What are considered as environmental costs? Give brief descriptions on each and if possible, give illustrations on its importance

Different types of environmental costs :
Environmental costs are costs associated with the actual or potential deterioration of natural assets due to economic activities.
There are three major types of environmental costs :
•   Compliance : environmental compliance cost mean any cost or expense of any nature whatever be necessary to enable the property to comply with all the environmental laws in effect.
It includes fees, disbursements of attorneys, accountants, engineers, health, safety, and other consultation fees.

•   Preventive : it is the costs that are undertaken to prevent the production of waste.

•   Green : it’s the process that ensures the manner that the resources are utilised so that its impact on human health and the environment will be less . The current and future needs of the world will remain maintained. As a matter of fact, fewer pollutants are released into the environment.