This book takes a comparative perspective of practice in the European Union, North America, Japan and Australasia, arguing that existing legal reforms to promote sustainable development are unlikely to be successful unless environmental policy can be diffused and embedded in the financial services sector. This sector plays a crucial role in creating the financial conditions that allow much economic development to proceed. Financial markets are already highly regulated in pursuance of various public policy objectives, and there is scope to adapt existing regulation to incorporate environmental aspects into the financial services sector. In terms of specific reforms, the book focuses on the role of corporate environmental reporting, economic instruments and liability rules to provide a proper context for engaging financial organisations with the environment, as well as reforms to the system of prudential regulation that currently governs this sector. Beyond the focus on the financial services sector, the book raises complex questions regarding the relationship between the state and market institutions in environmental policy, and will appeal to scholars from a wide range of disciplines interested in problems of environmental governance.

A detailed overview of the law-and-economics methodology developed and employed by environmental lawyers and policymakers.

The 2002 New Delhi Declaration of Principles of International Law relating to Sustainable Development set out seven principles on sustainable development, as agreed in treaties and soft-law instruments from before the 1992 Rio ‘Earth Summit’ UNCED, to the 2002 Johannesburg World Summit on Sustainable Development, to the 2012 Rio UNCSD. Recognition of the New Delhi principles is shaping the decisions of dispute settlement bodies with jurisdiction over many subjects: the environment, human rights, trade, investment, and crime, among others. This book explores the expanding international jurisprudence incorporating principles of international law on sustainable development. Through chapters by respected experts, the volume documents the application and interpretation of these principles, demonstrating how courts and tribunals are contributing to the world’s Sustainable Development Goals, by peacefully resolving disputes. It charts the evolution of these principles in international law from soft law standards towards recognition as customary law in certain instances, assessing key challenges to further judicial consideration of the principles, and discussing, for instance, how their relevance for compliance and disputes related to the 2015 Paris Agreement on climate change. The volume provides a unique contribution of great interest to law and policy-makers, judges, academics, students, civil society and practitioners concerned with sustainable development and the law, globally.

It is a commonplace that pollution knows no borders, and that environmental law must allow for cross-border implementation. The European Union specifies this principle in EC directives on integrated pollution prevention and control (IPPC), on environmental impact assessment (EIA), and on the control of major accident hazards involving dangerous substances (Seveso II). This is the first book to investigate from both empirical and normative perspectives the effectiveness of these directives at the national level. It provides by far the most extensive comparative analysis and evaluation of the industrial permitting and inspections, EIA, and major accident prevention in the EU. Offering an in-depth study of the transposition and implementation of EC environmental directives in eight EU member states (Denmark, France, Germany, Italy, the Netherlands, Spain, Sweden, and the United Kingdom), the author who has played a significant role in the formulation of environmental legislation and regulation at both the national (German) and EU levelsand¿provides a stable base for an assessment of the benefits and costs of the integrated approach to environmental protection. Among the factors considered are the following: key features of national constitutional, administraand¬tive, and judicial systems which provide the framework for environand¬mental regulations and their implementation in the eight countries under study; procedures and substantive requirements transposing the IPPC, EIA and Seveso II directives into national laws; and evaluation of national deficiencies and the extent of muddling through. The empirical part of Dr Bohne's analysis draws on 138 expert interviews with public and private actors, a survey of 178 public authorities, and document analyses of selected industrial permits and environmental impact statements. His comparative analysis of procedural, organizational, and substantive integration makes it possible to identify and compare national accomplishments in regulatory integration, and offers new insights into the effectiveness and limits of EC law. The study concludes with a discussion of the implications of the findings for European governance and better regulation after the enlargement of the EU. This thoroughly researched, rigorous, and insightful study will be of great interest and value to policymakers, regulators, business people, environmental NGOs, consultants, and lawyers, as well as to students of environmental policies and European governance.

It is the publicity about the Pollutant Release Inventory’s data which creates an incentive for firms to achieve emission reductions. Accordingly, public access to environmental information constitutes a core characteristic of the aforementioned inventory. Here, in essence, two facets arise. First, with regard to the collection, it is disputed whether such information, which may comprise confidential commercial and industrial information in the EU as well as trade secrets in the US, can be protected under fundamental and constitutional property rights respectively. Second, in the context of dissemination and utilisation, it is arguable whether the information indeed impacts polluters and produces an outcome that secures a certain level of environmental protection. The author responds to the first issue by taking the EU and US jurisdictions into account and strives to analyse how this novel form of Internet disclosure liberates market mechanisms in the quest for effective and efficient emission reductions.

This volume provides a framework for the doctrinal foundation of sustainable development as a principle of integration in international law. The work departs from the fragmented nature of the international legal system, a system that lacks integrative principles for creating coherent relations between, for example, the international trade regime of the WTO and multilateral environmental agreements. The specific focus is on a legal analysis of potential normative conflicts between climate measures as regulated by the UNFCCC and the Kyoto Protocol, in particular the flexibility instruments of international emissions trading and the Clean Development Mechanism, and the rules of the WTO. Attention is then given to the application of sustainable development as a principle of integration in relation to these conflicts. The book takes on several important, timely and demanding tasks related to the urgent global challenge of climate change and the capacity of international law to deal with complex and multifaceted issues. It addresses in particular: a [ The relations between various international legal regimes, especially between international trade law and climate law, a [ The legal status of sustainable development as a principle of international law, and a [ The analysis of interpretative methods and of principles that may serve to address conflicts between rules pertaining to different legal regimes. Here, integration as part of legal reasoning becomes particularly relevant.