Using a sample of Chinese listed firms in polluting industries for the period of 2008–2010, we empirically investigate whether and how Buddhism, China’s most influential religion, affects corporate environmental responsibility (CER). In this study, we measure Buddhist variables as the number of Buddhist monasteries within a certain radius around Chinese listed firms’ registered addresses. In addition, we hand-collect corporate environmental disclosure scores based on the Global Reporting Initiative (GRI) sustainability reporting guidelines. Using hand-collected Buddhism data (...) and corporate environmental disclosure scores, we provide strong and robust evidence that Buddhism is significantly positively associated with CER. This finding is consistent with the following view: Buddhism can serve as social norms to evoke the consciousness of social responsibility, and thereof strengthen CER. Our findings also reveal that the positive association between Buddhism and CER is attenuated for firms with higher law enforcement index. The results are robust to various measures of Buddhism and a variety of sensitivity tests. (shrink)

This book explores the contributions of East Asian traditions, particularly Buddhism and (Euro)Daoism, to environmental philosophy. It critically examines the conceptions of human responsibility toward nature and across time presented within these traditions as well as in European philosophy. The volume rethinks human relationships to the natural world by focusing on three main themes: Daoist and Eurodaoist perspectives on nature, human responsibility toward nature, and Buddhist perspectives on life and nature. By way of discussing East Asian (...) traditions and European thinkers, this collection reveals that the impact of humanity on the environment is shaped not only by distinctive modes of economic production, but also by cultural beliefs and practices. Representing a unique constellation of environmental and intercultural philosophy, the contributions present systematic approaches to the global need for cultivating environmental responsibility across cultures and generations to address the political, ethical, and aesthetic challenges arising from humanity’s transformative impact on the natural world. (shrink)

Several studies conducted in the 1970's by western analysts concluded that Buddhism is the main obstacle to economic development in Thailand. This view typifies the reasoning of mainstream modernization and development practices in Third World countries. Yet in recent years, Post World War II policies based upon the goal of modernization have been under attack for the environmental disasters they have generated, for their failure to improve human conditions where they have been implemented, and for their assumption that (...) the western world's high levels of production and consumption are superior to all other socio-economic possibilities. This dissertation focuses on Buddhist community and environmental action as a response to the hardships generated by modernization, and the ethical and spiritual system on which this action is based, especially as demonstrated by Thailand's forest monks. ;Chapter 1 examines traditionally accepted views of Buddhist ethics, the background against which new environmental interpretations emerge. Chapter 2 surveys the present trend of Buddhist social action, the application of Buddhist philosophy to contemporary social issues. Socially-engaged Buddhism is also considered with a view to its scriptural justification. Chapter 3 explores both the ethics and social action of Buddhism with specific reference to the conservation of nature. ;At this point in the modernization of Thailand, poverty is growing in rural areas, compounded by increasing drought and environmental adversity. At the same time, expanded corporate and governmental control over arable land and forests assumes command of the nation's remaining natural resources. Chapter 4 discusses this recent history. Chapter 5 concentrates on Thailand's conservationist forest monks, their ethical philosophy, the social and natural environments they are endeavoring to preserve or recover, and their work with villagers whose well-being is at stake. ;The concluding chapter investigates the western model of economic development, criticizing its universalizability, its underlying values, and its outcomes. I argue that the challenge to contemporary economic practices and lifestyles represented by the conservationist forest monks' revitalization of Buddhist tradition offers Thailand's rural poor the potential for a more satisfying and beneficial way of life. (shrink)

The inner ecology: Buddhist ethics and practice -- A Buddhist perspective on animal rights -- Pollution and the environment: some radically new ancient views -- Animals for dinner: a Karmic tale -- Our relationship with nature: a Buddhist exploration -- Environmental issues: a Buddhist perspective -- Human spiritual potential and the environmental crisi -- The need for ethical guidelines to protect us from the very real dangers of a technological world -- Looking at hi-tech through the lens of (...) the five moral precepts -- Science and Buddhism: a critical comparison -- Genetic engineering: a Buddhist assessment -- Redesigning the world: ethical questions about genetic engineering -- Some ethical challenges posed by the Internet and digital social media: a Buddhist perspective -- Where are we going - digitally? (shrink)

For many environmental philosophers, the dualisms intrinsic to Modernity that separate body from mind and nature from culture must be deconstructed in order to develop an inclusive ecology that might respond to the Anthropocene Age. In seeking alternatives to human exceptionalism and humans as exclusive owners of souls to the exclusion of other animals, many scholars have turned to Asian philosophies founded in presuppositions that are far more eco-centric. Focusing on Buddhism, this article will outline some eco-centric aspects (...) of Buddhist dogma, focusing on the idea of co-dependent origination and the Buddhist idea that all things are empty of inherent existence and are constituted through relationality. Then we will show how such Buddhist ideas have been used to develop an ecology that instead of abstracting itself from place, as modern theories are wont to do, seeks to develop an intrinsic relationship to place, and even to locate subjectivity there. This is the Japanese theory of Fudo, developed by twentieth century philosopher Tetsuro Watsuji, a theory that is able to move beyond the dualisms of Western ideology to provide a promising response to the Anthropocene Age. If the being of being human is co-determined and co-dependent upon its milieu and upon the community of others living in such a milieu, we should be focusing on finding ways to re-claim and re-value such milieu as constitutive of human development and flourishing. In this way, we can replace Western universals and intrinsic essence with ontological specificity and the shared inter-dependent experience of community. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Good Work:An Engaged Buddhist Response to the Dilemmas of ConsumerismDavid Landis BarnhillConsumerism is such an ingrained part of our culture, it is paradoxically difficult to avoid and easy to ignore. Sometimes it seems like the water we modern fish swim in.But the Buddhist call to awareness of our state of mind and the nature of reality leads us to reflect on it, to encounter it as directly as possible. (...) When we do, it is all too clear that consumerism goes directly against virtually everything Buddhism stands for. In thinking about a Buddhist response to it, what first comes to mind is the rich monastic tradition, with its trenchant analysis of the pervasiveness of desires, the ideal of life lifted free of craving, and the inviting simplicity of the communal life. But as an engaged Buddhist, I almost immediately feel that, compelling as it is, this monastic tradition is insufficient, particularly at a time when consumerism has become so devastating on a global scale. While the monastic tradition offers a model of a nonconsumer lifestyle, it does little to affect the industrialized world's accelerating exhaustion of natural resources. I sometimes put this point in mythical Buddhist imagery by saying that we live in a culture of hungry ghosts.1 But that would be optimistic. While hungry ghosts have a bloated stomach of insatiable cravings, their throats are as thin as pins. Modern culture has a gargantuan mouth and throat, and yet we still act as if our bellies are empty.So what can we as Buddhists do about such a destructive culture? Engaged Buddhism is a way of confronting social, political, and psychological poisons that threaten our world, and it offers an effective counter to consumer culture in at least three main ways. There is the extension of the Buddhist analysis of reality beyond the psychological and the metaphysical to the social, structural dimension of life of economic systems and political institutions. In the social context, the Buddhist truth of the mutual co-arising of phenomena takes on a more immense scope than the mere conditioning of consciousness, and a more concrete—and thus soiled—quality than Huayan Buddhism's mesmerizing metaphysics of Indra's net. The interpenetration of life (pratītya-samutpāda) includes billboards and boardrooms, peasants uprooted from their land as coffee is planted in their place. I live not just in interrelationship with the postglacial hills of Wisconsin but also with the mountains of toxins spewed [End Page 55] into the air to give us cheap, but very costly, energy. As Stephen Batchelor has said, "the contemporary social engagement of Dharma practice is rooted in awareness of how self-centered confusion and craving can no longer be adequately understood only as psychological drives that manifest themselves in subjective states of anguish. We find these drives embodied in the very economic, military, and political structures that influence the lives of the majority of the people on Earth."2 Engaged Buddhism gives us an incisive way to comprehend and critique our situation, and we stand on more solid ground as we view the vast and painful interconnections.Second, engaged Buddhism also can give us a vision of a social and political alternative, one that is based not on the three poisons of greed, hatred, and delusion but on generosity, compassion, and wisdom. But in doing so Buddhism must go beyond the limits of its own tradition and draw on the insights of contemporary social and environmental philosophies, from anarchism to bioregionalism. A creative merging of Buddhism and such ecosocial thought can help us work toward a modern life of communalism rather than consumerism, of contentment rather than self-perpetuating desire.3Third, engaged Buddhism gives us a basis for directly responding to a world of craving and suffering. Activism against the rising tide of consumerism—and against the social, political, and military structures and the deafening ideologies that support it—can emerge from a meditational steadiness. Contemplative activism avoids rage, burnout, and psychic numbness and allows us to meet greed and hatred with peace in a spirituality of resistance. Such a religiously based activism, however, needs to join hands4 with social philosophy and... (shrink)

