlimited amounts of accurate, real-time information and will be expected to use that information effectively. The possibilities for research, especially for modeling the learning and decision-making processes, are unparalleled. Research conducted in these environments offers extraordinary opportunities to address research questions formerly requiring limited synthetic environmental situations. Data collected in firms as they deploy enterprise information systems can be more extensive and accurate and more easily quantified than data from traditional synthetic experiments. Research programs in these settings can also address more complex problems of human interaction and collaborativity. This article describes the aspects of enterprise systems that will be of greates interest to cognitive scientists. It also outlines the nature of potential collaboration between economists and cognitive scientists and offers a list of outstanding questions for systems design and development. (shrink)

When developing computational models to analyze the tradeoffs between climate risk management strategies (i.e., mitigation, adaptation, or geoengineering), scientists make explicit and implicit decisions that are influenced by their beliefs, values and preferences. Model descriptions typically include only the explicit decisions and are silent on value judgments that may explain these decisions. Eliciting scientists’ mental models, a systematic approach to determining how they think about climate risk management, can help to gain a clearer understanding of their (...) modeling decisions. In order to identify and represent the role of values, beliefs and preferences on decisions, we used an augmented mental models research approach, namely values-informed mental models (ViMM). We conducted and qualitatively analyzed interviews with eleven climate risk management scientists. Our results suggest that these scientists use a similar decision framework to each other to think about modeling climate risk management tradeoffs, including eight specific decisions ranging from defining the model objectives to evaluating the model’s results. The influence of values on these decisions varied between our scientists and between the specific decisions. For instance, scientists invoked ethical values (e.g., concerns about human welfare) when defining objectives, but epistemic values (e.g., concerns about model consistency) were more influential when evaluating model results. ViMM can (i) enable insights that can inform the design of new computational models and (ii) make value judgments explicit and more inclusive of relevant values. This transparency can help model users to better discern the relevance of model results to their own decision framing and concerns. (shrink)

Although much attention has been given to the role of community stakeholders in developing environmental risk- management policies, most local and national initiatives are better known for their failings than their successes. One reason for this continuing difficulty, we contend, is a reluctance to address the many difficult value trade-offs that necessarily arise in the course of creating and evaluating alternative risk- management options. In this paper we discuss six reasons why such trade-offs are difficult (...) and, for each, present helpful techniques from the decision sciences along with case study examples of successful applications. (shrink)

In this paper, we study the impact of CEO and board gender diversity on the risk management decisions of 179 U.S. Real Estate Investment Trusts (REITs) during the 2001–2018 period. Using a bottom-up analysis on the properties in REIT portfolios, we find significant risk reduction associated with gender-diverse REIT leadership. We document that REITs with a woman CEO, in combination with more women on the board, display less active trading and a longer hold period for assets. In (...) addition, REITs with more gender-diverse leadership are more geographically focused, which for REITs is considered a lower risk investment strategy. Finally, REITs with more gender-diverse leadership are more actively investing in environmentally sustainable real estate. We conclude that gender diversity in real estate firms carries real-life implications for U.S. cities, given their key role as developers, owners, and operators of the built world. (shrink)

Prior research suggests that voluntary environmental governance mechanisms operate to enhance a firm’s environmental legitimacy as opposed to being a driver of proactive environmental performance activities. To understand how these mechanisms contribute to the firm’s environmental legitimacy, we investigate whether environmental corporate governance characteristics are associated with voluntary environmental disclosure. We examine an increasingly important attribute of a firm’s disclosure setting, namely the disclosure of greenhouse gas (GHG) information. GHG information represents proprietary non-financial information (...) about the firm’s exposure to environmental concerns and is related to the firm’s operations and future profitability. Thus, we expect governance participants would view such information as a potentially important strategic device for managing stakeholders’ demands for information concerning environmental risks. We find that the presence of an environmental committee and a Chief Sustainability Officer (CSO) is positively associated with the likelihood of GHG disclosure and that CSOs are associated with disclosure transparency. Further analysis reveals that the likelihood of disclosure is associated with committee size, number of committee meetings, expertise of committee members and CSO, and overlap between the environmental committee and audit committee. Only expertise of the environmental committee members and the CSO are associated with GHG disclosure transparency, while larger committees tend to be associated with lower transparency. Our results are particularly important to those with interests in evaluating the potential role that corporate governance mechanisms play in responding to stakeholder concerns about environmental risks. Directors and officers who are considering appointment to similar governance positions, may wish to consider what attributes would make such governance positions more influential. (shrink)

