Private sector involvement in environmental management Essay

Private sector involvement in environmental management - Essay Example There are various advantages that are associated with the involvement of the private sector in the issues of environmental management, more so, as regards the management of water resources and biodiversity. One of these advantages is the provision of technical assistance in the environmental management issues. The private sector may be well equipped and versed with technical expertise that is relevant for the management of water and biodiversity (Brown, Aradau, and Budds, 15). Thus, the involvement of the private sector in this practice will serve to ensure that such expertise is availed in the management of water and biodiversity projects. This ensures that the whole process becomes successful and is implemented within the shortest duration possible, in that the presence of technical assistance helps the whole project to run smoothly and efficiently, saving on the time that would be involved in correcting mistakes arising from the lack of technical skills in the project implementati on (17). Provision of private finance is the other advantage associated with the involvement of the private sector in environmental management programs (23). Such finances provided by the private institutions may be in form of loans or grants towards such projects. This is an advantage in that the financial provision by the sector serves to supplement the public finances that could have been allocated for such a program. In so doing, a project that could have been implemented over many years due to financial challenges is implemented within a short duration. The provision of financial support from the private sector also serves to ensure that, suitable and most recent technology can be accessed and acquired for the implementation of the environmental management projects. This way, the projects are implemented more rapidly and efficiently, while ensuring that the necessary tools and equipment, which are most suitable for the project, are afforded and involved in the project execution (59). Additionally, the provision of private finance serves to ensure that the project can run continuously, since there is some aspect of public finance that requires many bureaucratic procedures to be undertaken before the finances are availed for used in the project. Most limiting factor associated with public finance, is the fact that, if any additional finance is deemed necessary, then such has to wait until another budget period, when such supplementary finances can be planned (161). In contrast, the private sector finance is easily accessible and requires less bureaucracy to obtain and use. The involvement of the private sector in environmental management is also advantageous in that it affords an opportunity for contracting a single contractor, who will deal with the whole project, from the design phase to completion (39). If such projects would be left wholesomely to the public sector, their implementation would be a great challenge, in that, the project would require vari ous departments of the public sector to be involved at different phases and stages of project implementation. Thus, the planning department would be required to plan for the project, the architecture department to design the project structures and the other departments to take respective phases of the project execu