The first book of its kind, Buddhist Moral Philosophy: An Introduction introduces the reader to contemporary philosophical interpretations and analyses of Buddhist ethics. It begins with a survey of traditional Buddhist ethical thought and practice, mainly in the Pali Canon and early Mahāyāna schools, and an account of the emergence of Buddhist moral philosophy as a distinct discipline in the modern world. It then examines recent debates about karma, rebirth and nirvana, well-being, normative ethics, moral objectivity, moral psychology, and the (...) issue of freedom, responsibility and determinism. The book also introduces the reader to philosophical discussions of topics in socially engaged Buddhism such as human rights, war and peace, and environmental ethics. (shrink)

Comparative environmental philosophy is valuable in many ways. Perhaps it is most valuable because it reveals some of the foundational assumptions that run so deep in the poles of comparison that they might otherwise have gone unnoticed. These revelations may invite us to challenge those assumptions that have led to the kind of thinking responsible for much of the environmental degradation that we see today. Japanese Environmental Philosophy gathers papers focused on the environmental problems of the (...) twenty-first century. Drawing from Japanese philosophical traditions they investigate our relationships with other humans, nonhuman animals, and the environment. The heart of the book consists of chapters written by fifteen top scholars from Japan, the United States, Europe, and Australia. The essays cover a broad range of topics drawn from various strains of Japanese thought—including Zen Buddhism, Shintoism, the Kyoto school, and Japanese philosophy of art and aesthetics—as well as from traditional Japanese culture and the contemporary science of planning for natural disasters. These articles demonstrate that Japanese scientific, philosophical, religious, and cultural traditions can provide meaningful insight to address the current global environmental crisis. (shrink)

A comprehensive collection of classic texts, contemporary interpretations, guidelines for activists, issue-specific information, and materials for environmentally-oriented religious practice. Sources and contributors include Basho, the Dalai Lama, Thich Nhat Hanh, Gary Snyder, Chogyam Trungpa, Gretel Ehrlich, Peter Mathiessen, Helen Tworkov (editor of Tricycle ), and Philip Glass.

Buddhist values emerge from a vision of interdependence, nonattachment, and moderation in all pursuits. This article is a reflection on these traditional Buddhist teachings within the context of the current crisis of overpopulation and environmental degradation. I highlight the implied link (present in many religious traditions), between spiritual piety and the production of progeny, and the Buddhist rejection of this link is investigated. More importantly, the Buddhist values that encourage moderation and responsibility regarding procreation are highlighted. Buddhism (...) does not suggest that people should 'go forth and multiply,' just as it does not view humans a special creation by 'God' and therefore given 'dominion' over the natural world. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Thinking with Heidegger:Rethinking Environmental Theory and PracticeKevin Michael DeLuca (bio)Environmentalism is tired. It is a movement both institutionalized and insipid. The vast majority of Americans claim to be environmentalists while buying ever more SUVs, leaf-blowers, and uncountable plastic consumer goods. Indeed, environmentalism itself has become just another practice of consumerism, a matter of buying Audubon memberships, Ansel Adams calendars, and 'biodegradable' plastic bags with one's Sierra Club credit (...) card. As a practice of everyday life, environmentalism has devolved into another lifestyle choice.On the political front, carbon-copy blow-dried presidential candidates proclaim their allegiance to the environment, an allegiance that is more a sign of fealty to opinion polls than a concern with environmental issues. In the world of real-politic, environmental regulations are gutted as corporations write legislation for the politicians they have bought. Outspent and outmaneuvered, mainstream environmental groups preach at the altar of broken promises about the potential of lobbying and insider access while awaiting the blandishments of the next candidate. As [End Page 67] a political practice, mainstream environmentalism has degenerated into a marginal special-interest group.On the intellectual front, a confusing array of reform environmentalists, deep ecologists, social ecologists, ecofeminists, wilderness advocates, social justice activists, social constructionists, and Christian ecologists offer a cacophony of competing paradigms and programs while exchanging charges and countercharges of wrong-headedness and infidelity. If on the level of practice an exhausted environmentalism has achieved both institutionalism and irrelevance, intellectually environmentalism has reached several stasis points. This is crucial, for at a level that is unusual for social movements, environmentalism has always highlighted the importance of how we think about the environment, that ideas of nature are powerful because practices follow from ideas. In other words, how we think about nature guides how we act toward nature. In the midst of this melee I want to suggest we reconsider the work of Martin Heidegger.I want to think Heidegger in distress: in the distress of machination; in the distress of the technological enframing of the earth; in the distress of the environmental crisis. In rejecting a Heideggerian hermeneutics, a piety to textual exegesis, I hope to stress Heidegger in order to stress environmental theory. With few exceptions,1 two insufficient responses typify the reception of Heidegger in environmental thinking. One is to champion Heidegger as some proto-environmentalist. Certainly, quotes from such works as Being and Time, Contributions to Philosophy: From Enowning, "The Question Concerning Technology," "Building Dwelling Thinking," and "The Age of the World Picture" inspire such a reading. Such readings, however, present a simplified Heidegger. For example, a poor reading of an essay such as "The Question Concerning Technology" produces the conclusion that Heidegger was anti-technology.2 These misreadings are not merely accidental but a result of the goal of the citation. The challenge of Heidegger is not engaged to develop environmental theory; rather, Heidegger is cited to lend some borrowed legitimacy to the fledgling enterprise. The most prominent example of this move occurs in Devall and Sessions' Deep Ecology, wherein Heidegger joins a potpourri of thinkers, including Dogen, Job, St. Francis of Assisi, Giordano Bruno, Spinoza, Thoreau, Chief Seattle, Herman Melville, John Muir, Aldous Huxley, Gandhi, Rainer Maria Rilke, Aldo Leopold, Robinson Jeffers, Mary Austin, Rachel Carson, Barry Commoner, Stanley Diamond, and [End Page 68] David Brower from a host of traditions, including Taoism, Hinduism, Zen Buddhism, Christianity, Native American thought, Romanticism, and ecological science (1985, 79–108). The result is confusion, at best.On the other hand, in a second response Heidegger serves as a kind of bogeyman, a Nazi used to tar the more radical environmental groups. The syllogism is simple and simplistic: Deep Ecologists are bio/ecocentric; Deep Ecologists quote Heidegger; Heidegger was a Nazi; Therefore, Deep Ecologists are Nazis/fascists. (To push this thinking to its logical extreme, then, all nonanthropocentric thinking is fascist.) Both responses may be useful for polemics but serve to prevent a possibly productive exploration of Heidegger for the engagement of the difficult problems that have stumped environmentalism on multiple levels.Violating HeideggerAs a prefatory word, even a cursory glance at Heidegger's work reveals him to be a thinker who... (shrink)

