Nutrients and proteins can also be extracted from wastewater for various business purposes. The question is what technology is effective in the treatment of dairy wastewater. Wastewater management, which includes treatment, is part of an effective environmental management system (EMS) which dairy factories should implement immediately at the start of the operation. In countries such as Greece, EMS implementation is not uncommon. This is so because, in the countryside where wastewater usually flows to rivers and adjoining bodies of water, wastewater has to be treated first before it has to be discharged. Environmental impact created by businesses, organizations and dairy factories has to be minimized in order to deliver sustainability for the next generation. An Environmental Management System is a way of addressing the impact on the environment by issuing guidance to organizations, businesses, and governments which maintain or regulate establishments that produce wastewater. An EMS answers the environmental compliance regulations and other relevant activities for environmental best practice. An EMS aims for sustainable development in the community, and minimize waste and hazardous materials. It is a set of rules and requirements that set up a policy for environmental promotion and can be effectively implemented through the guidelines set by ISO 14001. The International Standards Organization states that businesses should implement an EMS which carries out its environmental objectives in accordance with the legal and other significant requirements of the organization and the laws of the land. Wastewater treatment, to include reuse and recycle, is a best practice in line with ISO compliance. (Edwards, 2004) There are a number of methodologies in wastewater treatment that have been implemented by the dairy industry, but some problems in the methods have to be identified. This paper, therefore, will provide an in-depth analysis of some of the methods and technologies available, along with a business model that can be created out of these methods. 1.1 Objectives The objectives of this paper are: 1.1.1 To analyse how Greek dairy factories, conduct wastewater treatment and reduce wastewater generation that leads to minimization of effluent-treatment costs, and how to extract proteins and nutrients from wastewater; 1.1.2 To analyse the business side of the treated wastewater, taking into consideration the business model that can be created from the nutrients and proteins extracted and separated from the wastewater; 1.1.3 To provide an in-depth analysis of the methods and technologies available so that clear recommendations can be provided. 2. Literature Review There has to be a holistic view of the various ways of waste production, including collection and treatment and subsequent disposal of wastewater. The treatment to be implemented would depend on what type of wastewater is produced by the dairy factory or pond. Wastewater comes from milk, butter, yogurt, ice cream and other varieties which may be composed of desserts. Initial planning of wastewater treatment plant includes the following aspects: 1.) The various data and information gathered from the field surveys should be put together, inputted into a database, and carefully studied; 2.) What type of wastewater collection and system will be implemented?