A big part of ethics in companies nowadays has to do with the environment and sustainability. Many companies may choose to take short-cuts which often harms the environment. At the same time there are many rules and regulations that oversee companies and their actions, ensuring the environment is preserved. There are often ramifications and consequences if companies are caught breaking these regulations. In the article that I read, a company called Barrick Gold Corporation was in the process of constructing a gold mine in Chile, worth 8.5 billion dollars. However, thanks to government regulations, a Chilean court suspended operations until they build an infrastrcuture that will prevent water pollution. There were claims that operations were harming glaciers and water supplies so the government demanded suitable testing and infrastructures in order to preserve the environment. Barrick stated that they were fully committed to complying with the governments’ demands.
Clearly, there are ethics involved in business and the environment. In this case, Barrick Gold Corporation could have continued to harm the environment if the government did not step in. I believe that a big part of ethics in business has to do with accountability as well as government aid. In this case, the government took actions which led to full compliance from the Barrick Gold. While there are still many companies that use unethical practices, the fact that there are regulations keep companies accountable. Also, a point to be brought up should also be that many companies take ethical actions in order to give the public a better impression. Good PR may often boost sales or just give them a competitive edge compared to companies that aren’t ethical.
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