A translation of a popular Buddhist work on worldly ethics by Tibet's most famous philosopher. Leadership. Power. Responsibility. From Sun Tzu to Plato to Machiavelli, sages east and west have advised kings and rulers on how to lead. Their motivations and techniques have varied, but one thing they all have had in common is that their advice has been as relevant to the millions who have read their works as it has been to the few kings and princes they (...) were, on the surface, addressed to. The nineteenth-century Buddhist monk and luminary Jamgön Mipham’s letter to the king of Dergé, whose small kingdom straddled China and Tibet during a particularly turbulent period, is similar in the universality of its message. This work, however, is unique in that it stresses compassion, impartiality, self-control, and virtue as essential for long-lasting success—whether as a leader or an individual trying to live a meaningful life. Mipham’s historic contribution to ethics and governance, until now little studied outside of Buddhist circles, teaches us the importance of protecting life, fair taxation, environmental sustainability, aiding the poor, and freedom of religion. Both present day leaders and those they lead will find this classic work, finally available in English, profoundly illuminating on political, societal, and personal levels. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Buddhist-Christian Studies 20 (2000) 241-246 [Access article in PDF] News and Views The 1999 International Buddhist-Christian Theological Encounter Barbara BernsteinWilmette, IllinoisThe 1999 International Buddhist-Christian Theological Encounter (IBCTE), also known as the Abe-Cobb Group, met at the Westin Hotel in Indianapolis, Indiana from April 15 to April 18. There were four papers on the theme "Social Violence." This theme followed last year's, which was "Environmental Violence." Each paper was (...) read beforehand; and to guide the discussion, each session was begun by a respondent.It was reported at the first session that the 2000 IBCTE will take place August 3-6 at Tacoma, Washington just prior to the Society for Buddhist-Christian Studies International Conference on "Buddhism, Christianity, and Global Healing." The theme for next year's encounter will be "The Economic Factors in Social and Environmental Violence." This theme will build on the dialogue generated by the topics of the previous two years, namely, environmental and social violence. Papers will be prepared by Sulak Sivaraksa, John B. Cobb, Jr., Judith Simmer-Brown, and Carol Johnston. Responses will be made by Stephanie Kaza, David Chappell, Valerie Karras, and Terry Muck.It was also announced at that session that six of our membership will present a panel on the IBCTE at the Parliament of the World's Religions in Cape Town, South Africa in December 1999. That panel will share the fruits of the 15-year history of the IBCTE. Those who will attend this Parliament are: David Lochhead, David Chappell, Schubert Ogden, the Ven. Yifa, Judith Simmer-Brown, and Rosemary Ruether.The following is a summary of each of the eight dialogue sessions at the 1999 meeting: First Paper (April 16 Morning Session) Discussion began with Taitetsu Unno's response to David Lochhead's paper entitled, "Monotheistic Violence." Unno began by examining the relationship between deep personal faith (vertical) and the social/ethical elements of religion (horizontal). This led to further discussion on violence and the construction of "the other." Unno raised the questions: Who decides what constitutes the other? Further, who ultimately [End Page 241] decides if the other is or is not enemy/neighbor? Unno pointed out that, following Matthew 5, if God does not discriminate good from evil, then who can determine who is just and unjust? This comment pointed to the great problem for minorities in North American society.Unno also made some comments on Lochhead's use of liberation theology: If all economic systems are prone to misuse, then does a critique of capitalism do us much good?Lochhead's reply to Unno began with the issue of dualism and non-dualism. Here, Lochhead talked about a "soft" dualism, in that our world is constituted by relationships such that God and neighbor are the names that appear in this discourse. Like Martin Buber's path in I and Thou, dualistic construction comes out of relationships. Lochhead clarified that this dualism is not the same as a hard dualism, which is what Unno referred to as subject/object dualism. This led to the relevant question: What kind of violence is involved in the construction of the other? If God is a name for something beyond me, then how can the construction of the self in relationship to God be a form of violence? And would not this nonviolent, soft dualistic construction hold for any other person or living being? Lochhead then suggested that it is when relationships somehow degenerate into I-it, in Buber's terms, that the construction can become violent.Much rich insight was brought to light when the dialogue opened for general discussion. José Cabezón asked if violence demands the construction of the other? He pointed out that for the human realm differentiation is necessary for human life. Stephanie Kaza contributed to the discussion by suggesting that biological necessity is very hard for people to understand. There can be different bases of knowing, and religious knowing is from a privileged point of view for understanding our relationship with the natural environment. Larry Cunningham reminded us that relationships in Christianity are crucial because... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:The Great Awakening: A Buddhist Social TheoryChristopher IvesThe Great Awakening: A Buddhist Social Theory. By David R. Loy. Boston: Wisdom Publications, 2003. 228 pp.In recent decades, the Dalai Lama, Thich Nhat Hanh, the Buddhist Peace Fellowship, the International Network of Engaged Buddhists, and other "Engaged Buddhists" have been responding to a range of social, political, and economic issues. To date, however, they have not coupled their wide-ranging and (...) sustained praxis with an equal measure of systematic, rigorous theory. Granted, facing such urgent problems as war, poverty, and environmental degradation, few if any of us would urge them to put their activism on hold until they clarify their theoretical foundations. Yet given how these Buddhists have diverged on such issues as abortion, homosexuality, intoxicants, possible legitimate uses of violence, and sexual contact between Buddhist teachers and students, further theoretical labor would sharpen their praxis and develop Buddhist social ethics.In this respect, David Loy's The Great Awakening deserves a close read. Though not pursuing the degree of systematic theorizing implied by the subtitle, A Buddhist Social Theory, Loy takes a significant step in that direction. After expounding on Buddhist dukkha (suffering) and linking it to "social dukkha" (ch. 1), Loy offers discerning treatment of poverty (ch. 2), globalization (ch. 3), corporations (ch. 4), the "war on terror" (ch. 5), crime and punishment (ch. 6), violence (ch. 7), technology (ch. 8), and worldviews that exacerbate or help resolve our environmental crisis (ch.9). [End Page 170]Drawing on two of his previous books, Nonduality and Lack and Transcendence, Loy deploys the constructs of nonduality and lack to grapple with these issues. Working over the "three marks of existence" (suffering, impermanence, and no-self), Loy sketches adroitly how the vague recognition that we lack any substantial self or soul leads us to engage in fearful "reality projects," attempts to "ground" ourselves "by modifying the world" (p. 164) or by objectifying ourselves as something real in the world (p. 22). This response to "lack" is exacerbated by dualistic ways of knowing: "The sense of duality between ourselves and the world feeds our insecurity and therefore our preoccupation with power, which we seek in order to secure ourselves. The unfortunate fact that we never feel secure enough is experienced as a lack of sufficient power" (p. 29). Overall, Loy's presentation of the cause of suffering (dukkha) in terms of lack, fear, reality projects, and dualism augments well the traditional Buddhist focus on clinging and ignorance of impermanence.Loy develops his analysis by expounding on the three types of suffering outlined in the Pali canon and their connection to social dukkha. He amplifies the construct of the "three poisons" (greed, ill will, and delusion) by highlighting their "institutionalization" and the ways in which capitalism promotes and spreads these mental states (pp. 80–86). And, proceeding along this trajectory, he expands the scope of the traditional antidotes to the three poisons: "Collectively as well as individually, institutionally as well as personally, greed must be transformed into generosity, ill will into loving-kindness, ignorance into wisdom" (p. 29). Loy also deploys Buddhist critiques of dualistic conceptualization to point out that the problem of poverty concerns not only the lack of material things needed for physical well-being but several other dimensions: "the craving for wealth as haunted by fear of poverty, global poverty as necessary to monetarize and commodify the 'undeveloped' world, and poverty as a necessary benchmark for the wealthy to appreciate their own achievements" (p. 196).Other parts of the book deserving close attention are Loy's social interpretation of the five precepts (p. 38), his sketch of the common ground between Christianity and Buddhism (pp. 117–119), and his presentation of karma, about which he writes, "we construct ourselves by what we choose to do. My sense of self is a precipitate of my habitual ways of thinking, feeling, and acting. Just as my body is composed of the food I eat, so my character is built by my conscious decisions" (p. 7). And contrary to those who construe contemporary Engaged Buddhism as the first form of Buddhism to engage itself significantly with sociopolitical problems, Loy astutely... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Proceedings of the 1998 International Buddhist-Christian Theological EncounterBarbara Fields Bernstein and Brian MuldoonThe 1998 International Buddhist-Christian Theological Encounter, the continuation of the Cobb-Abe group, met in Indianapolis, Indiana, from May 1 to 3, 1998. Following the reading of a statement from Prof. Masao Abe in which he stated his regret at not being able to attend this important gathering and his hope that the encounter would begin to address (...) the global crises facing humankind today, John Cobb provided a brief history of the encounter for the new participants.First Paper: “Buddhism and Ecological Ethics,” by Chatsumarn KabilsinghProf. Kabilsingh began the morning discussion by focusing on the Buddhist doctrine of dependent origination, which reveals the interconnectedness of all life, as the starting place for fashioning a response to the environmental crisis. Suggesting that the inner and outer worlds are necessarily related (“As the king is, so are the sun and the moon”), she recommended adopting certain monastic practices to create a more harmonious relationship with nature. This provoked a discussion about the need for concrete action in addressing the behaviors not so much of individuals as of institutions. Institutions are uniquely human, embodying human imperfection even as they shape who we are. Noting that both traditions tended to focus on individual awakening or redemption, the question was asked how the principles of individual enlightenment or salvation could be applied to a community or institution. Further, there needs to be some practical balance between the two traditions’ extreme views of civilization, one of which places it in the heart of the forest (the East) and the other that finds it in the marbled city (the West). This balance, which must restore the tree of life to the heart of the city, will require a new model of institutions as living organisms rather than lifeless monoliths or random encounters. The balance of the morning’s discussion addressed the relationship between community and institutions and the “eschatological hope” of both Christianity and Buddhism. Chatsumarn concluded the session by highlighting the principle of interrelationship as the common ground between Christianity and Buddhism. [End Page 193]Second Paper: “Self and Nature in Christianity (and Buddhism),” by Sallie McfagueMcFague’s paper generated a spirited discussion about a series of paired concepts: Self-other, individual-community, sacramental-prophetic, absolute-relative, commonality-distinctiveness, vertical-horizontal, thinking-feeling, and scientific-aesthetic. The observation that ethics must be based on empirical data led to an exploration of the relationship of the relative (concrete reality that can be described) and the absolute (that which cannot be described, but may or may not be expressed through that which is particular) levels of truth. Interdependence, in the Buddhist model, includes an appreciation of the particularity of each thing while also recognizing the sameness of all. Speakers agreed that we must think both relatively and absolutely (although a new way of applying language to these concepts is needed). Meaningful environmental ethics must be grounded in the sacramental, in scientific particularity as perceived through the heart of the aesthete in intimate relationship with the natural world. But how could we move from these theoretical reflections into a closer encounter with that world? Stephanie Kaza would provide the needed vehicle in her comprehensive overview of the environmental crisis in the next session.Third Paper: “Overcoming the Grip of Consumerism,” by Stephanie KazaIt is fair to say that Kaza’s paper catalyzed provocative directions for thought during the three-day encounter, both because it provided the factual data from which an ethical discussion might proceed and because it focused the conversation on the role of consumerism in the environmental crisis. Prof. Kaza provided a telling comparison of consumerism and liberation practice as paths to self-realization and fulfillment, showing how the twelve links of dependent origination are integral to both paths. Breaking the grip of consumerism requires breaking any one of these links, like an addiction. This generated a spirited discussion about the relationship between enlightenment—whether “sudden” or otherwise—and consumerism and the relationship between consumerism and the more fundamental human tendency toward the acceptance of suffering over practices that promote liberation. While education was obviously critical for a... (shrink)

