Thursday, 10 October 2013

Socially Responsible Investment Involvement May Help Lessen Environment Impact of Relaxed California Environmental Restrictions

Involvement in a genuine socially responsible investment today is crucial more than ever as California mulls over relaxing its 40-year old landmark environment laws. The state's said law is known to be one of the strictest in the U.S. and the world. According to a New York Times article by Adam Nagourney, businesses in California put down their competitors by threatening them with environmental lawsuits. Labor unions also often resort to “greenmail,” which basically involves threatening businesses to “press for repeated environmental review on pending projects as a way of winning favorable contract provisions.” Bob Huff, the Senate Republican leader believes that it's being misused and that it's hurting business growth in the Golden State. He adds, “The original purpose, which was protecting the environment or at least looking at the impacts and mitigating them, has been treated pretty roughshod.”

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