We make many decisions in our livesand we weigh the benefits against thedrawbacks. Our decisions are based on whatbenefits are most important to us and whatdrawbacks we are willing to accept. Decisionsabout what we eat are made in the same way; butwhen it comes to safety, our decisions areusually made more carefully. Food containsnatural chemicals and it can come into contactwith many natural and artificial substancesduring harvest, production, processing, andpreparation. They include microorganisms,chemicals, either naturally present or producedby cooking, environmental (...) contaminants, andpesticides. Since the chance of being harmed bythese potential hazards is called risk, riskanalysis might be better termed as the scienceof safety, because risk management is anessential part of it. It would, however, bedifficult and shortsighted to maintain thatquestions about risk and safety can have nomoral dimension. Risk and safety become mattersof moral concern when they raise furtherquestions about responsibility, accountability,and justifiability. The question of risk cannotbe ignored in any ethical investigation ofgenetic engineering, novel foods, animalwelfare, and individual choices. However, foodis more than metabolic fuel. It hasphysiological, psychological, social, cultural,and aesthetic associations that merge to form agestalt that people endanger and maintain. Thecontribution of any food towards anindividual's well being is as complex as theindividual himself. In this context, thebenefits of consuming food that containshazards may outweigh the risk. (shrink)

Food allergy represents an increasing public health issue, and a large number of food control authorities have provided regulations aimed to minimize the risk of allergic reaction for sensitized consumers. The Food and Agriculture Organization of the United Nations together with the World Health Organization established the Codex Alimentarius Commission whose main goal is to protect the consumers’ health. To purse this task the Commission listed the foods and ingredients causing the most severe allergic reactions that should be labelled. (...) It has been reported that some cases of specific foods hypersensitivity display a different prevalence among different Countries. Thus, the European Union drew up a list of mandatory allergens longer than that provided by Codex Alimentarius. As a consequence of the complexity of the legal phraseology of the European Union and/or European Community the Regulations and/or Directives were differently translated in all EC/EU official languages determining possible misinterpretations of the legislation. Moreover, food labelling regulations were also established with the goal to promote the consumers’ conscious choice about what they eat. Starting from the case of the fermented beverages, we analysed the European legislative scenario concerning the allergen labelling of the last fifteen years, highlighting that mistranslations, misinterpretations and lack of information in the EU Regulations might lead to health and ethical issues. (shrink)

We make many decisions in our livesand we weigh the benefits against thedrawbacks. Our decisions are based on whatbenefits are most important to us and whatdrawbacks we are willing to accept. Decisionsabout what we eat are made in the same way; butwhen it comes to safety, our decisions areusually made more carefully. Food containsnatural chemicals and it can come into contactwith many natural and artificial substancesduring harvest, production, processing, andpreparation. They include microorganisms,chemicals, either naturally present or producedby cooking, environmental (...) contaminants, andpesticides. Since the chance of being harmed bythese potential hazards is called risk, riskanalysis might be better termed as the scienceof safety, because risk management is anessential part of it. It would, however, bedifficult and shortsighted to maintain thatquestions about risk and safety can have nomoral dimension. Risk and safety become mattersof moral concern when they raise furtherquestions about responsibility, accountability,and justifiability. The question of risk cannotbe ignored in any ethical investigation ofgenetic engineering, novel foods, animalwelfare, and individual choices. However, foodis more than metabolic fuel. It hasphysiological, psychological, social, cultural,and aesthetic associations that merge to form agestalt that people endanger and maintain. Thecontribution of any food towards anindividual's well being is as complex as theindividual himself. In this context, thebenefits of consuming food that containshazards may outweigh the risk. (shrink)

