Markets - Introducing Markets - Reading: Jordan, Wurzel & Rito (2010): 'New' Instruments of Environmental Governance: Patterns and Pathways of Change
11 important questions on Markets - Introducing Markets - Reading: Jordan, Wurzel & Rito (2010): 'New' Instruments of Environmental Governance: Patterns and Pathways of Change
Name four distinctions of policy instruments.
- Regulatory instruments (command-and-control)
- Market-based instruments
- Voluntary agreements
- Informational devices
Name 4 main types of market-based instruments (MBIs)
- Taxes (including charges and levies)
- Subsidies
- Tradable emission permits
- Deposit-refund schemes
Definition market-based instruments (MBIs).
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Synonyms of voluntary agreements
- Codes of conduct
- Covenants
- Negotiated agreements
Voluntary agreements: definition, author, and year.
- Covering only those commitments undertaken by firms and sector associations, which are the result of negotiations with public authorities and/or explicitly recognized by the authorities (EEA, 1997)
- Agreements between industry and public authorities on the achievement of environmental objectives (CEC, 1996)
- Voluntary commitments of the industry undertaken in order to pursue actions leading to the improvement of the environment (OECD, 1998)
Name the 3 different sup-types of voluntary agreements (VAs), provided by Börkey and Lévèque (1998).
- Unilateral commitments: environmental improvement programs instigated by individual companies or by industry associations.
- Public voluntary schemes (PVS): established by public bodies, which define certain performance criteria and other conditions of membership.
- Negotiated agreements: contracts between industry and public authorities aimed at addressing particular environmental problems (can be legally binding).
Eco-labels are not very intrusive policy instruments in comparison to regulation and also some MBIs). Why?
In which markets are eco-labels large ineffective (in terms of changing producer behavior)?
Why are NEPIs being adopted? Name some of the most important external drivers.
- Dissatisfaction with regulation
- The perceived strengths of NEPIs
- The governance 'turn': fitted with the idea that the state should not interfere in every facet of social and economic life
- Instrument changes in the EU: political pressure from the industry to simplify legislation and make it economically less burdensome, NEPIs promoted 'shared responsibility'
- Economic pressure: economic recession in the 1990s made economic actors argue against environmental regulation that imposed more costs and inflexibility from their perspective
- Growing domestic political support: environmental groups and parties have become much more supportive of NEPS
What are some of the perceived strengths of NEPIs?
- They encourage industry to adopt a more proactive attitude to environmental protection
- They are more cost effective than regulation
- They allow a quicker and smoother achievement of policy goals
- They internalize externalities
- They make the polluter pay
- They provide a constant spur to innovate with new technologies
What are some obstacles to the adoption of NEPIs? Barriers to change.
- The lack of economic expertise within national administrations
- A cultural antipathy among bureaucrats, many of whom have a long training in the use of regulation
- Opposition from vested interests, including environmental pressure groups, but also sections of industry
- Legal constraints imposed by the EU
- Fears about competitiveness and the economic burden
- The potentially adverse distributional impacts
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