Private investment and environmental protection:: Alcoa-Köfém's strategy in Hungary

Dennis A. Rondinelli and Gyula Vastag ()

European Management Journal, 1998, vol. 16, issue 4, 422-430

Abstract: The future costs of environmental cleanup and protection in Central and Eastern Europe will be enormous, but governments and international organizations have inadequate resources to bring countries in the region up to international standards. Domestic and foreign private investment in the region can play important roles in reversing environmental degradation and in ensuring that manufacturers are more responsible in protecting the environment in the future. The experience of one multinational firm -- Aluminum Company of America (Alcoa) -- in acquiring a Hungarian enterprise and installing world-class environment, health and safety procedures illustrates how private investors can contribute significantly to improving environmental conditions in Central and Eastern Europe.

Date: 1998
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