Pollution Prevention
Economic activities can be the source of significant pollution to air, water and land, adversely affecting the health of living beings and the resources which sustain life. Pollution can be defined as the introduction of contaminants. Pollution can take the form of chemical substances or energy, such as noise, heat or light. Pollutants can be either substances/energies or naturally occurring contaminants.
Companies should focus on opportunities to avoid or reduce the release of contaminants at source. Although pollution control technologies can be installed to address pollution such as air emissions, wastewater or solid wastes, these controls can result in significant additional costs (which need to be fully understood and factored into valuations and asset development if implemented). In most instances, it is more effective and better value to reduce pollution at source (e.g. through project design, better management and operation or control of inputs).
Risks
Failure to apply appropriate pollution prevention measures can result in a range of negative impacts on companies, such as:
Excessive expenditure on management of air emissions and liquid and solid wastes due to inefficient/inappropriate design of pollution control measures.
Fines and penalties for non-compliance with national pollution prevention standards, especially with respect to air emissions, wastewater discharges, solid waste and hazardous chemicals management.
Significant fines and penalties, and reputational damage, due to the occurrence of accidents (e.g. major chemical spills or accidents involving the release of hazardous materials to the environment).
Costs associated with accident remediation and compensation (e.g. costs associated with soil remediation).
Opportunities
Active management, especially through the reduction and removal of pollution at source can result in a range of short, medium and long-term business benefits, such as:
Cost savings through more efficient pollution control equipment and technologies.
Additional revenue (or reduced costs) as result of the reuse or recycling of waste either at the company’s facilities or in other industries.
Preparedness for regulatory changes, such as implementation of a carbon tax or more stringent emissions standards.
Reduction of risks and costs associated with serious accidents (see above).
Reputational benefits.