| Publisher | Oxford Academics |
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| Total Pages | 9 pages |
| Article Link | https://academic.oup.com/ajae/advance-article/doi/10.1093/ajae/aay095/5290386 |
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| DOI | doi.org/10.1093/ajae/aay095 |
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| Tags | corporate social responsibility; sustainability; ecosystem services; cost-benefit analysis |
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| Publication Date | January 17, 2019 |
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| Abstract | This case study deals with The Dow Chemical Company’s (Dow) and the City of Midland, Michigan’s decisions on how to restore two adjacent pieces of property. Dow aimed to restore a greenbelt area with historical issues, and the City of Midland aimed to restore a brownfield property that bordered Dow’s greenbelt area. Dow has a stated goal to apply a “business-decision process that values nature” and to deliver $1 billion in “value through projects that are good for business and good for ecosystems.” The City of Midland has developed a 20-year Master Plan that includes goals for Midland to connect and maintain open spaces. In line with these goals, Dow and the City of Midland wanted to restore the greenbelt area and brownfield property by enhancing habitat and ecosystem services in a way that was also beneficial to Dow’s bottom line and the residents of Midland, respectively. This case study presents three alternative restoration designs along with detailed financial cost and environmental data for each design. Students perform a cost-benefit analysis, highlighting potential differences between how costs are calculated in a public setting relative to a private setting. In addition, students assess how the inclusion of important non-financial environmental data may be used to inform decision making. |
Created: 1/29/2019 10:15 AM (ET)
Modified: 1/29/2019 10:15 AM (ET)