Posing the important question of how environmental management may benefit firms, this book adopts a neutral stance towards the issue of the extent to which environmental issues should, or should not, be addressed within the context of the management of business corporations. This book includes an up-to-date treatment of business practices, norms and standards, using the tools of microeconomic and industrial organization analysis to provide an ordered and consistent picture. The analysis is couched within stakeholder theory, which determines how costs and benefits are defined for the firm. Utilizing the most recent information, the book also focuses on the underlying long-term trends, concluding that by highlighting the inevitable need to link environment and finance, better stakeholder relationships and business performance can be attained. Actual examples and case studies illustrate the discussion.