Private equity (PE) ownership leads to a 70% and 50% reduction in the baseline rates of two distinct measures of toxic pollution. Novel satellite imaging and administrative datasets from the oil and gas industry allow us to identify the reduction by comparing projects from PE-backed firms to...

This paper develops a model showing how the environmental liability regime and the precision of the disclosed environmental performance indicator (EPI) affect managers' incentives (1) to reduce actual pollution and (2) to manipulate the EPI. I assume a company with a separation of ownership and...

Under the international agreements on climate change, states have a responsibility to mitigate their greenhouse gas emissions. We may refer to this as an “obligation to regulate”. This article argues that the general, treaty-derived obligation to regulate is supplemented by a separate legal...

The polluter pays principle (PPP) is often thought of as an aspirational or guiding principle rather than one that is justiciable by courts. While the principle features in many international conventions in varying formulations, it has not been recognized as a principle of customary...