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Book part
Publication date: 30 July 1993

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Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

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Book part
Publication date: 15 August 2002

Andreas Kontoleon, Richard Macrory and Timothy Swanson

The paper focuses on the question of the extent to which individual preference-based values are suitable in guiding environmental policy and damage assessment decisions…

Abstract

The paper focuses on the question of the extent to which individual preference-based values are suitable in guiding environmental policy and damage assessment decisions. Three criteria for “suitableness” are reviewed: conceptual, moral and legal. Their discussion suggests that: (i) the concept of economic value as applied to environmental resources is a meaningful concept based on the notion of trade-off; (ii) the limitations of the moral foundations of cost-benefit analysis do not invalidate its use as a procedure for guiding environmental decision making; (iii) the input of individual preferences into damage assessment is compatible with the basic foundations of tort law; (iv) using individual preference-based methods provides incentives for efficient levels of due care; (v) determining standing is still very contentious for various categories of users as well as for aggregating non-use values. Overall, the discussion suggests that the use of preference-based approaches in both the policy and legal arenas is warranted provided that they are accurately applied, their limitations are openly acknowledged and they assume an information-providing rather than a determinative role.

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An Introduction to the Law and Economics of Environmental Policy: Issues in Institutional Design
Type: Book
ISBN: 978-0-76230-888-0

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Book part
Publication date: 22 December 2016

Changmian Zhang and Piercarlo Rossi

A balance between environmental protection and sustainable development of the energy industry is fostered in the majority of nations. China’s economic growth has been…

Abstract

Purpose

A balance between environmental protection and sustainable development of the energy industry is fostered in the majority of nations. China’s economic growth has been rapid in the past few decades, with the unfortunate side effect of environmental pollution and ecological deterioration in the country. In this chapter, we provide a study of Chinese legal rules about civil liability for environmental damages in the light of objectives of sustainable development of the energy industry.

Methodology/approach

The research approach is based on the Regulatory Impact Assessment.

Practical implications

International funds and private investors, especially those working in FDI, have to cope with the legal framework more or less favorable to investment and innovation deriving from experimentation and development of new energy products and processes. In each jurisdiction, the mechanism of civil liability is crucial in determining such a legal framework.

Social implications

The real functioning of civil liability as applied by the doctrinal and judicial interpretation has to be taken into account for minimizing the mass damages for the environment and individuals.

Originality/value

Different from other assumptions based on administrative rules or policy issues, the balance between environmental protection and sustainable development is considered in this chapter under a view that emphasizes the role of legal rules from a civil law perspective.

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China and Europe’s Partnership for a More Sustainable World
Type: Book
ISBN: 978-1-78635-331-3

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Article
Publication date: 14 September 2015

Victor A. Akujuru and Les Ruddock

This study aims at identifying the consequences of adopting statutory rather than market basis in assessing damages due to contamination to land. Most valuations…

Abstract

Purpose

This study aims at identifying the consequences of adopting statutory rather than market basis in assessing damages due to contamination to land. Most valuations undertaken to assess compensation for damages due to contamination on land are done with valuation methods prescribed by law for the compulsory acquisition of land.

Design/methodology/approach

A total of 80 registered valuation firms with experience in both compulsory acquisition and damage assessment participated in a questionnaire survey to ascertain the methods adopted in valuing when determining the compensation payable as damages due to land contamination and the need for a framework for such valuations, in addition to some archival documents relating to the relevant laws and some purposively selected valuation reports, which were reviewed.

Findings

The results of the analysis indicate that the use of compulsory acquisition valuation methods results in inadequate damages, which engenders conflicts among the stakeholders. The absence of any framework for damage assessment is responsible for the current practice in the Niger Delta, and it is recommended that international best practices utilising market basis of valuation be adopted.

Research limitations/implications

Most valuation methods available are useful for valuing commercial properties regularly traded in the market and not applicable to the Niger Delta, which is mostly rural with very few market transactions. It is expected that this study will enable oil and gas industry operators, professional valuers advising the land owners or operators in the industry and the government to differentiate compensation paid for compulsory acquisition and compensation required to placate those suffering losses due to contamination.

