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The purpose of this article is to examine the national law regimes related to the remediation of contaminated land.

The methodology used is comparative. Models for different systems are described on the basis of varying interpretations of the polluter pays principle. The regimes present in the Member States are then analysed to see which model they have adopted. A comparator from each model group is then considered.

This article presents three key findings. First, it concludes that the extent to which additional national legislation relating to environmental damage is permitted, which depends upon the notion of “more stringent” legislation, is incoherent where more than one interpretation is given to the polluter pays principle. Second, the different interpretations given to the principle undermine harmonisation. Finally, this has wider implications for how we justify liability for contaminated land.

This comparative study of the interpretation of the polluter pays principle, through its implementation in Member States, provides a valuable and novel insight into environmental liability regimes in Europe. It also demonstrates the different type of regimes that are developed on the basis of such different interpretations. Although the different national attitudes to contaminated land policy and remediation have been considered before, this article adds to this debate by suggesting a central cause of such variation in the shape of different interpretations of a principle of the European Union.

The requirement of full cost recovery for water services including environmental and resource costs in accordance with the polluter pays principle in Art. 9 EU-Water Framework Directive is a unique provision in the history of the European environmental law. The wording of the provision is a compromise between the Council's and the Parliament's versions that mirrors different conceptual ideas on how to internalize environmental and resource costs. Art. 9 now contains a two-step concept for the achievement of the aim. The uniform implementation of the full cost-recovery calls for common accounting standards for the calculation of financial cost and a common methodology for the estimation of environmental and resource costs on the European level. In Germany, the requirements of the first step are partly fulfilled, but necessities of the second step are not being met at the moment.

As the cost of completing a transaction, the green merger and acquisition (M&A) premium paid on mergers can influence whether the acquisition creates value or not. However, studies linking M&A premiums to firm value have had mixed results, even fewer studies have examined the effect of green M&A premiums on bidders’ firm value. The purpose of this paper is to investigate whether and how green M&A premiums affect firm value in the context of China’s heavy polluters.

Using 323 deals between 2008 and 2019 among China’s heavy polluters, this paper estimates with correlation analysis and multiple regression analysis.

Green M&A premiums are negatively associated with firm value. The results are more significant when firms adopt symbolic rather than substantive corporate social responsibility (CSR) strategies. Robustness and endogeneity tests corroborate the findings. The negative relation is stronger when acquiring firms have low governmental subsidy and environmental regulation, when firms have overconfident management, when firms are state-owned and when green M&A occurs locally or among provinces in the same region. This study also analyzes agency cost as an intermediary in the relationship between green M&A premium and firm value, which lends support to the agency-view hypothesis.

This study provides systemic evidence that green M&A premiums damage firm value through agency cost channel and the choice of CSR strategies from the perspective of acquirers. These findings enrich the literature on both the economic consequences of green M&A premiums and the determinants of firm value and provide a plausible explanation for mixed findings on the relationship between green M&A premiums and firm value.

This paper aims to verify whether the legitimate pressure of external forces on heavily polluting firms’ corporate social responsibility (CSR)-related behaviors affect firms’ assurance strategy in the Chinese context. The authors argue that, under external pressure, as a source of legitimacy, the assurance over CSR reports allows the business behaviors of heavy polluters to be recognized by society.

This paper sampled listed heavy polluters in China from 2011 to 2018 and used the multiperiod logit model to examine the effects of external corporate governance on firms’ assurance decisions. Principal component analysis methods were used to construct a comprehensive framework of external corporate governance. The indicators were obtained from the China Stock Market and Accounting Research databases, the NERI Report and the China Urban Statistical Yearbook.

This paper confirms that external corporate governance positively affects firms’ assurance decisions, and good financial conditions, well-governed internal controls and sufficient government subsidies positively moderate this effect.

The findings provide feasible ways to encourage firms’ high-quality corporate environmental information disclosure, thus providing valuable guidance for policymakers and other stakeholders to effectively supervise firms’ CSR behaviors.

The findings are of great importance in encouraging high-quality corporate environmental information disclosures, improving the support of capital markets among developing countries and drawing social attention to the environmental protection and social responsibility of heavy polluters.

The research extends the current research in the field of social environmental accounting by using legitimacy theory to explain firms’ assurance motivations. Additionally, this paper focuses on the practices of assurance services in the emerging economy and provides suggestions for developing assurance over CSR reports.

Examines the emergence of environmental legislation and the response of organizations. Most legal academics have attempted to explain these responses in the context of rational choice theory, using an economic framework such as the rational polluter model. Argues that whilst the rational polluter model offers a partial explanation of organizations’ behaviour in response to environmental legislation, it does not explain why the majority of organizations are law abiding. Examines work on legitimacy theory, and by drawing on that work and placing it in the context of case law, suggests that it offers a better explanatory framework.