This study explores the manifestation of Buddhism's conception in underlying entrepreneurial performance. The study is a qualitative research approach with a development direction that comes from successful Buddhist small business entrepreneurs in Bekasi, Indonesia. The interpretive paradigm is used to interpret social life in the reality of successful Buddhist small business entrepreneurs on entrepreneurial performance. Data collection using in-depth interviews with Buddhist small business entrepreneurs in an open-ended format. Data analysis was done in many stages, including domain analysis, taxonomy (...) analysis, component analysis, and theme analysis. The findings indicate that religion acts as an institution that legitimizes the formation of entrepreneurial performance. The performance of Buddhist small business entrepreneurs is manifest in their management of economic or material achievements, and their religious observance in a broad socio-economic context in the relationship of three aspects of human life, namely the individual, social, and environmental, as a form of entrepreneurial practice based on Buddhist values. This research reveals the embodiment of social responsibility for small business Buddhist entrepreneurs which is reflected in entrepreneurial performance through the manifestation of religious values. The findings provide theoretical relevance in institutional theory. (shrink)

This Article examines the question of whether and how religion and law can work together in responding to the global challenge of population pressure, excess consumption, and environmental degradation. Part I suggests that while law can change the pattern of consumption, it is religion which has the ability to change how much we consume and how we reproduce. In the post-Cairo, post-Beijing world, female theologians and feminist nongovernmental organizations have already begun the process of changing consumption and reproduction patterns (...) by the production of new theology on population and consumption that is being picked up by grassroots movements around the world. Examples are offered from Islam, Judaism, Christianity, Buddhism, and Hinduism. In Part II, this question is asked: Does the modern liberal state in its policy and law pose an obstacle to the engagement of the world's religions in dealing with the population-consumption-ecology problematic? The Article suggests that unless a way is found of extending ethical standing beyond the autonomous individual to the collective, law does pose an obstacle to engaging the help of religion in dealing with the population-consumption-ecology problematic. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Buddhist-Christian Studies 23 (2003) 155-157 [Access article in PDF] Religious Feminism and the Future of the Planet: A Buddhist-Christian Conversation. By Rita M.Gross and Rosemary Radford Ruether. New York: Continuum, 2001. 229 pp. Is feminism indigenous to Buddhism and Christianity? Or must feminists reinvent their religious traditions? The probing autobiographical reflections by Rita Gross and Rosemary Ruether expose the tensions of feminist reform. Like many religious feminists, they (...) claim to preserve continuity with tradition despite their innovations. But upon reading Religious Feminism and the Future of the Planet, the similarities between feminist Buddhism and feminist Christianity lead me to wonder whether feminism plays a more formative role than tradition in shaping their visions of the future.The ingenious structure of the book allows the opportunity for maximum dialogue. [End Page 155] Authors write chapters paired on the same topic, and each chapter has a short response attached. This organization mirrors the real-life dialogue between Gross and Ruether that occurred at a workshop in Grailville, Ohio, in 1999. The back-and-forth movement allows for meta-reflection on feminist interpretation, on the self-understandings of scholars who practice the traditions that they study.The first two chapters are autobiographical. There is an especially detailed account of Gross's journey toward Tibetan Buddhism and a shorter chapter on the evolution of Ruether's Catholic identity. The second pair of chapters responds to patriarchal religious origins. Ruether's critique of Christian sexism is theological, dealing with Christology, anthropology, and ecclesiology. In contrast, Gross asserts that the Buddhist "view" or theology is nonsexist and even feminist, thus she considers male leadership as the main obstacle to women. The difficulty of defending such large claims in a short space is compensated by the fact that their conclusions have already been developed in previous publications.Striking parallels emerge when the authors identify what is most liberating in their tradition and most inspiring in the other tradition. In both cases, mindfulness practice in Buddhism and the prophetic voice in Christianity are singled out. The overarching message is that Christians can learn about prayer from Buddhists, and Buddhists can learn about social critique from Christians. Another crucial parallel occurs when the authors choose one key social problem to address religiously—they both focus on environmental ethics. They agree that loving care for the earth is the key to both ecological and human flourishing.One asymmetry, however, concerns sensitivity to departure from tradition. In particular, Gross questions whether by utilizing "prophetic" critique she is applying an extrinsic Hebrew and Christian viewpoint to Tibetan Buddhist reflection. I greatly admire how she faces up to the problem of discontinuity between feminist critique and Buddhist institutions rather than insist that the tradition is inchoately feminist. Ruether, on the other hand, does not take the discontinuity between traditional and feminist Christian viewpoints as seriously, although she undoubtedly reshapes Christianity, particularly theological doctrines, into new forms.From a Christian perspective, I notice striking omissions in Ruether's presentation concerning the subject of prayer and the theme of suffering. When Ruether experimented with lay monastic practice early on in her career, she became impatient with silence and intensive prayer as isolating and unproductive. In her autobiographical chapter, she speaks of turning away from prayer toward social engagement. Yet she also mentions admiration for certain contemporary monks and nuns who are on the vanguard of creative worship and ethical engagement. Although she admires Buddhist mindfulness, she does not take seriously analogous Christian meditative practices and their capacity to sustain social activism. She leaves the impression that prayer and action are separate paths, whereas Christian prayer and resistance may be closely associated.The nature of suffering and its overcoming are topics central to Christianity and Buddhism, as well as to feminist thought. For feminists, reflection on suffering tends [End Page 156] to concentrate on exposing and removing its causes, such as abuse, oppression, or violence. Buddhists also focus on cessation of suffering, but "suffering" is centrally an individual barrier to overcome before social issues can be corrected. In contrast, Christians think about... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:The 2004 Meeting of the Society for Buddhist-Christian StudiesFrances S. AdeneyThe 2004 meeting of the Society for Buddhist-Christian Studies was held in San Antonio, Texas, 19–20 November 2004. This year's theme was "Dealing with Illness and Promoting Healing: Buddhist and Christian Resources." During the first session panelists Laura Habgood Arsta, Jay McDaniel, and Beth Blizman presented Christian views on dealing with illness, and Rita Gross responded from a Buddhist (...) perspective. The second session focused Buddhist resources for promoting healing by panelists Francis Tsio and Grace Buford, with Laurel Curran presenting a Christian response.Laura Habgood Arsta presented research done by undergraduate students in border communities between the United States and Mexico. The topic was the connection between the Pentecostal movement and environmental health. Pentecostal Christianity (250–400 million members worldwide) emphasizes the signs that accompany the presence of Christ, evidenced by experiences of spirit baptism and faith healing.Their sample indicated that poor and minority people don't identify with the environmental movement until personal health problems emerge. One possible reason for Pentecostal religion thriving, according to this research, might be that exposure to