Rediscovering the Law of Negligence offers a systematic and theoretical exploration of the law of negligence. Its aim is to re-establish the notion that thinking about the law ought to and can proceed on the basis of principle. As such, it is opposed to the prevalent modern view that the various aspects of the law are and must be based on individual policy decisions and that the task of the judge or commentator is to shape the law in terms of the relevant policies as she sees them. The book, then, is an attempt to re-establish the law of negligence as a body of law rather than as a branch of politics. The book argues that the law of negligence is best understood in terms of a relatively small set of principles enunciated in a small number of leading cases. It further argues that these principles are themselves best seen in terms of an aspect of morality called corrective justice which, when applied to the most important aspects of the law of negligence reveals that the law - even as it now exists - possesses a far greater degree of conceptual unity than is commonly thought. Using this method the author is able to examine familiar aspects of the law of negligence such as the standard of care; the duty of care; remoteness; misfeasance; economic loss; negligent misrepresentation; the liability of public bodies; wrongful conception; nervous shock; the defences of contributory negligence, voluntary assumption of risk, and illegality; causation; and issues concerning proof, to show that when the principles are applied and the idea of corrective justice is properly understood then the law appears both systematic and conceptually satisfactory. The upshot is a rediscovery of the law of negligence.

In The Political Uncommons, Kathryn Milun presents a cultural history of the global commons: those domains, including the atmosphere, the oceans, the radio frequency spectrum, the earth's biodiversity, and its outer space, designated by international law as belonging to no single individual or nation state but rather to all humankind. From the res communis of Roman property law to early modern laws establishing the freedom of the seas, from the legal battles over the neutrality of the internet to the heritage of the earth's genetic diversity, Milun connects ancient, modern, and postmodern legal traditions of global commons. Arguing that the logic of legal institutions governing global commons is connected to the logic of colonial doctrines that dispossessed indigenous peoples of their land, she demonstrates that the failure of international law to adequately govern the earth's atmosphere and waters can be more deeply understood as a cultural logic that has successfully dispossessed humankind of basic subsistence rights. The promise of global commons, Milun shows, has always been related to subsistence rights and an earth that human communities have long imagined as 'common' existing alongside private and public domains. Utilizing specific case studies, The Political Uncommons opens a way to consider how global commons regimes might benefit from the cross-cultural logics found where indigenous peoples have gained recognition of their common tenure systems in Western courts.

The new edition of Environmental Law provides a comprehensive account of this topical and complex area of law, bringing within one volume the full range of law and legislation in the field.
Written by a group of practicing attorneys, all with specialist experience of environmental law, it aims to cover all aspects of the area including the practice and jurisprudence of the tribunals which administer it in England and Wales, and Northern Ireland.
This title contains detailed coverage of the substantive environmental law areas such as pollution of all kinds, the control and management of waste and hazardous substances, contaminated land issues, and conservation. The book also examines thoroughly the regulation, enforcement of environmental law, and analyses the international and European context and its implications for the UK.
The new edition of this title brings the book up to date with recent legislation such as the Clean Neighborhoods and Environment Act 2005 and considers the impact of the Planning and Compulsory Purchase Act 2004. As central government policy documents have increasingly concentrated on the control of pollution in the planning process, this title analyzes development of planning and social sustainability policies as put forward in the White Paper of May 2007 and the forthcoming Planning Bill.
This book combines valuable analysis with practical guidance on the full range of topics facing the environmental lawyer.

In the 21st century, environmental harm is an ever-present reality of our globalised world. Over the last 20 years, criminologists, working alongside a range of other disciplines from the social and physical sciences, have made great strides in their understanding of how different institutions in society, and criminal justice systems in particular - respond - or fail to respond - to the harm imposed on ecosystems and their human and non-human components. Such research has crystallised into the rapidly evolving field of green criminology. This pioneering volume, with contributions from leading experts along with younger scholars, represents the state of the art in criminologists' pursuit of understanding in the environmental sphere while at the same time challenging academics, lawmakers and policy developers to explore new directions in the study of environmental harm.

