Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability cap can improve caretaking.

Modern society mitigates and transfers risks in a variety of ways, which range from catastrophe prevention and insurance solutions through to injustices of a minor and inconspicuous nature. We illustrate that the measures taken depend on the uncertainty about the risks in question, and involve...

This article outlines the development of English company law in the four centuries before 1900. The main focus is on the evolution of the corporate form and the five key legal characteristics of the corporation - separate legal personality, limited liability, transferable joint stock, delegated...

Recent litigation seeking damages for the environmental and economic effects of global warming is targeting alleged producers of anthropogenic, atmospheric carbon dioxide. These defendants will inevitably seek coverage for the costs of litigation and any resulting judgments under their...

This Article considers the role of property rights in efforts to sequester underground hundreds of millions of tons of carbon dioxide (CO2) per year from power plants and other industrial facilities in order to mitigate climate change. This technology, known as carbon capture and sequestration...

The Pan-Canadian Framework on Clean Growth and Climate Change is designed to put Canada on track to meet its Paris commitments. A key pillar of the plan is the introduction of a pan-Canadian carbon price by 2018. However, four Canadian provinces, nearly 85% of the Canadian economy and...

This article discusses the consequences of changing taxes and tariffs as tools to move towards a low carbon economy, in the context of international efforts to minimize the effects of climate change. This article argues that under the current regime, the domestic producers of the countries...

Since the Kyoto Protocol, black carbon and other non-gaseous short lived climate pollutants (SLCPs) have played little role in global climate policy making. Over the past ten years, however, there has been an increasing recognition in the climate science literature of their importance for the...

This article explains why policy makers should seriously consider substantial early reductions in greenhouse gas emissions as a part of any post-Kyoto framework, and sets out suggested elements of a framework for early action in a post-Kyoto agreement. Substantial early reductions are needed...

The U.S. Department of Energy is working to develop and implement commercial-scale carbon capture and storage. This article discusses the technical and legal problems that must be resolved to have a viable program. It concludes that whether carbon sequestration becomes a commercial reality will...