Natural capital risk management: regulating the main externalities of business

Martin, Rhett (2015) Natural capital risk management: regulating the main externalities of business. Environmental and Planning Law Journal, 32 (6). pp. 505-533. ISSN 0813-300X


Natural capital is being used at an unsustainable rate, yet the regulatory response is ad hoc, piecemeal and insufficient to address the scale of the problem. A starting point to respond to this global emergency is to place a value on natural capital, since that will help gauge the extent of the risk and allow for a measured policy response. Knowing where the greatest natural capital risk is located allows for prioritised natural capital risk management that can be addressed at both the government and corporate level. This article evaluates key estimates of natural capital risk and then considers how that risk should be managed by government and corporate entities. It considers a process for internalisation of natural capital cost in the production process, the development of collaborative networks to address natural capital risk, and how natural capital risk management can be incorporated into corporations' governance structures, with key recommendations for future action across all spectrums impacting natural capital in our society.

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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Restricted access to published version in accordance with the copyright policy of the publisher.
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Law and Justice
Date Deposited: 10 Jul 2018 01:05
Last Modified: 24 Sep 2018 22:25
Fields of Research : 18 Law and Legal Studies > 1801 Law > 180111 Environmental and Natural Resources Law
Socio-Economic Objective: D Environment > 96 Environment > 9606 Environmental and Natural Resource Evaluation > 960609 Sustainability Indicators

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