To date, the value of corporate social responsibility (CSR) activities has primarily been measured through the company’s reputation, with little attention given to exploring whether there are internal influences between CSR and other management practices. We argue that the efficacy of CSR extends beyond a company’s reputation for managing social and environmental concerns; in particular, it can influence other business practices such as risk management. Our results suggest that (a) overall, firms with better CSR performance are (...) more likely to adopt integrated risk management practices and (b) CSR activities that target both primary stakeholders and secondary stakeholders are equally important in facilitating the adoption of such risk management practices. Theoretically, we contribute to the CSR literature by providing a possible mechanism for risk reduction and insurance-like effects of CSR. Practically, we provide managerial implications demonstrating that the efficacy of CSR should not be viewed in isolation of other business practices. (shrink)

Avalanche studies have undergone a transition in recent years. Early research focused mainly on environmental factors. More recently, attention has turned to human factors in decision making, such as behavioural and cognitive biases. This article adds a social component to this human turn in avalanche studies. It identifies lessons for decision making by groups of skiers from the perspective of social choice theory, a sub-field of economics, decision theory, philosophy and political science that investigates voting methods and other forms (...) of collective decision making. In the first part, we outline the phenomenon of wisdom of crowds, where groups make better decisions than their individual members. Drawing on the conceptual apparatus of social choice theory and using idealised scenarios, we identify conditions under which wisdom of crowds arises and also explain how and when deciding together can instead result in worse decisions than may be expected from individual group members. In the second part, we use this theoretical understanding to offer practical suggestions for decision making in avalanche terrain. Finally, we make several suggestions for risk management in other outdoor and adventure sports and for outdoor sports education. (shrink)

ESG-transformation is taking place in all areas of the economy. Banks must become examples and guides in conducting business in an environmentally, socially and governance manner. The purpose of the study is to substantiate the need to determine the correct course and implement the principles of ESG-banking, including in the practice of risk management of commercial banks, taking into account the long-term consequences of today's actions for global economic and natural systems. Scientific novelty lies in the development of (...) incentive measures and support for ESG-banking, taking into account the analysis of world experience. As a result, the validity of the introduction of ESG-banking and ESG-risk management, their impact on increasing stability in the country's economic sector has been proved. The article identifies the limitations that are most relevant for the Russian market due to the novelty of the ESG-concept in the domestic banking sector. (shrink)

Discussions of science and values in risk management have largely focused on how values enter into arguments about risks, that is, issues of acceptable risk. Instead this volume concentrates on how values enter into collecting, interpreting, communicating, and evaluating the evidence of risks, that is, issues of the acceptability of evidence of risk. By focusing on acceptable evidence, this volume avoids two barriers to progress. One barrier assumes that evidence of risk is largely a matter (...) of objective scientific data and therefore uncontroversial. The other assumes that evidence of risk, being "just" a matter of values, is not amenable to reasoned critique. Denying both extremes, this volume argues for a more constructive conclusion: understanding the interrelations of scientific and value issues enables a critical scrutiny of risk assessments and better public deliberation about social choices. The contributors, distinguished philosophers, policy analysts, and natural and social scientists, analyze environmental and medical controversies, and assumptions underlying views about risk assessment and the scientific and statistical models used in risk management. (shrink)

In this study, we examine the relation between corporate environmental responsibility and risk in U.S. public firms. We develop and test the risk-reduction, resource-constraint, and cross-industry variation hypotheses. Using an extensive U.S. sample during the 1991–2012 period, we find that for U.S. industries as a whole, CER engagement inversely affects firm risk after controlling for various firm characteristics. The result remains robust when we use firm fixed effect or an alternative measure of CER using principal component (...) analysis or downside risk measures. To address the concern of endogeneity bias, we use a system equations approach and dynamic system generalized methods of moment regressions, and continue to find that environmentally responsible firms experience lower risk. These findings support the risk-reduction hypothesis, but not the resource-constraint hypothesis, along with the notion that the top management in U.S. firms is generally risk averse and that their CER engagement facilitates their risk management efforts. Our cross-industry analysis further reveals that the inverse CER-risk association mainly comes from the manufacturing sector, whereas in the service sector, CER tends to increase firm risk. (shrink)