To date, many environmental policy discussions consider inequalities between groups (typically by comparing the average or aggregate resource use of one group to another group), but most ignore disproportionalities within groups. Disproportionality, as discussed in a small but growing body of work, refers to resource use that is highly unequal among members of the same group, and is characterized by a positively skewed distribution, where a small number of resource users create far more environmental harm than “typical” group members. Focusing on aggregated or average impacts effectively treats all members of a group as interchangeable, missing the few “outliers” that actually tend to be responsible for a large fraction of overall resource use. This chapter offers reasons why we should or should not expect disproportional production of environmental impacts (from both mathematical and sociological perspectives), looks at empirical evidence of disproportionality, and offers a framework for detecting disproportionality and assessing just how much difference the outliers make. I find that in cases where the within-group distribution of resource use is highly disproportionate (characterized by extreme outliers), targeting reduction efforts at the disproportionate polluters can offer opportunities to decrease environmental degradation substantially, at a relatively low cost.

The purpose of this article is to examine the regime to remediate contaminated land in the UK set out in Part 2A of the Environmental Protection Act 1990 and to analyse the UK Government's intent and objectives in introducing the regime. The legislative provisions and the statutory guidance that accompanies that legislation are then analysed to determine whether those objectives could have been met.

A research approach was taken to trace the legislative history of Part 2A and to analyse the statutory provisions and the statutory guidance. The approach included researching Parliamentary debates on the statute, consultations on the statutory guidance, other information published by the UK Government, commentaries on the regime, and contaminated land regimes in other jurisdictions.

The paper found that the introduction of a contaminated land regime that delegates primary implementation and enforcement authority to local authorities, and that severely limits their discretion in doing so, has resulted in a regime that has proven to be unworkable in practice and that has failed to meet its objectives.

The article is the first paper to examine the legislative intent and objectives behind Part 2A and to analyse their effect on the provisions in the statute and the statutory guidance and their implementation and enforcement.

This paper aims to understand what green tax measures Portuguese corporate tax law foresees and whether the measures observe the polluter pays tax principle.

The legal research method is applied to achieve the goals. Specifically, the research analyzes the most relevant corporate tax legislation to identify legal provisions influencing taxpayers’ behavior in sustainability decisions, particularly corporate income tax (CIT) and value-added tax (VAT) laws.

The results show that the Portuguese Green Taxation Law introduces several environmentally friendly taxation measures by benefiting or increasing the tax burden. The influence on the CIT law results from instruments such as the autonomous taxation of expenses, depreciation, provisions and the local corporate tax. In the VAT, electric tourism vehicles’ VAT deduction is possible. These measures enforce the polluter pays tax principle, increasing the tax burden on less environmentally friendly options and decreasing the tax burden on more green economic choices. These measures directly influence the companies’ choice because of the increase or decrease tax burden according to more or less polluting choices.

This study only studies the Portugal case.

This study highlights the Portuguese experience reconciling taxation and environmental dimensions.

Rising greenhouse gases have contributed to global warming above the pre-industrial levels with detrimental effects on world climatic patterns. Extreme weather has inflicted drastic impacts, including loss of lives and livelihoods and economic disruption. However, collective international cooperation in adopting greenhouse gas emission mitigating measures can translate into long-run beneficial effects of improving environmental quality. This study examines if international environmental cooperation among the world's top ten polluters can reduce production side emissions.

The panel estimation procedure was applied to data from ten top polluting countries from 2000 to 2019.

The results revealed a statistically significant inverse association between a nation's commitments to international environmental treaties and carbon dioxide emissions. Other than confirming the environmental Kuznets curve effect, industrial intensification, international trade and law rule are other strong correlations of carbon dioxide emissions.

The main policy implication is the urgency for the leaders of the world's top ten polluters to actively cooperate in developing and implementing new production-side carbon emission measures as well as the implementation and enforcement of existing international treaties to minimize further environmental damage and let the countries in the lower ranks of carbon emissions to enjoy the long-run benefits of the decarbonized world.

This study makes a new contribution to the environmental research literature by unfolding how collective global cooperation on environmental challenges can help reduce environmental damage in a coherent analytical framework.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-09-2022-0598

Financial assurance rules, also known as financial responsibility or bonding requirements, foster cost internalization by requiring potential polluters to demonstrate the financial resources necessary to compensate for environmental damage that may arise in the future. Accordingly, assurance is an important complement to liability rules, restoration obligations, and other regulatory compliance requirements. The paper reviews the need for assurance, given the prevalence of abandoned environmental obligations, and assesses the implementation of assurance rules in the United States. From the standpoint of both legal effectiveness and economic efficiency, assurance rules can be improved. On the whole, however, cost recovery, deterrence, and enforcement are significantly improved by the presence of existing assurance regulations.