Published Paper Details:

Environmental Risk Assessment (ERA) is a powerful technical and analytical set of instruments for analyzing adverse environmental impacts, and has found some application in supporting the decision-making process over the last two decades. Risk assessment provides information on potential health or ecological risks, and risk management is the action taken based on consideration of that and other information. Risk assessment techniques identify and evaluate potential losses and that can be easily expanded to include adverse environmental effects. It provides theoretical and scientific frameworks for environmental risk management and decision making. Environmental Risk Management (ERM) is becoming a critical component of corporate strategy. Until the 1960s, there was a little concern with environmental risk on the part of business, governments and societies. Environmental risk management was termed command and control basically involved compliance with various regulations. Compliance responsibilities were typically handled by Engineering Departments with little involvement of risk managers. Companies and organizations must assess, mitigate, and monitor certain risks involved with their daily operations. A specific area of risk that must be identified is that on the local and global environment. Accidents, natural events, and deliberate assaults are all possible ways for an enterprise to cause pollution or other risks. This paper presents an environmental risk assessment and management research to assess the basic concept,methods and results as well as their applications and also discuss the existing problems and corporate strategies practices prospectus for decision making.