toxins and poverty draws people to healing, a theological pillar of Pentecostalism. Religious services provide an emotional outlet and inspire self-confidence, which can become a mental health component of a healing solution. Women are free to share and lead services, finding leadership opportunities and a social group in churches. As an inexpensive alternative to medical care, healing in the Pentecostal church provides a sense of physical healing as well as help in overcoming addictions.Beth Blizman informed the group of the toxicity of the Lake Erie area of northern Ohio. Cancer is becoming normalized in this region, which has the highest level of multiple cancers in the United States. Beth feels called to heal her own body and become part of the healing process of that region. She argued that an attitude that disrespects the earth leads to disrespect of one another. "How can healing be found?" she asked. She discussed many resources from ancient monastics to modern women religious, from process and feminist thought to new cosmologies. Finally she connected [End Page 149] Audre Lourde's work on the rejection of difference to the bioregional studies that she has been doing on toxicity and illness.Jay McDaniels followed by giving a Christian perspective on Alzheimer's disease as an ecumenical Christian influenced by Buddhism. He addressed three questions that Christians ask in this situation. The first question is "Where is God now? Is God inside my loved one? How?" In response to this question, Jay outlined an evangelical view of God that understands God as a transcendent being, "way up there, watching from a distance." He contrasted this view with a process view of God as an "umbrella of compassion that envelops the world without smothering it." In this view, God is the great companion, sharing the confusion and anxiety of the ill person.So where is the person as they experience personality changes caused by the disease? Jay addressed this second question through process theology, stating that in process theology the person is defined in Buddhist terms, inheriting from the past and contributing to the future. A person is constantly in flux or transformation, so the person with illness may be a different person than they once were but can be embraced as the person that they are now. The multidimensional universe of process theology allows for a person to live "with one foot on earth and one foot in heaven."Help for dealing with Alzheimer's disease, Jay's third question, can be found in the Benedictine vow of obedience, stability, and ongoing conversion. The deepest need for those with Alzheimer's is to be with them, being available to others to listen. Stability is the vow to stay with the relationship through these changes. Ongoing conversion can come through Alzheimer's as those with this disease invite us into a space of creative imagination and a new kind of respect.Rita Gross responded to the three presentations by arguing that how one perceives a situation changes it tremendously. Two Buddhist principles that apply here are... (shrink)

China has achieved economic prominence but damaged the natural environment. Can religions excite pro-environmental actions? Chinese religion encompasses Buddhism, Christianity, Islam, native Taoism, and indigenous folk beliefs (GuanDi and Mazu). We theorize that believers demonstrate more sustainable HOPE (Help Ourselves Protect the Environment) than non-believers. Religions with standardized and formal liturgy show more pro-environmental HOPE than those without it. We challenge the myth that the believers of Christianity and Islam display more sustainable HOPE than other faith. The (...) 2013 Chinese General Social Survey (involving 10,017 randomly selected participants across 28 provinces) revealed that 11.10% of them have faith. Believers display higher levels of HOPE than atheists, demonstrating the __religion__ effect. Among believers, native Taoism and Buddhism exhibit more ecological HOPE than other religions, supporting the __dogma__ effect in the Chinese culture. Religions with formalized liturgy demonstrate more pro-environmental HOPE than generalized folk beliefs—GuanDi and Mazu, validating the __liturgy__ effect. Females, married, and people with good income, education, health, and country-domicile—the haves—exhibit robust ecological HOPE. The rich get richer and greener. However, those who are older, males, urban residents, and the Han majority do not. We empirically demonstrate the Matthew Effect in Religious Social Responsibility: Religious faith facilitates believers’ pro-environmental behaviors—HOPE and ethical behaviors in China. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Buddhist-Christian Studies 23 (2003) 21-32 [Access article in PDF] Re-Creating Christian Community:A Response to Rita M. Gross Donald W. Mitchell Purdue University In Rita M. Gross's well-written, insightful, and provocative paper entitled "Some Reflections about Community and Survival," Rita says: "I am challenging my Christian colleagues to consider what role Western religious concepts about the individual may have played in getting us into the current hyper-individualism. I also am (...) asking whether the Buddhist concept of interdependence might be very useful in providing tools with which to think about why this hyper-individualism cannot survive."In terms of Rita's challenge, one could make the generalization that the notion of the individual soul being saved or on a journey to union with God has certainly played an important role in Christianity. At the extreme in this regard, Thomas à Kempis even advised solitude and the actual avoidance of other people, seen by him to be distractions to the spiritual life. However, most Christians would see this advice as an unhealthy extreme, agreeing with Rita that solitude has a "valued role...in the context of social life, not a substitute for it" (11). It is much more common for Christians to see themselves as parts of the mystical body of Christ, and to believe that their authentic selfhood and discipleship are found in the context of fellowship and community life in the church.In what follows here, I will try to show how the notions of selfhood and discipleship are being defined in a particular re-creation of Christian community, which includes persons of other faiths. I have been asked to make my response from the perspective of my own Christian community, the Focolare, which focuses on the kinds of social, economic, and environmental issues that we have been discussing for the past three years. In so doing, I will also try to show how the Focolare's trinitarian vision of God, community, and the cosmos is a possible answer to the above-quoted question Rita asks about how interdependence might be an antidote to hyper-individualism. Along the way, I will raise issues that relate to other points Rita makes in her paper, and then address her conclusions at the end of my paper. Seeds of a New Christian Community The Focolare began duringWorld War II with a small group of young women, whose ages ranged from fifteen to twenty-five, living in the city of Trent, Italy. 1 At the center [End Page 21] of the group was Chiara Lubich, who was only twenty-three at the time. In May of 1944 Lubich's home was destroyed by bombs, and her family decided to leave the city. Lubich made the difficult decision to remain with her companions in Trent, where they would meet in the bomb shelters as often as eleven times each day. They would take with them to the shelters only the Bible, which they searched for guidance in that difficult situation. What they came to understand in those hours together and then put into practice became the basis for re-creating a Christian community, one that is sensitive to the social, political, and economic conditions that had produced the war in which they were caught.A foundational discovery for these young women was a collective and yet very personal experience, in the midst of the death and destruction of the war, that "God is Love" (I John 4:8). Their contemplation of the First Letter of John, as well as other parts of the Scripture, strengthened not only their belief in the existence of God, when many were doubting God's existence, but also their faith in the love of God for each one of them.Wanting to respond to this experience of God's love, they again found in Scripture that God does not seek just a response of individual prayerful sentiment or personal piety, but a response that includes doing God's will: "It is not those who say to me, 'Lord, Lord,' who will enter the kingdom of heaven... (shrink)

