Companies Are Devoting an Increased Amount of Attention to Environmental

Companies are devoting an increased amount of attention to environmental cost management.Briefly explain the difference between (A)private versus social environmental costs and (B)visible versus hidden environmental costs.Provide an example of each.
A.Private environmental costs are those borne by a company or individual.Social,or public,environmental costs are those by the public at large.An example of a private (corporate)environmental cost is the cost to British Petroleum Company (BP)to clean up the 2010 oil spill in the Gulf of Mexico.One of the public environmental costs of that spill is the unquantifiable costs to citizens of the destruction of the natural wildlife habitat.
B.Both private and social environmental costs may be visible or hidden.Visible environmental costs are those costs that are known and clearly identified with an environmental issue.Hidden environmental costs are those costs that have been caused by an environmental issue but not yet identified with it.Continuing the BP example,cleanup costs are visible environmental costs.Hidden costs are future negative health effects to humans and wildlife caused by the absorption of contaminants into the affected soils and water beds.