The 'Not-In-My-Backj'ard' (NIMBY) syndrome is analyzed in economic decision making. Belief statements that refiect specific AY.WBKconcems are subjected to factor analysis and the structure reveals two dimensions: tolerance and avoidance. Tolerance rellects an acceptance of rational economic arguments regarding the siting of a hazardous waste facility and avoidance reflects a more personal fear of-consequences. Analy.sis identifies demographic characteristics of individuals likely to exhibit these two beliefs. These beliefs also are shown to influence the acceptance of a hazardous waste disposal facility in ones neighborhood when compensation is offered.

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Recent years have seen the environment emerge as one of the most pressing issues facing American business. Eventually, environmental costs will affect the bottom line of every American company. A recent study in the National Law Journal estimates that cleanup of the nation's known hazardous wastes sites will cost $752 billion over thirty years under current environmental policies. Environmental legislation and regulations impose annual compliance costs estimated by the Environmental Protection Agency at more than $30 billion. In the near future, environmental expenses for cleanup, regulatory compliance, and management are anticipated to grow to between 2.5 and 3 percent of GNP. Corporations that wish to be competitive must successfully manage these costs while maintaining or improving their role as responsible corporate citizens. Implementing a comprehensive system for identifying and managing environmental costs requires a multidisciplinary team effort. Environmental costs impact product selection, design and pricing, capital budgeting, and future strategic direction. In order to make informed and meaningful managerial decisions on environmental programs, real cost data are vital. An environmental management systems (EMS) requires information to set goals and then monitor progress towards those goals over time. This article will discuss the current cost accounting systems (CASs) available to support the myriad goals of environmental management systems. In addition, the article will outline a framework for plotting the location of your current EMS on a matrix of regulatory and information requirements and evaluating whether your corporation's CAS is adequate to support the goals and objectives set by your environmental management program. By anticipating future regulatory and information requirements, flexible systems can be developed to adapt to new and more stringent regulations and more complex information requirements.

With all the complexities of environmental reporting, many companies take the easy way out. They do only the minimum required. That's not really smart. Shortcuts can come back to haunt yòu later. We believe there's only one good way to prepare environmental reports: Make each one a world‐class document.

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