As financial institutions and policymakers worldwide are considering how to integrate sustainability considerations throughout financial systems, a critical question is whether banks can effectively assess and monitor borrowers' environmental credit risk. China's green credit reforms, part of...

In the past two decades, the U.S. Congress has passed several major environmental statutes that designate natural resource management agencies as trustees of the resources on behalf of the public and that allow the trustees to recover damages for injuries to public resources from releases of...

We provide a new and more complete analysis of the origins of the Dust Bowl of the 1930s, one of the most severe environmental crises in North America in the 20th Century. Severe drought and wind erosion hit the Great Plains in 1930 and lasted through 1940. There were similar droughts in the...

Few issues are more contentious for local communities than industrial pollution. When local industries pollute, lawmakers and regulators must balance two primary concerns: economic prosperity and the environment. The role of political pressure is well-documented in environmental policy. What is...

This article examines economic and legal constraints that determine whose losses are included in natural resource damages as a result of an oil spill or hazardous-substance release. For example, the article describes the circumstances under which use losses experienced by young children would...

We study the optimal choice of abatement intensity and certificate purchase for the case that pollution levels are only partly influenced by abatement levels. We find that this uncertainty makes the complementary use of penalties for exceeding allowed waste levels necessary. Also the...

Anthropogenic Environmental Degradation describes environmental degradation caused by effects or processes derived from human activities, as opposed to effects or processes that occur in the natural environment without human influences. There are a plethora of laws and regulations both, local...

The basic measure of natural resource damages in USA environmental liability statutes is the cost of restoring the injured resources, plus compensation for the interim loss of resources from the time of injury until their full recovery. In contrast, until 1996, the international Convention...

In recent years, it has become increasingly clear that China’s rapid economic development has come at a significant environmental cost. Pollution problems are now a source of serious public concern, at times even social unrest. The government has responded with an ambitious reform program that...

This paper offers comments on a paper recently posted on the Social Science Research Network, “Do Housing Prices Reflect Environmental Health Risks? Evidence from More than 1600 Toxic Plant Openings and Closings.” Basically, the paper purported to measure the impacts on property values and...