Acta Universitatis Danubius. Œconomica, Vol 15, No 1 (2019)

Abstract

Iceland, state member of the Nordic Cluster (Norway, Denmark, Sweden, Finland, Iceland) is dominated by equalitarian cultural values which encourage the collective distribution of resources and common action. The Scandinavian Nations are having one of the highest levels of the environmental protection laws in the World ant their performance orientation is situated in bottom up position inside the European Union (sustainable development with emphasis on quality of the products). The environmental performance is the expression of a human oriented society where the manifestation of institutional collectivism is among the greatest value-added for the national welfare. The objective of this article is to examine the environmental management strategy in Iceland as part of the Nordic equalitarian cultural values and the benchmarking influence of the Nordic performance in this field.