Market-based Instruments for Environmental Policymaking in Latin America and the Caribbean: Lessons from Eleven Countries

This report is a summary of country studies in Latin America and the Caribbean, addressing the use of market-based instruments (MBIs) and command-and-control (CAC) measures for environmental management in the region. Even though MBIs can significantly add efficiency to existing CAC mechanisms, the scope of MBIs should match the countries institutional capacity to implement them. Gradual and flexible reforms are likely to succeed within the current regional context of continued institutional changes. A key function of MBIs is usually revenue collection, though it does not necessarily lead to successful environmental management. The study suggests that revenues should be channeled to local authorities for an effective MBI's implementation. The report also critiques the regular practice of international donor agencies in recommending the solutions suitable for developed countries, without considering the institutional conditions in developing countries. Further, the study explores both the successes and difficulties experienced in the region regarding regulations, macro-policies, and MBIs; the institutional frameworks of the countries under review; and, the issues considered in the design of MBIs, in order to promote a beneficial dialogue among them

opportunities and outlook

The field of sustainable finance has gone through rapid development over the last decades, due in part to the sense of urgency that has been building up. Legislative tools have been developed, particularly in the European Union, to reduce or mitigate atmospheric emissions of greenhouse gases, which cause climate change and other unfavorable effects. Yet, in the specific situation of green bonds, private firms have made the bulk of the innovation and development of the essential legal mechanisms. This could be explained by the market's quick response to this innovation as well as the inherent demand of green bonds for some form of certification. There is a requirement to confirm that the funds are truly properly distributed and that the project is in fact "green" because they are distinguished by the funneling of proceeds to specific initiatives instead of being included in a company's balance sheet. As a result, a certifier must play a proactive role in addition to ensuring that the framework is used throughout the duration of the project. As a result, there is not only a need for the framework but also for a certifier to play a proactive role in making sure all monies are used appropriately throughout the course of the project. The Green Bond Principles and the Climate Bond Standards are now the most often utilized general principles and certification programs because there are no consistent standards in place. The necessity to "create an EU green bond standard that promotes sustainable investment in the most convenient way" was highlighted more recently by the European Green Deal. A proposal for a regulation of the European Parliament and of the Council "on European Green Bonds" was released by the European Commission on July 6, 2021, in accordance with that mandate (EuGBR). The proposed Regulation outlines a system for the registration and oversight of external reviewers as well as a framework of guidelines for bonds that achieve ecologically friendly goals in accordance with the Taxonomy Regulation. The "European Green Bond" (or "EuGBR") specifies uniform guidelines that apply to bond issuers and reviewers. In this work we set out to analyse these main frameworks and their structure and then to analyse the emerging European unifomization effort. We also intended to analyse the advantages, finacial, reputanional or any other, of the use of this financial instrument

The Political Landscape of Hydraulic Fracturing: Methods of Community Response in Central Arkansas

This thesis looks at the current fracking debate on a national scale, before focusing specifically on how this debate is playing out in the landscape of Central Arkansas. Focusing on the lack of national regulation, the unique array of state regulations that have popped up are assessed in their effectiveness on the ground through speaking with residents of the area. The demographics of these residents are analyzed within an assessment of environmental injustice vulnerability. This ethnographic approach also compares the de jure v. de facto outcomes of these regulations through the narratives of residents working with organizations across the political spectrum, and specifically seeks to gauge their own personal stories and experiences with regulators and the fracking industry. Other key actors are identified. This thesis concludes that agency capture is a reality for these residents, and their perceived powerlessness drastically increases the power of the gas companies that monopolize the political agenda in the region

Feeding the World: How Changes in Biotech Regulation Can Jump-Start the Second Green Revolution and Diversify the Agricultural Industry