Amongst the environmental and social externalities generated by Australian agriculture are a number of risks both to the health and safety of communities living near sites of agricultural production, and to the end consumers of agricultural products. Responses to these potential risks – and to problems of environmental sustainability more generally – have included a number of programs to variously: define “best-practice” for particular industries; implement “Quality Assurance” procedures; and encourage the formation of self-help community “Landcare” groups. Taken (...) together, these programs appear to deal comprehensively with both the social and environmental risks associated with agricultural production and products. However, these programs may also be interpreted as strategies that actually encourage the further intensification of agriculture, while attempting to reassure consumers that their food is safe and that farmers are doing “all they can” to protect the environment. Investigation of the Australian cotton and beef industries illustrates a number of strategies that have become evident between farmers, agri-science agencies, and the retail sector to manage these risks and define good farming practices in ways that satisfy their own perceived interests. Contrary to the image, therefore, of “green consumption” that is emerging as an integrated concern for “clean” (and thereby “healthy”) and sustainably produced foods, it appears that mainstream agricultural industries have bifurcated these concerns in ways that distract attention from production and processing methods, leaving conflict over on-farm production methods a characteristic only of those industries believed to have direct health impacts on nearby communities. (shrink)

The present study aimed at investigating the heavy metals concentrations in the soils around “Larga de Sus” abandoned mine, evaluating the potential ecological risk of heavy metal pollution and highlighting ethical aspects related to risk assessment, ecological restoration, and soil remediation. The results of the chemical analysis showed that the soil in the study area is highly polluted with heavy metals since the average concentrations of Pb, and Ni in soil exceed their corresponding threshold established by the Romanian (...) legislation. The potential ecological risk index method developed by Hakanson was used to assess the potential risk of heavy-metal pollution. The results indicated that Pb and Ni showed severe and considerable potential ecological risk, while Cr had lightly ecological risk. In this case, remediation should be focused only on Pb or on all heavy metals even if they have lightly ecological risk? A scientific management technique cannot logically prescribe which choices should be selected. The interaction between human activity and the environment is complicated and difficult to quantify and risk management cannot and should not be based simply on risk assessment results. What is needed to make the right choice of the most appropriate alternative that fits our personality, culture, religion, and desires? The moral and ethical implications of ecological restoration and soil remediation have to be incorporated within the decision-making process in order to make optimum sustainable decisions and to achieve real environmental protection. (shrink)

The present study aimed at investigating the heavy metals concentrations in the soils around “Larga de Sus” abandoned mine (Zlatna, Romania), evaluating the potential ecological risk of heavy metal pollution and highlighting ethical aspects related to risk assessment, ecological restoration, and soil remediation. The results of the chemical analysis showed that the soil in the study area is highly polluted with heavy metals since the average concentrations of Pb (32.4–2318.1 mg/kg), and Ni (321.6–562.8 mg/kg) in soil exceed their (...) corresponding threshold established by the Romanian legislation. The potential ecological risk index method developed by Hakanson was used to assess the potential risk of heavy-metal pollution. The results indicated that Pb and Ni showed severe and considerable potential ecological risk, while Cr had lightly ecological risk. In this case, remediation should be focused only on Pb or on all heavy metals even if they have lightly ecological risk? A scientific management technique cannot logically prescribe which choices should be selected. The interaction between human activity and the environment is complicated and difficult to quantify and risk management cannot and should not be based simply on risk assessment results. What is needed to make the right choice of the most appropriate alternative that fits our personality, culture, religion, and desires? The moral and ethical implications of ecological restoration and soil remediation (e.g. tolerance of uncertainty, responsibility, moral duty, etc.) have to be incorporated within the decision-making process in order to make optimum sustainable decisions and to achieve real environmental protection. (shrink)

We examine the link between a firm’s environmental and social disclosures and measures of its risk including total, systematic, and idiosyncratic risk. While we do not find any link between a firm’s E and S disclosures and its systematic risk, we find a negative and significant association between these disclosures and a firm’s total and idiosyncratic risk. These are novel findings and are consistent with the predictions of the stakeholder theory and the resource-based view of (...) the firm suggesting that firms which make extensive and objective E and S disclosures promote corporate transparency that can help them build a positive reputation and trust with their stakeholders. This in turn can help mitigate the firms' idiosyncratic/operational risk. These findings are important for all corporate stakeholders including managers, employees, and suppliers who have a significant economic interest in the survival and success of the firm. (shrink)

