ISO 14000
ISO 14000 is a family of standards related to environmental management that exists to help organizations (a) minimize how their operations (processes, etc.) negatively affect the environment (i.e., cause adverse changes to air, water, or land); (b) comply with applicable laws, regulations, and other environmentally oriented requirements, and (c) continually improve in the above.

ISO 14000 is similar to ISO 9000 quality management in that both pertain to the process of how a product is produced, rather than to the product itself. As with ISO 9000, certification is performed by third-party organizations rather than being awarded by ISO directly.

ISO 14001 was developed primarily to assist companies with a framework for better management control that can result in reducing their environmental impacts. In addition to improvements in performance, organizations can reap a number of economic benefits including higher conformance with legislative and regulatory requirements (Sheldon 1997) by adopting the ISO standard.

By minimizing the risk of regulatory and environmental liability fines and improving an organization’s efficiency (Delmas 2009), benefits can include a reduction in waste, consumption of resources, and operating costs. Secondly, as an internationally recognized standard, businesses operating in multiple locations across the globe can leverage their conformance to ISO 14001, eliminating the need for multiple registrations or certifications (Hutchens 2010). Thirdly, there has been a push in the last decade by consumers for companies to adopt better internal controls, making the incorporation of ISO 14001 a smart approach for the long-term viability of businesses. This can provide them with a competitive advantage against companies that do not adopt the standard (Potoki & Prakash, 2005). This in turn can have a positive impact on a company’s asset value (Van der Deldt, 1997). It can lead to improved public perceptions of the business, placing them in a better position to operate in the international marketplace (Potoki & Prakash 1997; Sheldon 1997).

The use of ISO 14001 can demonstrate an innovative and forward-thinking approach to customers and prospective employees. It can increase a business’s access to new customers and business partners. In some markets it can potentially reduce public liability insurance costs. It can serve to reduce trade barriers between registered businesses (Van der Deldt, 1997). There is growing interest in including certification to ISO 14001 in tenders for public-private partnerships for infrastructure renewal. Evidence of value in terms of environmental quality and benefit to the taxpayer has been shown in highway projects in Canada.
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