Practical implications

The findings will assist professional valuers to be more professional in valuing contaminated land devastated by oil spills.

Social implications

Adopting the findings will engender a greater acceptability of the results of valuations undertaken in the wake of an oil spillage disaster and ensure a peaceful environment for the oil operators and the entire populace.

Originality/value

The findings of this study are expected to assist policymakers in emerging economies and professional valuers acting in these environments to avoid precipitating crises by adopting inappropriate valuation techniques when assessing damages due to contamination. This study is original and has not been published elsewhere.

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International Journal of Disaster Resilience in the Built Environment, vol. 6 no. 3
Type: Research Article
ISSN: 1759-5908

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Agricultural Markets
Type: Book
ISBN: 978-0-44482-481-3

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Article
Publication date: 22 February 2021

Gabriella Marcatajo

The purpose of this paper is to propose a reflection on the importance of individual environmental protection, which recognizes the right of every citizen to take action…

Abstract

Purpose

The purpose of this paper is to propose a reflection on the importance of individual environmental protection, which recognizes the right of every citizen to take action to obtain compensation for environmental damage, as a damage to his or her existential condition. One of the most discussed environmental issues in Italy today is the lack of personal protection because the European legislator has provided for a public protection of environmental damage.

Design/methodology/approach

Design/methodology/approach based on the analysis of a well-known environmental disaster, the case of ex Ilva, the author shows how in Italy there is a dangerous lack of protection in environmental matters that contrasts with the consideration of the environment as a fundamental constitutional value of Italian and European law and the affirmation of the principle of sustainable development.

Findings

Findings the reconstruction of the environment as a common good aimed at realizing the fundamental needs of the person according to the theory of common goods and damage to the environment as an existential damage finds in the pronouncement of the European Court relevant confirmations. As a result of an individual legitimation alternative to the choice of the European legislator to confine the protection in the public sector.

Originality/value

This work will examine recent Italian cases concerning environmental disaster, the case of ex Ilva. This paper is the original work of the author and has not been submitted elsewhere for publication.

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Journal of Financial Crime, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 8 April 2014

Robert Charles Palmer

This article continues to assess the role of private nuisance as a common law tool for environmental protection, independent of the wider regulatory controls. It evaluates…

Abstract

Purpose

This article continues to assess the role of private nuisance as a common law tool for environmental protection, independent of the wider regulatory controls. It evaluates the decision in Cambridge Water and asks the question whether it would stand as good law before the Supreme Court. It concludes with illustrating the enduring role of the injunction in environmental protection and its capacity to coerce restorative environmental justice. The paper aims to discuss these issues.

Design/methodology/approach

The paper is predominately a classic doctrinal article as it is principally library-based analysing both primary sources (that both pre- and post-date the modern law reporting system) and secondary sources whilst engaging in leading academic commentary.

Findings

Nuisance developed to a point in the nineteenth-century where a simple form of the tort was visible. At that juncture, it had an “unchanged” essence that emanated from a strict liability reciprocal identity. Recent judicial activity has visibly adulterated that identity: this article casts doubts on juridical restrictions that assess the conduct of defendants to assess liability. It is suggested that it may not withstand the scrutiny of the Supreme Court if, and when, they are tested. In light of that analysis and considering the potency of injunctions, it is argued that nuisance law potentially has a positive future in environmental protection.

Research limitations/implications

Owing to the elected research approach, the scope of the article has been necessarily concentrated on succinct areas of a broader subject and viewed in a manner that works alongside the regulatory regime.

Originality/value

This paper recognises that nuisance law has a positive future in environmental protection especially if the courts are willing to embrace the historical paradigm which has served the common law in this field broadly well for hundreds of years.

Details

International Journal of Law in the Built Environment, vol. 6 no. 1/2
Type: Research Article
ISSN: 1756-1450

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Article
Publication date: 1 December 2005

Gamini Herath

The purpose of this paper is to examine the role of natural resources accounting in sustainable development. Natural resource accounting is important because the welfare…

Abstract

Purpose

The purpose of this paper is to examine the role of natural resources accounting in sustainable development. Natural resource accounting is important because the welfare of a nation measured in terms of gross domestic product (GDP) has several weaknesses.

