Most European Union countries are committed to some form of regulatory impact assessment, and in some cases these assessments involve the formal use of cost–benefit analysis. The European Treaty of Union also calls for a comparison of costs and benefits for all European regulations....

This article examines the political economy of agreements on global greenhouse emissions reduction. The author explains the complex emissions trading mechanisms set up under the 1997 Kyoto Protocol and considers the likely size and structure of a future market for emissions credits.

Biodiversity is important for human wellbeing, but it is declining. Measures to conserve biodiversity are essential but may be a waste of effort if several paradoxes are not addressed. The highest levels of diversity are in nations least able to practise effective conservation. The flow of funds...

One of the most controversial areas of economics is the practice of discounting: attaching a lower weight to future costs and benefits than present costs and benefits. Discounting appears to offend notions of sustainable development and the interests of future generations. Recent advances in the...