This book explains the EU's climate policies in an accessible way, to demonstrate the step-by-step approach that has been used to develop these policies, and the ways in which they have been tested and further improved in the light of experience. The latest changes to the legislation are fully explained throughout. The chapters throughout this volume show that no single policy instrument can bring down greenhouse gas emissions. The challenge facing the EU, as for many countries that have made pledges under the Paris Agreement, is to put together a toolbox of policy instruments that is coherent, delivers emissions reductions, and is cost-effective. The book stands out by the fact it covers the EU's emissions trading system, the energy sector and other economic sectors, including their development in the context of international climate policy. This accessible book will be of great relevance to students, scholars and policy makers alike. The Open Access version of this book, available at http://www.taylorfrancis.com/books/e/9789276082569, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

In December 2015, 196 parties to the United Nations Framework Convention on Climate Change (UNFCCC) adopted the Paris Agreement, seen as a decisive landmark for global action to stop human- induced climate change. The Paris Agreement will replace the 1997 Kyoto Protocol which expires in 2020, and it creates legally binding obligations on the parties, based on their own bottom-up voluntary commitments to implement Nationally Determined Contributions (NDCs). The codification of the climate change regime has advanced well, but the implementation of it remains uncertain. This book focuses on the implementation prospects of the Agreement, which is a challenge for all and will require a fully comprehensive burden- sharing framework. Parties need to meet their own NDCs, but also to finance and transfer technology to others who do not have enough. How equity- based and facilitative the process will be, is of crucial importance. The volume examines a broad range of issues including the lessons that can be learnt from the implementation of previous environmental legal regimes, climate policies at national and sub-national levels and whether the implementation mechanisms in the Paris Agreement are likely to be sufficient. Written by leading experts and practitioners, the book diagnoses the gaps and lays the ground for future exploration of implementation options. This collection will be of interest to policy-makers, academics, practitioners, students and researchers focusing on climate change governance.

This book examines the global, local, and specific environmental factors that facilitate illegal fishing and proposes effective ways to reduce the opportunities and incentives that threaten the existence of the world's fish. Humans are deeply dependent on fishing-globally, fish comprise 15 percent of the protein intake for approximately 3 billion people, and 8 percent of the global population depends on the fishing industry as their livelihood. The global fishing industry is plagued by illegal fishing, however, and many highly commercial species, such as cod, tuna, orange roughy, and swordfish, are extremely vulnerable. Through criminological analysis, The Last Fish Swimming emphasizes the importance of looking at specific environmental factors that make illegal fishing possible. It examines such factors as proximity to known ports where illegally caught fish can be landed without inspection (i.e., ports of convenience), fisheries monitoring, control and surveillance efforts, formal surveillance, and resource attractiveness in 53 countries that altogether represent 96 percent of the world's fish catch. The book calls upon the global community to address the illegal depletion of the world's fish stock and other similar threats to the world's food supply and natural environment in order to ensure the sustainability of the planet's fish and continuation of the legal fishing industry for generations to come. Provides a criminological analysis of illegal fishing through the application of two important environmental criminology perspectives (rational choice and situational crime prevention) Highlights the countries most at risk, i.e. hot spots of illegal fishing, and the ports most frequently used to land illegally caught fish Discusses environmental factors that increase or reduce the risk of illegal fishing Includes summary tables on the most vulnerable species and on global, regional, and local factors contributing to illegal fishing Provides a toolbox of empirically founded policy recommendations on how illegal fishing can be stopped

Wetlands are a vital natural resource and an integral part of the ecosystem. Yet they are also fraught with contention. Landowners, developers, ecologists, policymakers, and the courts must all navigate a complex landscape that requires knowledge not only of the relevant science of wetlands, but also the relevant policies, procedures, and legal precedents. In Wetlands: An Introduction Theda Braddock and Diane Hennessey guide the reader through this complex maze, presenting the most important information in an accessible way. The book opens with a brand new chapter on wetland jurisdiction and its history in the U.S., before explaining the basic science of wetlands-what they are, how they fit into the complex natural scheme, and the particular function and value of wetlands themselves. Fully updated chapters on wetland classification and the controversial issue of delineation round out the first half of the book. The second half explores the topics of permitting, enforcement, and litigation in detail, offering necessary information and practical guidance for all parties involved in wetlands disputes. This new edition has been extensively revised and updated, and presents the most up-to-date and important information on wetlands and their regulation. This new edition has been extensively revised and includes: *A brand new chapter on jurisdiction *Completely rewritten chapters on wetlands science *Extensive updates within all chapters. *Updated Table of Cases *Updated Bibliography Special features includes: *Comprehensive and up-to-date table of relevant legal cases *Extensive bibliography of sources for further reading *Easy-to-read flowcharts explaining wetland delineation concepts

