Risk Management as a Tool for Sustainability
Although risk and uncertainty are inevitable aspects of the sustainability problem, they are often neglected in the sustainability discourse, especially in the economic analysis of sustainable development. We argue that this deprives the sustainability discourse of interesting connections to risk ma...
| Main Author: | |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Springer
2009
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| In: |
Journal of business ethics
Year: 2009, Volume: 85, Issue: 3, Pages: 483 |
| Further subjects: | B
Uncertainty
B Sustainability B Fair play B Risk B mean-variance analysis B Altruism |
| Online Access: |
Presumably Free Access Volltext (lizenzpflichtig) |
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| 520 | |a Although risk and uncertainty are inevitable aspects of the sustainability problem, they are often neglected in the sustainability discourse, especially in the economic analysis of sustainable development. We argue that this deprives the sustainability discourse of interesting connections to risk management. We show that defining sustainability as the obligation to limit the risk of harming future individuals provides a framework in which tools from risk management, like mean-variance analysis, can be employed to analyze planning decisions and to calculate a risk-minimizing policy mix. Furthermore, we discuss whether such a notion of sustainability can be an ethically tenable sustainability concept and how a positive probability of harming future individuals might be defended. | ||
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