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s one win-win example (Yang, M.G., et al, 2010). Pollution Prevention strategy consisted of a group of over 3,000 mainly employee-generated projects, which have reduced 3M's emissions by over 1 billion pounds since 1975 while saving the company approximately 500 million. Other companies like General Motors reduced its disposal costs by USD $12 million by establishing a reusable container program with its suppliers, the Commonwealth Edison, a major US electric utility company, realised USD $25 million in financial benefits through more effective resource utilisation, Andersen Corporation implemented several programs that reduced waste at its source and had internal rates of return exceeding 50%, and Public Service Electric and Gas Company saved more than $2 million in 1997 by streamlining its inventory process (Porter, M.E., 1991).

However, some others argue that environmental cost are high and may hurt a firm. Chemical industry committed to programs to reduce emissions of hazardous wastes. This industry sector soon found that it was starving other important projects, like plant upgrades, and that roughly two-thirds of its capital budget went to environmental spending. Perhaps even more alarming, nearly 80% of plant engineers' time was being consumed by environmental projects. Environmental costs have continued to distance both inflation and economic growth for the past two decades. Some environmental issues are strategic because their impact on value is high enough either to put core elements of the business at risk or to fundamentally alter a company's cost structure, and because managers have considerable discretion about how to respond (Carroll, A. B., Shabana, K. M., 2010). A good example is the issue of chlorine-free paper production facing the pulp and paper industry in the US. Opinion is sharply divided on when, and even whether, government regulation will prohibit the use of chlorine in the paper manufacturing process. The value implications for pulp and paper companies are enormous, not only because of the absolute cost of chlorine-free production but also because some companies are likely, by virtue of their plant configuration or other reasons, to enjoy a relative competitive advantage in this form of manufacture (Porter, M.E., 1991).

Even though, some other researchers claim that the success of an environmental projects depends upon the accounting systems. Some accounting models like the EEGECOST (Environmental Engineering Group environmental costing model) have being developed to promote environmental accounting (de Beer, P.P., Friend, F.F., 2006). EEGECOST is based on the principles of the total cost assessment environmental accounting system. The objective of the model is to fully understand the cost significance of environmental and human health related decisions, activities and consequences over the whole life cycle of a product or process; at present and especially for the future. This model is different from traditional environmental accounting systems available in the world market. For EEGECOST, the set of cost and benefit items included are broader than in traditional systems, risk and uncertainty are dealt with in a systematic fashion, the model assists in quantifying items that are usually left un-quantified (intangibles and externalities), and traditional overhead items are assessed and allocated to specific cost drivers (a cost driver is the actual activity or reason for a cost to occur) of 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。