Densification has been a central method of achieving smart, sustainable cities across the world. This book explores international examples of the property rights tensions involved in attempting to develop denser, more sustainable cities through compulsory acquisition of property. The case studies from Europe, North America, eastern Asia and Australia show how well, or not, property rights have been recognised in each country. Chapters explore the significance of local legal frameworks and institutions in accommodating property rights in the densification process. In particular, the case studies address the following issues and more: Whether compulsory acquisition to increase densification is justified in practice and in theory The specific public benefits given for compulsory acquisition The role the development industry plays in facilitating, encouraging or promoting compulsory acquisition What compensation or offsets are offered for acquisition, and how are they funded? Is there a local or national history of compulsory property acquisition by government for a range of purposes? Is compulsory acquisition restricted to certain types or locations of densification? Where existing housing is acquired, are there obligations to provide alternative housing arrangements? The central aim of the book is to summarize international experiences of the extent to which property rights have or have not been protected in the use of compulsory property acquisition to achieve sustainable cities via urban densification. It is essential reading for all those interested in planning law, property rights, environmental law, urban studies, sustainable urban development and land use policy.

This work discusses the rapidly developing European transport policy on sustainable freight and the connected efforts initiated by the European Commission (EC) on greening transport by the means of contract law. Greening transport has been a central goal for the EU for decades. The main problem has been, and still is, that far too much carriage of goods within the EU is performed unimodally: by road carriage alone. This has caused severe problems particularly in central Europe, where both trade and environment is suffering from an ineffective transport industry with growing problems of congestion and pollution. A modal shift in transport from mainly road based to a form of transport in which more environmental friendly modes such as rail, inland waterways and sea born transport are integrated into one transport chain, is hence an objective of the EU. If successful, this model could then be extended to the international transport community. The key question raised in this book is whether the traditional role of contract law is changing to such an extent that the parties involved must take external interests into account. In the case of the EU's efforts to enhance sustainable carriage of goods within its realm, the author explores whether governmental interference is necessary, or if we can trust that the parties will integrate environmental issues into their contracts because there is a demand for such clauses. The different proposals for an EU regime on multimodal contracts of carriage are discussed in this context. This book will be of great relevance to academics and practitioners with an interest in EU law, transport law, environmental law and maritime law in general.

China in recent years has embarked on an extraordinary turnaround, dispensing with revolutionary rhetoric in favor of a more pragmatic approach to contemporary problems. Two areas where this change has been most visible are environmental affairs and law. "Environmental Law and Policy in the People's Republic of China" is the first book-length treatment of the increasingly important connection between these two areas in China. It assembles in one place the major articles and documents on environmental law and policy, together with an introduction, commentaries, and bibliography. Of special importance are items in judicial practice which cover several major cases involving pollution, as well as a discussion of the various alternatives in resolving environmental disputes.

Environmental justice research and activism predominantly focus on openly conflictive situations; claims making is central. However, situations of injustice can still occur even if there is no overt conflict. Environmental Justice and Soy Agribusiness fills this gap by applying an environmental justice incommensurabilities framework to reveal the mechanisms of why conflicts do not arise in particular situations, even though they fall within classic environmental justice schemes. Empirically, the case study focus is on the remote soy frontier in Northwest Argentina, particularly the town of Las Lajitas as the nucleus of soy production. This represents an excellent example of the recent expansion of the soy agribusiness industry in Latin America. First, a classic environmental justice analysis is carried out. Second, and drawing on the epistemological works of Ludwik Fleck, an alternative analytical framework is proposed, visualising locals' thought styles on change, effects and potential conflict in relation to soy agribusiness. Here, visceral elements and the application of a jazz methodology are vital for a more holistic form of multisensory cognition. Third, incommensurabilities among the classic and alternative approach are uncovered, arguing for the importance of temporal and spatial contexts in environmental justice research.