As the Earth’s population climbs from 7.7 billion in 2019 to almost 10 billion by mid-century, farmers will need to increase food production by 70 percent. This Article analyzes the tools available to achieve this demanding goal. We assess changes in agriculture related to both the organic industry and the high-tech sector that are enabling farmers to become more efficient. Critically, biotechnology offers great promise to hasten the pace of increased agricultural efficiency through genetic engineering. While genetic modification has been controversial, we cannot exclude any viable policy option, especially one with so much promise. Yet the current regulatory environment impedes bringing to market new foods produced through biotechnology and acts as a barrier to diversity for both products and producers. Our argument is straightforward: in a world of risk versus promise, the regulation of biotechnology must be correlated with the level of risk. We advocate for a system of regulation of crops based on risk—one that is tied to the product itself, not the process that created it. The complicated, expensive, and time-consuming process currently imposed on bringing genetically engineered crops to market is divorced from the potential risks these crops actually pose. We specifically suggest adopting a single-entry point to the regulatory system, creating a registry of genetically engineered products to avoid the public perception issues that genetically modified organisms (“GMOs”) have faced to date, and shifting regulatory triggers to better associate the regulatory burden with the actual risks being put forth. Proposals by the Trump Administration in June 2019 may move regulation in the direction we have suggested, but these proposed rules present other issues. A second Green Revolution that embraces the most promising available technology can help free the future of agriculture from the control of dominant agrochemical companies and help feed the world

Greening industrial production in China : reinvent a cleaner future through policy, strategy and technology

Notre recherche vise à découvrir pourquoi et comment les entreprises industrielles répondent aux problèmes environnementaux dans « l'atelier du monde ». Nous élaborons une approche interdisciplinaire en intégrant la modernisation écologique (MÉ) et l'hypothèse de Porter pour analyser l'action environnementale des entreprises aux niveaux méso et micro. Ces perspectives en sociologie et en gestion postulent une relation positive entre la protection environnementale et le développement économique. Pour évaluer la pertinence de ces perspectives, notre analyse se concentre sur l'identification des facteurs qui influencent les actions en réseaux d'acteurs et d'institutions, ainsi que sur le lien entre la réglementation et l'innovation. En utilisant les méthodes mixtes (observation participante, sondage et entrevue), nous avons collecté, lors de l'enquête de terrain (2013-2014) dans le delta de la Rivière des Perles, des données en provenance de plus d'une centaine d'entreprises dans quinze secteurs industriels. Quatre résultats clés se dégagent de cette étude. D'abord, 88% des entreprises interrogées ont pris des mesures. Notre typologie d'entreprise montre que les « traînards » résistent à l'action et que les « suiveurs » changent à contrecœur leur comportement. Les « adeptes » adoptent des technologies propres éprouvées; tandis que les « éco-innovateurs » créent de nouveaux produits. En outre, les réglementations strictes, les préoccupations financières et la concurrence sont les déterminants de l'action. Les firmes assujetties aux lois sévères ont tendance à se conformer. Celles qui desservent des marchés concurrentiels sont susceptibles d'innover. De plus, les réglementations strictes sur l'innovation produisent des résultats mitigés. Ces réglementations semblent nécessaires, mais elles sont insuffisantes pour déclencher l'éco-innovation. La relation entre le gain économique et environnemental est dynamique et dépend du type de mesures environnementales, des caractéristiques d'entreprise et des facteurs contextuels. Enfin, les affirmations de la MÉ sont partiellement confirmées par nos résultats. Ces derniers révèlent l'implantation répandue des instruments de marché, laquelle indique l'émergence de l'« économisation » de l'écologie. Contrairement aux études antérieures, la nôtre montre que les acteurs économiques contribuent à « écologiser » l'économie. L'État partage les responsabilités environnementales avec ces acteurs tout en exerçant son pouvoir cohésif. Pour faire avancer la recherche, nous proposons de conceptualiser un modèle hybride et d'incorporer la théorie de l'acteur-réseau dans un cadre élargi.The research aims to discover why and how Chinese industrial firms in the world's workshop are responding to environmental issues. We elaborate an interdisciplinary approach by integrating ecological modernization theory (EMT) and the Porter hypothesis. These sociological and strategic management perspectives postulate that economic growth can be associated with environmental protection. The perspectives complement one another through combining micro-level and meso-level analysis of corporate environmental actions. To assess the validity of the Porter hypothesis and the explanatory power of EMT, attention is given to identifying factors affecting actions and to analyzing the regulation-innovation nexus and institutional networks. Using mixed-methods research techniques (participant observation, survey, and interview), we conducted our 2013/14 fieldwork by accessing a sample group of over 100 firms from 15 industry sectors located in the Pearl River Delta region. Four major findings emerge from our analysis. First, 88% of the surveyed companies took environmental actions. A typology of the enterprises illustrates that "laggards" displayed resistance and "takers" took action reluctantly. "Followers" were inclined to adopt proven clean technologies, whereas "eco-innovators" created new products. Secondly, stricter environmental regulations, financial interests, and competition are key factors for driving corporate actions. The sampled firms subjected to stricter requirements tended to be compliant and achieved environmental goals, and companies serving competitive markets were most likely to be industry leaders engaging in eco-innovations. Our third finding reveals mixed results in the effects of stricter regulations on eco-innovation and on the financial outcome of environmental improvements. Stricter regulations appear necessary, but they are insufficient for triggering eco-innovation. The relation between economic gain and environmental benefit is dynamic, depending on the type of environmental actions, firm characteristics, and contextual factors. Finally, the claims made by EMT are partially supported by our fourth finding, wherein wide application of market-based instruments suggests the emergence of the "economization" of ecology. Contradictory to prior research, our study shows that economic actors contribute to "ecologizing" the economy. The state shared environmental responsibilities with non-state actors, while exercising its coercive power. For future research, we propose conceptualizing a hybrid model and incorporating actor network theory into a broader framework