Although various studies have shown thatfarmers believe there is the need for a producer-ledinitiative to address the environmental problems fromagriculture, farmers in several Canadian provinceshave been reluctant to widely participate inEnvironmental Farm Plan (EFP) programs. Few studieshave examined the key issues associated with adoptingEFP programs based on farmers', as opposed to policymakers', perspectives on why producers are reluctantto participate in the program. A study adapting VanRaaij's (1981) conceptual model of the decision-makingenvironment of the firm, and prospect theory on valuefunctions (...) associated with the gains and losses fromrisky choices can be used to characterize how farmersperceive potential risks in environmental farmplanning. This framework can be used to assert thatfarmers are concerned about risks of public disclosureof potentially incriminating environmental informationfrom farms because the EFP program requirements foridentification and extensive documentation of farminformation is perceived by farmers as facilitatingthe accessibility of environmental information to thepublic, and public investigative efforts. Although theEFP program does not explicitly generate informationabout the environmental conditions of a farm nor thedisclosure of such information to the public, itcreates the possibility of generating and divulgingpotentially incriminating information that the farmermay want to treat as confidential. Yet, alone, theserisks of public disclosure concerns should not preventfarmers from participating in the EFP. Awareness ofand participation in environmental farm planning canbe increased if farmers and policy makers understandwhat the risks are, and how they arise. Aspects of theEFP process that have the potential to generate riskof public disclosure concerns relate to farm reviews,documentation and record keeping, and correctiveaction plans. There are legal and policy instrumentsthat can offer various forms of protection and helpminimize such risks, and these need to be assessed. (shrink)

With the improvement of citizens’ risk perception ability and environmental protection awareness, social conflicts caused by environmental problems in large-scale construction projects are becoming more and more frequent. Traditional social risk prevention management has some defects in obtaining risk data, such as limited coverage, poor availability, and insufficient timeliness, which makes it impossible to realize effective early warning of social risks in the era of big data. This paper focuses on the three environments of (...) diversification of stakeholders, risk media, and big data era. The evolution characteristics of the social risk of environmental damage of large-scale construction projects are analyzed from the four stages of incubation, outbreak, mitigation, and regression in essence. On this basis, a social risk early warning model is constructed， and the multicenter network governance mode of social risk of environmental damage in large-scale construction projects and practical social risk prevention strategies in different stages are put forward. Experiments show that the long short-term memory neural network model is effective and feasible for predicting the social risk trend of environmental damage of large-scale construction projects. Compared with other classical models, the long short-term memory model has the advantages of strong processing capability and high early warning accuracy for time-sensitive data and will have broad application prospects in the field of risk control research. By using the network governance framework and long short-term memory model, this paper studies the environmental mass events of large-scale construction projects on the risk early warning method, providing reference for the government to effectively prevent and control social risk of environmental damage of large-scale construction project in China. (shrink)

The question of how an individual firm's social and environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decrease its market risk or is environmental performance just a disadvantageous cost that increases such risk levels for these firms? Answers to this question have important implications for the management of companies and the investment decisions of individuals and institutions. (...) The purpose of this paper is to examine the relationship between corporate environmental performance and firm risk in the British context. Using the largest dataset assembled so far, with community and environmental responsibility (CER) rankings for all rated UK companies between 1994 and 2006, we show that a company's environmental performance is inversely related to its systematic financial risk. However, an increase of 1.0 in the CER score is associated with only a 0.028 reduction in its β. (shrink)

The question of how an individual firm's social and environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decrease its market risk or is environmental performance just a disadvantageous cost that increases such risk levels for these firms? Answers to this question have important implications for the management of companies and the investment decisions of individuals and institutions. (...) The purpose of this paper is to examine the relationship between corporate environmental performance and firm risk in the British context. Using the largest dataset assembled so far, with community and environmental responsibility (CER) rankings for all rated UK companies between 1994 and 2006, we show that a company's environmental performance is inversely related to its systematic financial risk. However, an increase of 1.0 in the CER score is associated with only a 0.028 reduction in its β. (shrink)