The Natura 2000 network of protected areas is the centrepiece of European Union nature policy, currently covering almost one-fifth of the EU's entire land territory plus large marine areas. This vast EU-wide network, which aims to conserve Europe's most valuable and threatened species and habitats, has major impacts on land use throughout all Member States of the EU. This book critically assesses the origins and implementation of the Natura 2000 network, established under the Birds Directive of 1979 and the Habitats Directive of 1992. Based on original archival research and interviews with key participants, the book records a detailed history of the origins and negotiation of Natura 2000 policy and law, with the history of EU environmental policy provided as a framework. An historical institutionalist approach is adopted, which emphasises the importance of understanding legal and policy development as processes that unfold over time. Three phases in the history of EU environmental policy are identified and described, and the history of EU nature policy is placed within the context of these three phases. Informed by this history, the author presents a comprehensive summary and assessment of the law and policy that protects Natura 2000 sites at EU level, and reviews the nature conservation outcomes for the targeted species and habitats. The book reveals how a knowledge of the history of Natura 2000 enriches our understanding of key issues such as conflicts in establishing and conserving the Natura 2000 network, EU integration in the field of nature conservation, and the future of EU nature policy.

The Paris Framework for Climate Change Capacity Building pioneers a new era of climate change governance, performing the foundational job of clarifying what is meant by the often ad-hoc, one-off, uncoordinated, ineffective and unsustainable practices of the past decade described as 'capacity building' to address climate change. As an alternative, this book presents a framework on how to build effective and sustainable capacity systems to meaningfully tackle this long-term problem. Such a reframing of capacity building itself requires means of implementation. The authors combine their decades-long experiences in climate negotiations, developing climate solutions, climate activism and peer-reviewed research to chart a realistic roadmap for the implementation of this alternative framework for capacity building. As a result, this book convincingly makes the case that universities, as the highest and sustainable seats of learning and research in the developing countries, should be the central hub of capacity building there. This will be a valuable resource for students, researchers and policy-makers in the areas of climate change and environmental studies.

'Professor Sakmar's book is a must read for anyone interested in gaining a better understanding of the most dynamic segment of the global energy industry.' - Jay Copan, Executive Director, LNG 17With clear and direct text, supplemented with key maps, charts and graphics from government, industry and other sources, the book moves the reader smoothly through the early history of LNG up to current developments, including shale gas and North American LNG exports. The book is a valuable resource for anyone interested in understanding global gas markets and the energy policy challenges facing us in the 21st century.' - Jacqueline L. Weaver, A.A. White Professor of Law, University of Houston Law Center, US Countries around the world are increasingly looking to liquefied natural gas (LNG) - natural gas that has been cooled until it forms a transportable liquid - to meet growing energy demand. Energy for the 21st Century provides critical insights into the opportunities and challenges LNG faces, including its potential role in a carbon-constrained world. This comprehensive study covers topics such as the LNG value chain, the historical background and evolution of global LNG markets, trading and contracts, and an analysis of the various legal, policy, safety and environmental issues pertaining to this important fuel. Additionally, the author discusses emerging issues and technologies that may impact global LNG markets, such as the development of shale gas, the prospects of North American LNG exports, the potential role of the Gas Exporting Countries Forum and floating LNG. The author contextualizes the discussion about the importance of LNG with an analysis of why the 21st century will be the 'golden age' of natural gas. Accessible and non-technical in nature, this timely book will serve as an essential reference for practitioners, scholars and anyone else interested in 21st century energy solutions. Contents: Preface Introduction 1. The Role of Natural Gas and LNG in the 21st Century 2. The LNG Value Chain 3. The Evolution of LNG Markets and Primary Demand Regions 4. Global LNG Supply 5. Global LNG Demand and Emerging Demand Markets 6. The Globalization of LNG: The Evolution of LNG Trade, Pricing and Contracts 7. Safety and Environmental Sustainability of LNG 8. Global LNG Mega Projects and Players Qatar and Australia 9. New Players and Projects Russia, Peru, Yemen, and Papua New Guinea 10. The Role of Shale Gas in the Golden Age of Gas 11. The Impact of Shale Gas on Global Gas Markets and the Prospects for US and Canadian LNG Exports 12. Emerging Issues in the LNG Industry Conclusion: The Future Looks Bright for LNG as a Fuel for the 21st Century Index

