The process of environmental regulation is generally a two step process. In the first step, a standard for environmental quality is set. Then, in the second step, a regulatory mechanism is established to attain this standard. In this article, we show how renewal theory can be used to set the...

This paper explores the issue of whether strict liability imposed on polluters has served to reduce uncontrolled releases of toxics into the environment. Because it imposes pollution damages upon the polluter, strict liability should create additional incentives for firms to handle hazardous...

This article argues that a key to sustainability is redirecting the law of economic development. From a historical perspective, sustainable development is an effort to integrate environmental protection and restoration with development. As a result, it is not possible to fully understand...

Recent literature has explored both physical and policy linkage between trade and environment. Here we explore linkage through leverage in bargaining, whereby developed countries can use trade policy threats to achieve improved developing country environmental management, while developing...

The proper treatment of voluntary environmental audits has generated a considerable amount of debate at many levels. On one side of the argument, industry has sought a privilege for voluntary internal environmental audits, arguing that this information allows a business to comply with...

Integrated decisionmaking is the foundational principle of sustainable development. Other principles, including the precautionary approach or principle, intergenerational equity, and public participation, all depend on integrated decisionmaking. Unsustainable development results from the...

The political and scientific debate related to a sustainable development has stressed above all the importance of environmental innovations with respect to exploiting resources, to production, consumption and disposal. Such environmental innovations can: *develop, introduce and apply new ideas,...

The use of cost?benefit analysis (CBA) in British environmental policy has gone through several stages. Early applications of CBA tended to ignore environmental impacts altogether, leave them for a subsidiary 'impact analysis', or provide only a partial monetization of impacts. Currently, CBA is...

The article provides a critique of British environmental policy, focusing in particular on the role of sustainable development as an organizing principle, the use of cost?benefit analysis (CBA) and economic instruments, and the design of the institutions responsible for implementing policy. It...