This paper examines a struggle over the future use of Nordic forests, which took place from 2009 to 2012 within a major research program, Future Forests—Sustainable Strategies under Uncertainty and Risk, organized and funded by Mistra, The Swedish Foundation for Strategic Environmental Research. We explore the role of strategic environmental research in societal constructions of long-term challenges and future risks. Specifically, we draw attention to the role played by environmental research in the creation of future images (...) that become dominant for how societies structure action for the long term. We also show that this process is on several accounts problematic. Research labeled “strategic” or “relevant” is intended to manage long-term risks and challenges in a sustainable way, by taking into account the “open” and “plural” nature of the future. The case of Future Forests suggests, rather, that by contributing to the emergence of dominant future images, environmental research is entangled with a process of gradual consensus creation around what may be highly selective or biased narratives of the long term, which may conceal or postpone key forms of future conflict. (shrink)

Prior research suggests that Corporate Environmental Performance enables businesses to build strong corporate image and reputation, thus leading to improved firm financial performance. However, studies relating to the relationship between CEP and firm risk are scarce. This research intends to bridge the gap in the literature by examining whether CEP helps firms to reduce their financial risk. Results of the Ordinary Least Squares regression with fixed effects provide strong evidence that environmental performance is negatively associated with (...) firm volatility and firm downside risk. The results are robust after controlling for moderating effects such as financial, institutional and environmental management. (shrink)

Discussions of socioeconomic liability and compensation must necessarily start from an understanding of the socioeconomic, legal, and scientific basis for identifying, assessing, managing, and apportioning blame for hazards related to innovations. Public discussions about the nature of the liability challenge related to genetically modified (GM) crops and other modified organisms have focused less on direct, traditional health, public safety, technical, or environmental failures (e.g., innovations that generate hazards directly for users or indirectly to bystanders) and more on socioeconomic concerns, (...) such as comingled product that offends product quality standards. This article examines the theoretical and legal underpinnings of the current risk analysis framework used in most Organization for Economic Cooperation and Development countries and uses it to assess two areas of significant controversy—the release of herbicide-tolerant canola and flax varieties in Western Canada. The article offers lessons for the management of liabilities arising from the introduction of GM crops. (shrink)

In recent years, development practice has seen that microfinance institutions are starting to consider their environmental bottom line in addition to their financial and social objectives. Yet, little is known about the characteristics of institutions involved in environmental management. This paper empirically identifies the characteristics of these MFIs for the first time using a sample of 160 microfinance institutions worldwide. Basing our analysis on various econometric tests, we find that larger MFIs and MFIs registered as banks tend (...) to perform better in environmental policy and environmental risk assessment. Furthermore, more mature MFIs tend to have better environmental performances, in particular in providing green microcredit and environmental non-financial services. On the other hand, financial performance is not significantly related to environmental performance, suggesting that ‘green’ MFIs are not more or less profitable than other microfinance institutions. (shrink)

Ulrich Beck's best selling Risk Society established risk on the sociological agenda. It brought together a wide range of issues centering on environmental, health and personal risk, provided a rallying ground for researchers and activists in a variety of social movements and acted as a reference point for state and local policies in risk management. The Risk Society and Beyond charts the progress of Beck's ideas and traces their evolution. It demonstrates why the (...) issues raised by Beck reverberate widely throughout social theory and covers the new risks that Beck did not foresee, associated with the emergence of new technologies, genetic and cybernetic. The book is unique because it offers both an introduction to the main arguments in Risk Society and develops a range of critical discussions of aspects of this and other works of Beck. (shrink)

In recent years, a great deal of evidence has accumulated on the health risks and environmental impacts of some herbicides. Both conventional agriculture and agroecology are searching for alternatives to address the challenges posed by the consequences of herbicide use. In this search, peasant and indigenous agroecosystems have much to contribute since their crops evolved thousands of years ago together with diverse communities of weeds, and farmers have carried out sophisticated strategies to manage them. Through participant observation, semi-structured interviews, (...) free lists, and botanical collection, we document a milpa design that integrates and manages spontaneous vegetation to take advantage of its presence and minimize risks of crop loss. The objective of this article is to critically contrast agroecological mechanisms in this milpa design which matches the prevention principle with a set of recommendations recognized as preventive in conventional weed science. (shrink)