This book examines the conditions under which PPM measures may be adopted under WTO law de lege lata and de lege ferenda. It analyses in detail the complex case law in this field and its evolution in the last 25 years, as well as the many doctrinal debates around PPM measures and their relevance in the light of the evolution of case law, both under the GATT and the TBT Agreement. Further, it also suggests an original approach to the interpretation of the relevant provisions of the GATT and the TBT Agreement in the context of PPM measures. The PPM issue has been one of the most debated topics in the trade and environment debate. Even though the US-Shrimp case showed that PPM measures are not prohibited per se under the GATT, many questions remain unanswered when it comes to the precise conditions under which environmental PPM measures are justifiable under WTO law, for example in the field of trade measures relating to climate change mitigation efforts, natural resources management policies and biodiversity conservation measures.

The Elgar Encyclopedia of Environmental Law is a landmark reference work, providing definitive and comprehensive coverage of this dynamic field. Each volume probes the key elements of law, the essential concepts, and the latest research through concise, structured entries written by international experts. Each entry includes an extensive bibliography as a starting point for further reading. The mix of authoritative commentary and insightful discussion will make this an essential tool for research and teaching, as well as a valuable resource for professionals and policymakers.Climate Change Law, the first volume of the Elgar Encyclopedia of Environmental Law, provides a guide to the rapidly evolving body of legal scholarship relating to climate change. The amount of international, European and national legislation, judicial decisions, and legal scholarship in the field of climate law has now become almost overwhelming. This book focuses on the underlying concepts that are of concern to researchers, students and policymakers rather than on the details of national legislation. The core topics include the difficulty of setting up a coherent international treaty approach, the importance of national and subnational legal action, the potential role of international and national courts, and the importance of human rights and environmental justice. Providing a comprehensive discussion, more than 50 entries developed by experts from across the world cover mitigation and adaptation issues in their wider context, from both international and national perspectives. Each chapter concludes by identifying important research challenges. Finally, the concluding chapter argues that a discernible global legal regime is emerging. The 2015 Paris Agreement marks both the increasingly interlinked but polycentric nature of this new regime. This is the definitive resource for all those seeking the state of the art of climate change law, from students and legal scholars to practising lawyers, civil servants and NGOs. Contributors include: D. Badrinarayana, D. Benson, W.W. Buzbee, M.R. Caldwell, A.E. Camacho, H.S. Cho, R.K. Craig, B. Curtis, J. Dafoe, P. DeArmey, J. de Cendra de Larragan, J.C. Dernbach, N. de Sadeleer, M. Doelle, W.T. Douma, D.M. Driesen, B. Egelund Olsen, K.H. Engel, D.A. Farber, Heline Sivini Ferreira, S. Ferrey, S.R. Foster, D. French, P. Galizzi, M.B. Gerrard, N.S. Ghaleigh, M. Hall, S.B. Hecht, D. Hodas, T. Honkonen, S.-L. Hsu, A. Jordan, A. Kaswan, A. Keessen, S.-H. Kim, S. Krakoff, K. Kulovesi, M.A. Livermore, K. Lu, J. Lueders, R. Lyster, M.L. Melius, Z. Meng, H.M. Osofsky, J. Peel, M. Peeters, B. Pontin, L. Rajamani, A.W. Reitze Jr, J. Reynolds, B.J. Richardson, F. Romanin Jacur, T.Schomerus, J. Scott, D.A. Serraglio, F. Sindico, M.P. Solis, B.K. Sovacool, P.-T.Stoll, L.G. Sun, T. Tang, A.D. Tarlock, Q. Tianbao, X.F. Torrijo, H. van Asselt, M. van Rijswick, M.P. Vandenbergh, R.R.M. Verchick, C. Voigt, X. Wang, M. Wilensky, K.M. Wyman, Y. Zhang

