Final answer:
If environmental harm is discovered, the business entity causing it is often held accountable by both governmental bodies and affected parties through separate proceedings, such as the Juliana v. United States case. The legal system and government regulations are set up to address these issues, implementing penalties, fines, and mandatory corrections.
Step-by-step explanation:
It is true that if environmental harm is discovered, the business entity causing it is frequently held liable by both the government and the victims of the harm in separate proceedings. The government may impose fines and require remediation through regulatory channels, while individuals or class action parties can file lawsuits seeking compensation for damages experienced as a result of the environmental harm. Cases like Juliana v. United States exemplify how legal proceedings may address environmental issues, holding entities accountable for their actions or inactions. Additionally, the concept of negative externalities reflects the impact of such actions on third parties, justifying government intervention to correct market failures presented by pollution and other forms of environmental damage.
Companies may be subjected to various forms of liability and proceedings. For instance, legislation gives employees the right to lodge confidential complaints against their employers for health and safety hazards, leading to governmental fines if such complaints are substantiated. Businesses, like the examples of Firestone and Ford, face significant financial and reputational losses when their actions result in harm to individuals and the environment. Therefore, they risk long-term profits and executive stability when ignoring environmental responsibilities.