Design/methodology/approach

This paper achieves this objective by identifying the present status, the constraints and the challenges for the economics and accounting professions.

Findings

The main weakness of GDP as a measure of development is that it does not take into account damages to environmental resources. However, the improvement of the concept to include environmental resource use is made difficult because of the difficulties of measuring environmental damage. The challenge to the economics and accounting profession is to ensure interdisciplinary collaboration, development of a framework to explicitly include the environment, development of credible valuation procedures for the environment, and inclusion of the various ethical positions advanced by various groups on the value of the environment.

Practical implications

Some headway has been made on these issues during the last decade but a major challenge still lies ahead in further improving these approaches so that sustainable development becomes an achievable goal.

Originality/value

This paper brings together diverse views and fusing them together providing a future path for research in environmental accounting to achieve sustainable development.

Details

International Journal of Social Economics, vol. 32 no. 12
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 14 June 2013

Javed Siddiqui

The paper seeks to respond to calls by Jones for more studies exploring the possibility of operationalising accounting for biodiversity.

Abstract

Purpose

The paper seeks to respond to calls by Jones for more studies exploring the possibility of operationalising accounting for biodiversity.

Design/methodology/approach

Archival data are used to produce a natural inventory report for the Sundarbans, the world's largest mangrove forest declared as a World Heritage site by UNESCO in 2007.

Findings

The study extends prior research on biodiversity accounting by exploring the applicability of Jones' natural inventory model in the context of Bangladesh. The results indicate that application of Jones' natural inventory model is feasible in the context of developing countries such as Bangladesh. It is also recognised that the socio‐economic and political environment prevailing in developing economies may lead to the emergence of important stakeholder groups including local civil society bodies, international donor agencies and foreign governments. Biodiversity accounting may provide a legitimate basis for the government in allaying concerns regarding environmental stewardship and assist in negotiations with powerful stakeholder groups on important issues such as financial assistance after natural disasters and claims to the global climate change fund.

Originality/value

This is one of the early attempts to operationalise biodiversity accounting in the context of a developing economy.

Details

Accounting, Auditing & Accountability Journal, vol. 26 no. 5
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 18 April 2008

Muawya Ahmed Hussein

The purpose of this paper is to provide estimates of damage cost for several areas of the environment. In particular: to estimate the cost of degradation as a percentage…

Abstract

Purpose

The purpose of this paper is to provide estimates of damage cost for several areas of the environment. In particular: to estimate the cost of degradation as a percentage of gross domestic product (GDP) at the national level; to enhance local capacity in environmental economics, in particular in the valuation of environmental degradation; and to provide an input to inter‐sectoral environmental priority setting.

Design/methodology/approach

To achieve the above objectives a framework was developed to estimate the cost of environmental degradation in seven countries in the region, for six categories. Estimates reflect order of magnitude and therefore represent an indication of actual damage costs. A range of estimates was provided to reflect the uncertainty of the results. Damage costs are presented in annual values (in local currencies, in US$ dollars) and as a per cent of GDP. Expressing costs as a share of GDP provides a sense of magnitude and will allow cross‐country comparison.

Findings

The damage cost of environmental degradation in Middle East and North Africa (MENA) in 2000 is estimated at US$ 9 billion per year, or 2.1‐7.4 per cent of GDP, with a mean estimate of 5.7 per cent of GDP. In addition, the damage cost to the global environment is estimated at 0.5‐1.6 of GDP, with a mean estimate of 0.9 per cent of GDP.

Research limitations/implications

Owing to data constraints, no cost estimates are provided for some impact such as: degradation associated with industrial, hazardous and hospital waste, biodiversity loss, and impact of inadequately treated wastewater, thus calculations often represent lower bound estimates.

Originality/value

This paper is a contribution in a process towards the use of environmental damage cost assessments for priority setting and as an instrument for integrating environmental consideration into economic and social development.

Details

Management of Environmental Quality: An International Journal, vol. 19 no. 3
Type: Research Article
ISSN: 1477-7835

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