This paper uses an innovative way to screen stocks and analyzes the relationship between corporate environmental responsibility and long-run stock returns. By our definition, an environmentally responsible (green) company gives no environmental concern and shows environmental strength(s). Using 20 years’ data of 1992–2011, we find evidence that environmentally responsible company outperforms, in the 4th to 7th year after the screening year. An equal-weighted environmentally responsible portfolio earned an annual four-factor alpha of 4.06 % in the 4th (...) year, 3.00 % above industry benchmarks, and 3.87 % above characteristic benchmarks. The results are robust to alternative portfolio weighting methodologies, controlling for firm characteristics, and the removal of outliers. Testing using industry-adjusted Tobin’s Q, we find consistent evidence that environmental strength creates firm value. We argue that environmental responsibility is an intangible asset, likely to be undervalued by the market, especially in the long horizon, thereby causing environmentally responsible companies to exhibit long-horizon excess returns. (shrink)

Abstractabstract:John B. Cobb, Jr., is one of the most influential Christian theologians of the past fifty years. Having written from an interdisciplinary lens, engaging economics, education, biology, and beyond, Cobb is not the typical theologian. One of Cobb's earliest concerns is the environmental crisis, having written the first single-author book on the subject in 1972. Cobb recognized early on that the environmental crisis was systemic, pervading modernity in both thought and culture, and sought to approach the problem as (...) such. This paper explores Cobb's religious and philosophical arguments regarding the environmental crisis. The first section identifies theological (anthropocentrism) and philosophical (substance-based thinking) assumptions that impede serious awareness of the environmental crisis. Here, Cobb's alternatives are presented in the quest for a more responsive worldview. Second, because environmental issues are pervasive in our modes of thinking, reconsidering education becomes a promising avenue in forming an ecological civilization. This section explores Cobb's detestation of the current education system in the West that idolizes isolated, fragmented disciplines. Instead, Cobb suggests the creation of a holistic, post-disciplinary approach. Finally, Cobb's legacy for the common good concludes this paper by supplying examples of his impact on the creation of an ecological civilization. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:The Cosmic Common Good: Religious Grounds for Ecological Ethics by Daniel P. ScheidJohn J. FitzgeraldThe Cosmic Common Good: Religious Grounds for Ecological Ethics Daniel P. Scheid new york: oxford university press, 2016. 264 pp. $31.95Published shortly after the first encyclical to focus on the environment (Pope Francis's Laudato Si'), Daniel Scheid's first book is a significant advance in Christian ethics and religious ecology. Scheid argues that resources in (...) Catholic social thought and other religious traditions can move one to an appreciation of a common good that includes the "more than human world" (xiv). In particular, he "aim[s] (1) to extend Catholic social thought ecologically, and (2) to extend Catholic ecological ethics comparatively" (8).The argument begins by broadening the notion of the common good into a "Catholic cosmic common good," which "emphasizes the centrality of God, the goodness of creation, and humanity's dignified and privileged but contextualized role within the story of creation" (32). This vision is then informed by Augustine, Aquinas, and Thomas Berry. Next, Scheid widens solidarity, a virtue that (per John Paul II) involves "commit[ting] oneself to the common good" (86), into "Earth solidarity," which attends to all ecosystems and species, particularly those most impacted by environmental damage. Solidarity cannot be exercised without respecting others' rights, and Scheid contends that these include "Earth rights" of biota, abiota, and ecosystems. Finally, in order to really "test the potential for the cosmic common good as a ground for interreligious ecological ethics" (124–25), he turns to three non-Abrahamic traditions that each support, augment, and challenge elements of his vision. A Hindu dharmic ecology is theocentric and blurs the line between humans and nonhumans, Buddhist traditions are nontheistic and highlight how all are [End Page 197] interrelated, and American Indians (specifically the Lakota) condemn individualism and demonstrate certain advantages of a more spatial (rather than simply temporal) perspective.The Cosmic Common Good covers an impressive range of thought in under two hundred pages of main text. While the argumentation is intricate, the logical ordering of chapters, the repetition of important points, and some vivid examples assist the reader in following along. The case for Earth rights is especially bold and well argued; Scheid considers objections to them and shows that they can be intelligibly grounded (as prima facie and proportionately weighted) in self-governance and creaturely dignity. This is a very promising development in Catholic social thought, as recent key magisterial teachings do not explicitly affirm that animals have dignity (or rights) but limit themselves to the notion that harming animals is "contrary to human dignity" (see Laudato Si', §§ 92, 130, quoting Catechism of the Catholic Church, § 2418).While the book is generally comprehensive, there are a few surprising lacunae. First, although Scheid himself recognizes that "a properly Catholic ecological ethics would certainly not dismiss the centrality of the Bible" (198n16), there is very little reference to it. The author briefly alludes to the Psalms' portrayal of the natural world (47, 181), but more integration of the Old and New Testaments would have been illuminating. And while The Cosmic Common Good makes a commendable last-minute effort to incorporate insights from Laudato Si', Francis's predecessor Benedict XVI (often dubbed "the Green Pope") receives too-short shrift. Benedict's ecological views are referenced only on one page, perhaps because they are somewhat more anthropocentric than the "Earth-centered or cosmos-centered" ethic developed by Scheid (24). Regardless, the former pope's frequent calls for environmental responsibility to the poor, future generations, and animals would surely lend some healthy support to the cosmic common good. But these omissions do not detract much from the merits of this book, which should be read "not as a definitive conclusion but as an invitation to generate greater interreligious dialogue and cooperation on an issue that demands extensive and immediate action" (11). Professional academics, graduate students, and others who are somewhat versed in the sophisticated issues Scheid raises would do well to take up his invitation. [End Page 198]John J. FitzgeraldSt. John's University (New York)Copyright © 2018 Society of Christian Ethics... (shrink)