Non-adherence of MNOCs to corporate obligations: a review of litigation from the Niger Delta.

Multinational oil companies (MNOCs) claim that they have several corporate obligations to protect human rights and the environment in which they operate, and to resolve with local communities any disputes arising from their operations in the shortest possible time. However, the combative approach by MNOCs in recent transnational human rights and environmental litigations from the Niger Delta undermines these obligations, because they continually deny, delay and derail justice for the local communities. The central question is whether there is a conflict between the portrayal of these companies' positions before the courts and the portrayal of their positions in their corporate obligations (e.g. sustainability reports, securities filings, court filings, etc.), in terms of their approach toward the local communities in which they operate. This thesis investigates how MNOCs derail human rights and environmental litigations from the Niger Delta. Previous work pays little or no attention to how litigations are affected by the non-adherence of MNOC's to their corporate obligations regarding human rights and the environment. Legal frameworks to address derailments in litigations are merely suggested at the international levels and lack adequate legal instruments (e.g. constitutional, legislative and regulatory) at the national levels. This thesis adopts a combination of doctrinal research and comparative analysis methodology to address the derailments in litigations arising from the Niger Delta. Firstly, we review seven transnational human rights and environmental litigations from the Niger Delta to evaluate how the non-adherence of MNOCs to their corporate obligations affects litigations. Secondly, we investigate the mechanisms used by MNOC to derail human rights and environmental litigations. Thirdly, we develop a legal framework and recommendations for addressing derailments in litigations in the Niger Delta. This research suggests that an appropriate level of engagement with stakeholders during litigations will improve human rights and environmental protection in partnerships with local governments, NGOs and local communities

Hazardous Waste: Liability of Predecessors in Title

The United States has a long history of improperly disposed toxic waste. Over the years, some enterprises that contaminated their real property through commercial activities transferred the property without abating the problem. Consequently, many subsequent purchasers unknowingly acquired contaminated property. This Comment argues that the state and federal environmental legislation is inadequate to fully compensate landowners who suffer losses as a result of toxic waste left behind by a predecessor in title. The author explores the viability of the common law doctrine of hazardous activity strict liability as a cause of action available to a landowner against a predecessor in interest

Climate Prosperity: A Greenprint For Southwest Florida

Southwest Florida has been chosen as one of the 8 pilot regions for the Climate Prosperity project.  One of the main goals in Southwest Florida is to create and attract jobs to help energize the Southwest Florida economy now as well as future generations.  Climate change has edged its way to the top of federal, state, and local agendas. Scientists and leaders across the nation are taking numerous steps to prepare for the positive and negative consequences of a new weather era so that ecosystems, human life, and infrastructure can adapt and survive

Gaining Depth: State of Watershed Investment 2014

Last year, governments, businesses, and donors channeled $12.3 billion (B) toward nature-based solutions to the global water crisis. Water users and public funders were paying land managers to repair and protect forests, wetlands, and other natural systems as a flexible, costeffective strategy to ensure clean and reliable water supplies, resilience to natural disasters, and sustainable livelihoods. These deals paid for watershed protection and restoration across more than 365 million (M) hectares (ha) worldwide in 2013, an area larger than India.The value of investment in watershed services1 (IWS) - referring to funding for watershed restoration or protection that delivers benefits to society like aquifer recharge or erosion control - has been growing at anaverage rate of 12% per year. The number of operational programs grew by two thirds between 2011 and 2013, expanding in both scale and sophistication as program developers introduced new tools to track returns on watershed investment, coordinated efforts across political boundaries, and delivered additional benefits like sustainable livelihoods and biodiversity protection