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In search of greener profits

Environmental regulations on trade are close at hand. A recent study measures the cost of compliance

by Executive Editors

There was a big ruckus in Selaata a few weeks ago when local Greenpeace representatives protested against the Lebanese Chemical Co. The environmental group accuses the phosphate fertilizer plant of polluting coastal waters with high levels of toxic waste. The chemical company vehemently denies the allegation, saying its discarded waste is below internationally recognized hazardous levels – a claim validated by the assessment report of a French company they hired. Greenpeace brushed aside the findings as biased. The ministry of environment publicly admitted that the factory is polluting and claims to be monitoring the situation. It’s easy to dismiss the whole irksome episode as typical antics of extremist groups. But other issues come to play and industrialists pay heed because it pertains to their lifeline: exports. The tendency worldwide is to integrate environmental policies into free trade agreements. Lebanon’s so-called environmental regulations aren’t strictly enforced, and subsequently environmental standards aren’t

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