Research Handbook on Fundamental Concepts of Environmental Law
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Research Handbook on Fundamental Concepts of Environmental Law

Edited by Douglas Fisher

The quality and the strength of an environmental legal system is a reflection of the conceptual foundations upon which it is constructed. The Research Handbook on Fundamental Concepts of Environmental Law illuminates key aspects of environmental governance through the lens of their underlying dimensions: for example, the form, structure and language of international, regional and national instruments; the function of norms, objectives and standards; and the relevance of economic analysis and of integrated policy formulation.
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Chapter 5: Economic approaches to environmental governance: a principled analysis

Michael Faure

Abstract

In this chapter the economic approach to environmental governance generally and to environmental law in particular is explained. Attention is paid to the goal of environmental policy from an economic perspective, but also to the economic meaning of environmental principles. The question is equally addressed whether there is a convergence or a divergence between the economic and the legal way in which environmental law is approached. Specific attention is devoted to environmental liability, to economic instruments and to optimal enforcement mechanisms.

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