This volume bridges contemporary philosophical conceptions of risk and responsibility and offers an extensive examination of the topic. It shows that risk and responsibility combine in ways that give rise to new philosophical questions and problems. Philosophical interest in the relationship between risk and responsibility continues to rise, due in no small part due to environmental crises, emerging technologies, legal developments, and new medical advances. Despite such interest, scholars are just now working out how to conceive (...) of the links between risk and responsibility, the implications that risks may have to conceptions of responsibility (and vice versa), as well as how such theorizing might play out in applied cases. With contributions from leading scholars, this volume brings together new work examining the interplay between risk and responsibility, exploring its varied philosophical aspects and applications to contemporary issues in law, bioethics, technology, and environmental ethics. Risk and Responsibility in Context will be of interest to philosophers working in ethics, bioethics, philosophy of law, and philosophy of technology, as well as scholars and practitioners in law, health and science management, public policy, and environmental studies. (shrink)

How can we determine an acceptable level of risk? Should these decisions be made by experts, or by the people they affect? How should safety and security be balanced against other goods, such as liberty? This is the first collection to examine the philosophical dimensions of these pressing practical problems. Leading scholars exploring the full range of philosophical implications of risk, including: risk and ethics risk and rationality risk and scientific expertise risk and lay (...) knowledge the objectivity of risk assessment risk and the precautionary principle risk and terror. With contributions from Carl F. Cranor, Sven Ove Hansson, Martin Kusch, Tim Lewens, D.H. Mellor, Adam Morton, Stephen Perry, Martin Peterson, Alan Ryan, Per Sandin, Cass R. Sunstein and Jonathan Wolff; this collection is essential reading, not only for philosophers and researchers in legal, economic and environmental studies, but for those seeking to gain a better understanding of the decisions we must make as concerned citizens. (shrink)

This book analyses the war against drugs, violence in streets, schools and families, and mining conflicts in Latin America. It examines the nonviolent negotiations, human rights, peacebuilding and education, explores security in cyberspace and proposes to overcome xenophobia, white supremacy, sexism, and homophobia, where social inequality increases injustice and violence. During the past 40 years of the Latin American Council for Peace Research (CLAIP) regional conditions have worsened. Environmental justice was crucial in the recent peace process in Colombia, but (...) also in other countries, where indigenous people are losing their livelihood and identity. Since the end of the cold war, capitalism aggravated the life conditions of poor people. The neoliberal dismantling of the State reduced their rights and wellbeing in favour of enterprises. Youth are not only the most exposed to violence, but represent also the future for a different management of human relations and nature. (shrink)

Contemporary law and government are increasingly characterized by a focus on risk. Fields such as health, psychiatry, criminal justice, vehicle safety, urban design and environmental governance all provide examples of settings in which problems are dealt with as risks. In this volume, the most influential examinations and interpretations of this major trend have been brought together, in order to make clear the range and diversity, the spread and penetration of risk in contemporary societies.

What is risk? How do we assess risk? What are the ethical implications of risk? The concept of risk is important – sometimes even crucial – for many philosophical domains, from philosophy of science and technology to ethics and sustainability. Philosophy and Science of Risk is a clear, wide-ranging introduction to this urgent and fast-growing subject. It covers the following key topics: -/- • The philosophical and historical background to understanding and interpreting risk -/- (...) • The meaning of risk and how it differs from closely related concepts, such as uncertainty or dangers -/- • The social construction of risk -/- • Risk perception and risk as an object of scientific study -/- • The measurement of risk, its probability and severity -/- • Risk and scientific modeling -/- • Risk, value judgments, and expertise -/- • Risk management, including cost-benefit analysis and the precautionary approach -/- • Risk communication, including deliberative models -/- • Ethics of risk, including duties toward nonhuman animals and future generations -/- • Risk and sustainability -/- • Decision-making under risk -/- Including helpful additional features such as text boxes, chapter summaries, review, and discussion questions, Philosophy and Science of Risk: An Introduction is an ideal textbook for students of the philosophy of risk. It is also suitable for students studying the conceptual questions surrounding risk in related subjects, such as sociology, psychology, economics, politics, geography, sustainability, and environmental studies. (shrink)

I read with interest the article by Grill and Hansson1 on epistemic paternalism in public health. It focuses on the important issue of the patient’s right to know and receive information about uncertain threats to public health. However, health and environmental scientists, professional risk managers and the general public strongly disagree about the seriousness of many risks.2 Moreover, risk is an intricate concept to give information about.There are framing effects, ….

