Business has always been dependent on nature at the same time it has impacted the nature. Business and environment has a close association right from extraction of raw material, managing resources for business, to generating waste. Though business houses for a long neglected the environment, consequent to which today we are thinking about sustainable use of business resources. Business houses hardly paid attention to ever changing variety of waste generated, rising pollution levels, and they devoted no attention to scarce resource extraction.

Business is to make money. To make money, it has certain cost to pay. Environment has significant impact on business, and it constantly requires business to make necessary changes. Environment entails business to do what’s right, and also enforces them to pay for preserving and protecting themselves from the environmental impact and take appropriate measures. Environmental issues also arises business opportunities, and new perspective of doing the business. Things are started to change both in business environment, and external environment. With the changing environment cost of doing business is definitely going up. With change in time organizations have become more mature and become more sensitive towards their responsibility towards environment. There is also change in attitude of regulatory environment, and they have become more focused towards relevance of environmental issues to business today. Green consumption, and other organic and environmental friendly measures have acquired more prominence today in the marketplace.

Environment has become utmost concern for almost every nation, and nation wants business houses to be environmental friendly or indulge in activities that have minimal detrimental impact on environment. Environmentally conscious business houses are taking interest today in preserving biodiversity and addressing the issues of climate change.

The issues that are affecting the business as well as creating more business opportunities are –
Industrial Waste

Business not only manufactures products but also generates waste. Dumping of manufacturing byproduct is a hazard, and causes damage to the environment. Businesses need to implement recycling program, or they get indulged in selling waste to other parties who can use this waste as a raw material. This can become an additional cost to business or sometimes it can become a further business opportunity for them.

Sustainable Development of Raw Materials
Any manufacturer ca not produce without raw material. Raw material are procured from natural resources and they are becoming scarce day by day. Not many business houses are concerned about environment and natural resources and they do not follow sustainable practices. They have to ensure non depletion of natural resources.
Emissions

Air and water emissions are common from industrial business houses, which entails them to follow environmental laws and ratings made by the government, which ensures that they are protecting the environment from exposure to the emissions to the extent possible. Remedial process includes abiding by treatment plants, rain water harvesting, tree plantation, fuel emission standards change, waste management, and subsequent things. Frequently new regulations, laws and environmental standards are implemented. All these measures again incur cost for the business, but adhering to them take the business ahead in a better way.

Climate Change
Climate change is acting as an opportunity too for business houses. The world is now making lower impact products and services for carbon offsets in any imaginable industry that includes manufacturing, transportation, energy, transportation etc.
Energy
The way world is consuming the oil, we will not be able to accommodate the demand for more than 10-15 years or so, before it will last. It is creating opportunity for auditing companies, energy consultants, creation of alternative energy products, and redesigning manufacturing facilities. 

In this new millennium both environment and business has come at the same juncture and realized the need to support each other and be more careful in reacting to nature. It’s time for business houses to have a positive attitude towards environment management system, taking cognizance of environmental issues, and deal with the barriers and reduce their carbon footprints, and be more socially desirable and responsible business organization.