We examine how corporate environmental responsibility affects the cost of equity capital for manufacturing firms in 30 countries. Using several approaches to estimate firms’ ex ante equity financing costs, we find in regressions that control for firm-level characteristics as well as industry, year, and country effects that the cost of equity capital is lower when firms have higher CER. This finding is robust to addressing endogeneity through instrumental variables, to using alternative specifications and proxies for the cost of (...) equity capital, and to accounting for noise in analyst forecasts. We conclude that investment in CER reduces firms’ equity financing costs worldwide. (shrink)

In this study, we examine whether corporate environmental responsibility plays a role in enhancing operating performance in the financial services sector. Because achieving success with CER investing is often a long-term process, we maintain that by effectively investing in CER, executives can decrease their firms’ environmental costs, thereby enhancing operating performance. By employing a unique environmental dataset covering 29 countries, we find that the reducing of environmental costs takes at least 1 or 2 years before (...) enhancing return on assets. We also find that reducing environmental costs has a more immediate and substantial effect on the performance of financial services firms in well-developed financial markets than in less-developed financial markets. These results are economically and statistically significant and robust even after alleviating endogeneity and using an additional performance measure. We interpret our empirical results as supporting the social impact and reputation-building hypothesis. Our findings also suggest that policy makers dealing with corporate sustainability management should pursue an environment-centered industry policy not only at the manufacturing sector but also at the financial services sector, as firms in both sectors with lower environmental costs perform better. (shrink)

This paper offers directions for the continuing dialogue between business ethicists and environmental philosophers. I argue that a theory of corporate social responsibility must be consistent with, if not derived from, a model of sustainable economics rather than the prevailing neoclassical model of market economics. I use environmental examples to critique both classical and neoclassical models of corporate social responsibility and sketch the alternative model of sustainable development. After describing some implications of this model at the (...) level of individual firms and industries, I offer an ethical justification of the sustainability alternative that is derived from the same values that underlie traditional market economics. (shrink)

This study explored the relationship between egoistic, altruistic and biospheric values and pro-environmental attitudes, as well as their impact on the pro-environmental behaviours of Indian consumers. India is currently facing the burgeoning challenge of a rapidly increasing urban population, which is leading to waste segregation issues in households and the need for sustainable green products due to rising awareness among consumers. The goal of this research was to understand the effect of Indian consumers’ values and pro-environmental attitudes (...) on the following three specific behaviours: waste-sorting intention, green-consumption intention and social-activity intention. The authors found that values were positively related to pro-environmental attitudes, which in turn positively impacted the three pro-environmental behaviours. These findings suggest that, in order to strengthen individuals’ perceptions of the individual benefits of a cleaner and better environment, marketers should promote responsible consumption in tandem with government policymakers. (shrink)

The multiple emergencies of global heating require bioethicists to embrace the dormant, comprehensive bioethics legacy of Van Rensselaer Potter, moving beyond the current narrower focus of the field on medicine and health care. We recommend readings that expand the core literature of bioethics to address key environmental issues. These are Jessica Pierce and Andrew Jameton's The Ethics of Environmentally Responsible Health Care; Dale Jamieson's Reason in a Dark Time; and David Wallace‐Well's The Uninhabitable Earth. Because efforts to mitigate climate (...) disasters are likely to be only partially successful, we also recommend the teachings of late Roman Stoicism and core texts of Buddhism, which provide ethical wisdom likely to be needed in the multiple crises of the Anthropocene. (shrink)

In this study, we examine the determinants of corporate environmental responsibility, as well as the relationship between legal systems and CER as measured by a unique set of global environmental cost data. Results of our analyses show that firms’ legal origins affect CER, which requires a long-term management perspective. Specifically, our results indicate that civil law firms exhibit significantly higher levels of CER than common law firms. In addition, results of an auxiliary test suggest that manager shareholding (...) has a significant, nonlinear relationship with CER. The association between a firm’s legal origin and its CER performance remains robust after controlling for the effects of managerial ownership and issues related to endogeneity. Our findings imply that although the majority of corporate law studies in the past few decades provide support for the common law system emphasizing the maximization of shareholder value and investor protection, the civil law system stressing the maximization of stakeholder wealth and the importance of CER may become more influential in the coming decades as CER becomes central to firms’ operations. (shrink)

In this study, we examine the relation between corporate environmental responsibility and risk in U.S. public firms. We develop and test the risk-reduction, resource-constraint, and cross-industry variation hypotheses. Using an extensive U.S. sample during the 1991–2012 period, we find that for U.S. industries as a whole, CER engagement inversely affects firm risk after controlling for various firm characteristics. The result remains robust when we use firm fixed effect or an alternative measure of CER using principal component analysis or (...) downside risk measures. To address the concern of endogeneity bias, we use a system equations approach and dynamic system generalized methods of moment regressions, and continue to find that environmentally responsible firms experience lower risk. These findings support the risk-reduction hypothesis, but not the resource-constraint hypothesis, along with the notion that the top management in U.S. firms is generally risk averse and that their CER engagement facilitates their risk management efforts. Our cross-industry analysis further reveals that the inverse CER-risk association mainly comes from the manufacturing sector, whereas in the service sector, CER tends to increase firm risk. (shrink)

This chapter employs Buddhist conceptions of karma and nonduality to generate movement oblique to the ontologically freighted opposition of sameness and difference – opening a “middle way” beyond the contrariety of modern valorizations of global unification and postmodern valorizations of free variation. In doing so, the author's aim is both conceptual clarification and critical integration. If modern and postmodern valorizations of autonomy have been crucial to empowering distinctive responses to social, economic, political, and cultural coercion, a non‐dualistic conception of diversity (...) has potential for strengthening and more equitably orienting the interdependence of these spheres – a value for relational transformation from the personal sphere to the environmental. (shrink)

In this article, we examine how firms design executive compensation in light of their risk environment. Prior literature shows that corporate environmental responsibility (CER) of a firm inversely affects firm risk. We argue that firms with better CER performance benefit from the reduced firm risk, and therefore are more likely to provide greater managerial risk‐taking incentives to encourage the risk‐averse managers to undertake risk‐increasing but positive net present value (NPV) investments. Consistent with our hypotheses, we find that a (...) firm’s CER rating is positively associated with its CEO risk‐taking incentives (vega) in the following year. We also document cross‐sectional variations in the CER‐vega relationship, that is, a weaker association in the controversial industries. This study contributes to the literature by investigating the role of CER on executive compensation design from the perspective of risk management. (shrink)

The question of how an individual firm's social and environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decrease its market risk or is environmental performance just a disadvantageous cost that increases such risk levels for these firms? Answers to this question have important implications for the management of companies and the investment decisions of individuals and institutions. The purpose of this (...) paper is to examine the relationship between corporate environmental performance and firm risk in the British context. Using the largest dataset assembled so far, with community and environmental responsibility (CER) rankings for all rated UK companies between 1994 and 2006, we show that a company's environmental performance is inversely related to its systematic financial risk. However, an increase of 1.0 in the CER score is associated with only a 0.028 reduction in its β. (shrink)

Although the same environmental regulations apply to all regions in China, legal enforcement can be different due to local economic development priorities. There is still a lack of knowledge about how regional disparities affect the operating performance results of the implementation of corporate environmental management practices, thus providing little information for foreign companies when they invest and develop their production base in China. To fill this research gap, this paper collects data from the Fortune 500 Chinese firms to (...) investigate the moderating role of regional disparities in affecting the performance results of corporate environmental management efforts based on the institutional theory. The disclosed corporate environmental responsibility practices serve as proxy to represent corporate environmental management practices. Content analysis approach was applied to collect and analyze CER practices published in the corporate reports of Chinese manufacturers. The results show that CER has a positive impact on operating income, while regional disparities influence the relationship between CER and corporate operating income. Specifically, CER and operating income are positively related in Eastern China; on the contrary, they are negatively related in Western China. This paper adds to the body of knowledge about environmental discrepancies in the same emerging economy, and provides insights for systematic consideration in terms of the issues of government environmental regulations and corporate environmental strategies. (shrink)

