Discuss the following statement: "Effective environmental management makes firms more competitive." corporate governance practices ensure that stakeholders, including shareholders, employees, customers, and the public, have access to accurate and relevant information about the company's operations, financial performance, and decision-making processes. It establishes clear lines of responsibility and accountability within the organization. This means that individuals, including executives and board members, are held responsible for their actions and decisions. Companies with good governance practices are often viewed more favorably by investors and lenders. This can lead to easier access to capital, better credit terms, and a lower cost of capital