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The role of environmental-economic instruments for the sustainable development of transnational corporations

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  • M. E. Balatenysheva

Abstract

It is generally recognized that the activities of modern transnational corporations (TNCs) influence the environment. Continuous reduction on the ecological footprint is a competitive advantage of TNCs in the world market. Consumers of the goods and services pay more and more attention to the environmental performance of transnational corporations. Analysis of environmental management systems in various TNCs shows that the methods of ensuring ecological footprint reduction can vary, but it is possible to identify the most effective ones. This article describes the ecological and economic methods of ensuring sustainable development, widely used at present in various multinational companies. The author identifies the following methods: environmental aspects assessment of industrial production, audits (internal, international, PAR, energy audits, etc.), the application of lean production techniques, the introduction of ecological innovations, SABD projects. The processes to ensure effective environmental management of transnational corporations are analyzed, the results of the tools implementation that can help reduce the impact of transnational corporations activities on the environment are described. On the basis of the officially published TNC reports concerning sustainable development tables are compiled containing information on innovative products that help to reduce the environmental impact. The importance of applying the principles and methods of sustainable development is demonstrated and incorporated into the general corporation management system.

Suggested Citation

  • M. E. Balatenysheva, 2015. "The role of environmental-economic instruments for the sustainable development of transnational corporations," Russian Journal of Industrial Economics, MISIS, issue 1.
    • Handle: RePEc:ach:journl:y:2015:id:249
    DOI: 10.17073/2072-1633-2015-1-34-38
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    1. Jeffrey A. Frankel, 2003. "The Environment and Globalization," NBER Working Papers 10090, National Bureau of Economic Research, Inc.
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