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Risk management as a tool for sustainability

Krysiak, Frank C.. (2009) Risk management as a tool for sustainability. Journal of business ethics, Vol. 85, Suppl. 3. pp. 483-492.

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Official URL: http://edoc.unibas.ch/dok/A5253138

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Abstract

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.
Faculties and Departments:06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Umweltökonomie (Krysiak)
UniBasel Contributors:Krysiak, Frank Christian
Item Type:Article, refereed
Article Subtype:Research Article
Bibsysno:Link to catalogue
Publisher:Springer
ISSN:0167-4544
Note:Publication type according to Uni Basel Research Database: Journal article
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Last Modified:22 Mar 2012 14:31
Deposited On:22 Mar 2012 14:18

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