Environmental resource management is the management of the interaction and impact of human societies on the environment.

It is not, as the phrase might suggest, the management of the environment itself. Environmental resources management aims to ensure that ecosystem services are protected and maintained for future human generations, and also maintain ecosystem integrity through considering ethical, economic, and scientific (ecological) variables.[1] Environmental resource management tries to identify factors affected by conflicts that rise between meeting needs and protecting resources. It is thus linked to environmental protection and sustainability.. Environment Management ConceptDefinition ? Its an attempt to control human impact on and interaction with the environment in order to preserve natural resources ? Environmental management focuses on the improvement of human welfare for present and future generations. ? Administrative functions that develop, implement, and monitor the environmental policy of an organization.Sustainable Development ? is a pattern of resource use, that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come. ? The development initiatives be initiated in such a way that the future generations can enjoy the benefits of Nature without any compromise. ? Using the resources to the extent to which it is sustained. ? Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs 2. Significance in India ? WHY factor ? India is the worlds sixth largest and second fastest growing producer of greenhouse gases. ? Delhi , Mumbai and Chennai are three of the worlds ten most polluted cities. ? Two-thirds of city dwellers lack sewerage; one-third lack potable water. ? India urban population grows equivalent of another New York City every year. This equals to a projected urban population of over 500 million in 20 years.Trends in Environmental Management ? Impact Assessment and Planning (IAP)Assessing environmental and social impacts prior to setting up operations and obtaining environmentalapproval from the authorities is almost mandatory in most project categories. IAP assessments may berequired not only for newly constructed facilities, but also for new operations that will be housed in anexisting building. ? Environmental Liability and Clean-upForeign investment has resulted in heightened scrutiny of current and historic environmental liabilitiesassociated with property transactions in India. ? Sustainability and Regulatory ComplianceThe increasing desire of Indian companies to meet world class standards has caused establishedcompanies in India to take on sustainability initiatives as a means of improving their global brand andreputation. ? Climate ChangeWhile India still lags the West in coming up with concrete regulations based on the development versusenvironment debate, there is an increasing awareness in India that climate change is not about scoringpoints but about the existence of entire communities inside and outside of India.National Environmental Policy ? The National Environment Policy seeks to extend the coverage, and fill in gaps that still exist, in light of present knowledge and accumulated experience. ? It does not displace, but builds on the earlier policies. Abstract Environmental management systems (EMS) seek to make companies simultaneously more competitive and environmentally responsible. Improved environmental performance can be sought from the adaptation of techniques that emphasize reduction of waste and process/product

redesign in the quest of reducing environmental impact. However, EMS lacks a framework to quantify improvements and much of the evidence of EMSs impact on ?nancial performance is anecdotal. This lack of theoretical development has served to diminish corporate support, thus reducing the likelihood of EMS implementation due to a perceived cost disadvantage. This paper proposes, and tests, a framework to quantify EMS improvements to determine the impact of EMS strategies on ?nancial performance. Our ?ndings suggest that implementation of an EMS strategy does not negatively impact a ?rms ?nancial performance. Introduction Due to agreements on global warming, an increase in the number of environmentally aware consumers, and the advent of ISO 14000 (a voluntary international standard to certify environmental processes developed by the International Organization for Standardization); companies are increasingly interested in capturing bene?ts associated with environmental sustainability and stewardship. Environmental management systems (EMS) have emerged as a means to systematically apply business management to environmental issues to enhance a ?rms long-run ?nancial performance by developing processes and products that simultaneously improve competitive and environmental performance (Stead and Stead, 1992). EMS implementation is increasingly seen as essential due to a perceived link between a companys impact on the environment and pro?tability.