Despite the growing interest in examining the role of religious beliefs as a guide towards environmental conscious actions, there is still a lack of research informed by an analysis of divine messages. This deficiency includes the extent to which ethics for environmental responsibility are promoted within textual divine messages; types of environmental themes promoted within the text of divine messages; and implications of such religious environmental ethics for business practice. The present study attempts to fill (...) this gap by conducting a thorough content analysis of environmental themes within the divine message of Muslims focusing on their related ethical aspects and business implications. The analysis has revealed 675 verses in 84 chapters throughout all 30 parts of the Qur’an, with environmental content relating to the core components of the natural world, i.e. human beings, water, air, land, plants, animals, and other natural resources. This environmental content and its related ethics are grounded on the belief that humans are vicegerents of God on the earth and their behaviours and actions are motivated by earthly and heavenly rewards. Implications of these findings for different sectors/businesses are also highlighted. (shrink)

The aim of this paper is to shed some light on understanding why companies adopt environmentally responsible behavior and what impact this adoption has on their performance. This is an empirical study that focuses on the United Nations (UN) Global Compact (GC) initiative as a Corporate Social Responsibility (CSR) mechanism. A survey was conducted among GC participants, of which 29 responded. The survey relies on the anticipated and actual benefits noted by the participants in the GC. The results, while (...) not conclusive, indicate that companies have more than one reason for adopting environmentally responsible behavior and that ethical and economic reasons co-exist. In terms of performance, the impact of participation in the GC seems to be particularly high in securing network opportunities and improved corporate image. The results indicate that companies that have participated many years in the GC, have submitted the most projects and have attended the most GC meetings also regard their CSR involvement as having had a strong, positive influence on their market performance. GC participation does not result in significant cost advantages, but this does not seem to have been regarded as a goal anyway. Costs seem to be affected to a␣large extent by existence of in-house research and␣development and the capability of developing environmentally sound technologies. Overall, the company receives both ethical and economic benefits from joining the GC. (shrink)

The world is going through unprecedented environmental crisis. The type of destruction and dissolution of natural resources and elements by individuals and institutions that has been witnessed in the last century is much more than that witnessed in the previous millennia. To tackle this, for more than three decades, a number of discussions have taken place at diverse international fora, and frameworks and propositions have been put forth for corporate implementation. Consequently, a perceptible change has come about in the (...) understanding of corporations and their approach towards the Natural Environment, as a vital organizational stakeholder. While many companies use the pro-tection and preservation of the Natural Environment as a tool for brand building and corporate communications, many others have integrated economic and environmental goals to create mutually beneficial win-win situations. This article attempts to study such Natural Environmental Responsibility (NER) practices in corporate India. Through a mixed-method inductive study the article also proposes ‘Natural Environmental Responsibility Framework’. This is based on the triangulation of data wherein the quantitative data has been gathered through responses to an Executive Perception Survey with 400 responses from 125 organizations; and qualitative data has been gathered through personal interactions with 40 senior management executives from six eminent corporations across industry categories in India. The framework and its major components are based on empirical data of practices as existent in corporate India in contemporary times. Hence, the framework could be considered as a working model of NER in India. (shrink)

The promotion of tourists’ environmentally responsible behavior plays a central role in destination management for sustainability. Based on the stimulus–organism–response framework, this study proposes an integrated model for behavior management by examining the relationship between stimuli and response factors through the organism. Survey data from 458 tourists visiting Mount Heng in Hunan Province, Southern China, were used to empirically evaluate the proposed framework. The findings demonstrate that the perception of a destination’s natural environment positively impacts tourists’ sense of awe and (...) satisfaction; the perception of availability of infrastructure positively and significantly influences awe, satisfaction, and TERB; and awe positively impacts satisfaction and TERB. Moreover, the emotion of awe plays a significant mediating role in this proposed model. The theoretical significance of this study and the implications for tourism destinations are discussed. (shrink)

This paper argues that multinational corporations face levels of environmental and social responsibility higher than their national counterparts. Drawing on the literatures of stakeholder salience, corporate reputation management, and evidence from the confrontation between Shell and Greenpeace over the Brent Spar, in 1995, two mechanisms – international reputation side effects, and foreign stakeholder salience – are identified and their contribution in creating an environment more restrictive, in terms of environmental and social responsibility, is elaborated on. The (...) paper concludes with discussing the links of the work presented here with a number of ongoing debates within the filed of international business ethics, and the managerial implications of the two mechanisms identified. (shrink)

Proponents of corporate environmental responsibility argue that corporations shortchange shareholders by investing too little in environmental responsibility. They claim that corporations can improve their financial performance by increasing their investment in environmental responsibility. Opponents of corporate social responsibility argue that corporations shortchange shareholders by investing too much in environmental responsibility. They claim that corporations can improve their financial performance by reducing their investment in environmental responsibility. Yet, others claim that (...) corporations serve their shareholders well by investing just enough in social responsibility, not too little and not too much. If so, corporations increase their investment in environmental responsibility when an increase improves financial performance and reduce their investment in environmental responsibility when a decrease improves financial performance. Our evidence is consistent with this last claim. We find that the behavior of corporations is consistent with the claim that they act in the interest of shareholders, increasing or decreasing their investment in environmental responsibility as necessary to improve their financial performance. (shrink)

We aim to investigate the effect of corporate environmental responsibility (CER) engagement on investors' reactions. We also explore heterogeneity of this impact among different types of companies and different company's market performance. We use panel data models and quantile regression based on data related to firms listed on the A-share China security market and the final sample consists of 3,776 firm-year observations. The results show that CER engagement has a significant positive impact on investors' investment decisions. Further, investors (...) are more sensitive to CER engagement of high energy-consumption companies and no matter the company is a state-owned or a non-state-owned, CER engagement has a significant positive impact on investors' reactions. CER engagement has a significant positive impact on investors' reactions in all quantiles except one and the promoting effect increases first and then decreases with the growth of corporate market value from lower to upper quantiles. (shrink)

The financial services sector has the potential to be an important driver for improved corporate social and environmental responsibility through its control over corporate financing. But, so far, only ad hoc policy initiatives have arisen in the European Union and other countries. Because the financial services sector is where wholesale decisions regarding future development, and thus pressures on the environment, arise, the reform of investment and banking services to promote long term investment and better consideration of environmental (...) impacts may be an effective way to promote sustainable development. Reforms such as corporate environmental reporting requirements and lender liability for borrowers’ environmental harm, are some of the ways by which an institutional framework for mobilising financial organizations as instruments of environmental regulation could be constructed. (shrink)

This paper examines the antecedents of organizational commitment for adopting corporate environmental responsibility and green practices in the case of the logistics industry in South Korea. Seven hundred and eighty employees and top management from logistics companies were sampled. The data were analyzed using factor analysis, structural equation modeling techniques, and one-way analysis of variance. The results showed that social expectations, organizational support, and stakeholder pressure were the important antecedents for the adoption of corporate environmental responsibility (...) and green practices. In the path analysis, social expectations had the greatest impact on both stakeholder pressure and green practice adoption. Moreover, we found that the higher the job titles were, the more willing they were to adopt green practices. This indicated that the current top management of Korean logistics companies is well aware of being mandated to make a commitment to corporate environmental responsibility and green practices. (shrink)

This chapter contains sections titled: Responsibility for environmental harm to humans Responsibilities to the natural world Business ethics in the age of sustainable economics.