As the world’s population grows and urbanization continues, the global waste crisis is becoming more severe, especially in developing countries. Without proper waste management, they may encounter various environmental and health risks. Biological technologies are regarded as promising waste management and recycling approaches in developing countries due to their cost-effectiveness and capability to handle diverse waste categories. One prominent technology in this aspect is the vermicomposting of organic waste utilizing the black soldier fly larvae. Nevertheless, significant financial (...) resources are still necessary to advance and expand biological waste treatment, which requires the participation of businesses. By examining waste management companies listed on the Vietnamese stock market, we highlight two challenges that hinder the adoption and scaling of the waste treatment system using black soldier flies and potentially other biological technologies in Vietnam. Specifically, the business regards the environmental services they offer primarily as a means to generate profit rather than as a genuine commitment to environmental preservation, and the values of companies operating in the environmental sector, particularly in waste management, have been significantly undervalued by the Vietnamese investing public. Therefore, we advocate for societal shifts toward the eco-surplus culture and apply the semiconducting principle of monetary and environmental values exchange to address the problem. (shrink)

This study examines the application of a qualitative Ecological Risk Assessment tool to initiate management planning and community engagement in newly legislated Marine Protected Areas. Scientists and the agency expected the participatory element to increase the legitimacy of management by achieving consensus about management priorities as well as to engender trust in science and agency procedures. We point to the complex nature of participatory engagement when expert and lay knowledge are combined while an agency's claim to (...) legitimacy rests on scientific judgements. While community engagement offered agency staff an additional way to claim legitimacy it also challenged the way planners, rangers as well as community representatives previously attained trust. (shrink)

Genetic engineering techniques (e.g., CRISPR-Cas) have led to an increase in biotechnological developments, possibly leading to uncertain risks. The European Union aims to anticipate these by embedding the Precautionary Principle in its regulation for risk management. This principle revolves around taking preventive action in the face of uncertainty and provides guidelines to take precautionary measures when dealing with important values such as health or environmental safety. However, when dealing with ‘new’ technologies, it can be hard for (...) class='Hi'>risk managers to estimate the societal or environmental consequences of a biotechnology that might arise once introduced or embedded in society due to that these sometimes do not comply with the established norms within risk assessment. When there is insufficient knowledge, stakeholders active in early developmental stages (e.g., researchers) could provide necessary knowledge by conducting research specifically devoted to what these unknown risks could entail. In theory, the Safe-by-Design (SbD) approach could enable such a controlled learning environment to gradually identify what these uncertain risks are, to which we refer as responsible learning. In this paper, we argue that three conditions need to be present to enable such an environment: (1) regulatory flexibility, (2) co-responsibility between researchers and regulators, and (3) openness towards all stakeholders. If one of these conditions would not be present, the SbD approach cannot be implemented to its fullest potential, thereby limiting an environment for responsible learning and possibly leaving current policy behind to anticipate uncertain risks. (shrink)

Rescher's 1983 study of risk analysis marks an important departure from game theory in that philosophical foundations for risk are neither formal nor implicit, But explicitly defined objective properties. Rescher's claim that these foundations are ontological fails, However. His ontology is internally inconsistent. Furthermore, Risk is always interest relative, Making it impossible to remove epistemological considerations entirely from any account of its foundations.

Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money (...) aspiration as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth: Pay satisfaction mitigates dishonesty across nations consistently. Based on 6500 managers in 32 countries, our cross-level three-dimensional visualization offers the following discoveries. Under high aspiration conditions, pay dissatisfaction excites the highest- (third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations, supporting the certainty effect. However, pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities, sustaining the possibility effect—maximizing expected utility. Under low aspiration conditions, high pay satisfaction consistently leads to low dishonesty, demonstrating risk aversion—achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations. We enhance the S-shaped Curve to three 3-D corruption surfaces across three levels of the global economic pyramid, providing novel insights into behavioral economics, business ethics, the environment, and responsibility. (shrink)