Do anthropogenic greenhouse gas emissions affect human rights? Should fundamental rights constrain climate policies? Scientific evidence demonstrates that anthropogenic greenhouse gas emissions contribute to increasing atmospheric temperatures, soon passing the compromising threshold of 2 Degrees C. Consequences such as Typhoon Haiyan prove that climate alteration has the potential to significantly impair basic human needs. Although the United Nations Framework Convention on Climate Change and human rights regulatory regimes have so far proceeded separately, awareness is arising about their reciprocal implications. Based on tripartite fundamental obligations, this volume explores the relationship between climate change and interdependent human rights, through the lens of an international and comparative perspective. Along the lines of the metaphor of the 'wall', the research ultimately investigates the possibility of overcoming the divide between universal rights and climate change, and underlying barriers. This book aims to be a useful resource not only for practitioners, policymakers, academics, and students in international, comparative, environmental law and politics and human rights, but also for the wider public.

The history of human rights suggests that individuals should be empowered in their natural, political, political, social and economic vulnerabilities. States within the international arena hold each other responsible for doing just that and support or interfere where necessary. States are to protect these essential human vulnerabilities, even when this is not a matter of self-interest. This function of human rights is recognized in contexts of intervention, genocide, humanitarian aid and development. This book develops the idea of environmental obligations as long-term responsibilities in the context of human rights. It proposes that human rights require recognition that, in the face of unsustainable conduct, future human persons are exposed and vulnerable. It explores the obstacles for long-term responsibilities that human rights law provides at the level of international and national law and challenges the question of whether lifestyle restrictions are enforceable in view of liberties and levels of wellbeing typically seen as protected by human rights. The book will be of interest to postgraduates studying Human Rights, Sustainability, Law and Philosophy.

Since the very beginning of European integration, electricity has been within the legal sphere of the EU. Much of this is found within the binding European acts making up the framework of the Energy Packages. The established legal institutions have had a significant impact on the shape of the energy market in Europe. Nevertheless, the European energy market still seems to be developing, as demonstrated by the current lively discussion about the state of the Energy Union. Regulation in the European Electricity Sector delves into European energy law and reflects on some of the primary issues related to the public legal impact on the European energy sector. The book offers a brief explanation of the background operation of the electricity sector, as well as liberalisation within the area, and traces the evolution of the EU's approach towards the issue of public law regulation within the electricity sector. Finally, the book presents an analysis of European and national laws, considering their interpretation, and explores the future of public law regulation. Aimed at giving the reader a deep insight into a nature of the state's presence in the power sector, this book will be of great interest to students and scholars of EU energy law and policy.

This book explores the process of shipbreaking in developing countries, with a particular focus on Bangladesh. In the past, shipbreaking (the disposal of obsolete ships) was a very common industrial activity in many developed countries. However, due to stringent domestic environmental and labour laws it is almost impossible for the increasing number of vessels to be disposed of domestically, and now developing nations including Bangladesh, China, India, Turkey and Pakistan regularly participate in this activity. The shipbreaking yards in these countries are not only detrimental to the marine and coastal environment but also represent significant health hazards to local people and workers. Given the global importance of the issue, an effective legal and institutional framework for a sustainable operation of the shipbreaking industry is desperately needed. Sitting at the intersection of three distinct fields - environmental justice, international environmental law and international maritime law - this book offers an innovative take on the issues surrounding the shipbreaking process. Drawing on the case study of Bangladesh due to its prominence in the shipbreaking industry, the author implements an environmental justice framework to examine the issues of sustainability surrounding shipbreaking, and analyses the relationship between social development, economic development and environmental protection. Maritime perspectives of environmental justice will also be highlighted through a discussion of the International Maritime Organization's role in the implementation of the Hong Kong Convention in developing countries. This book will be of great interest to scholars of environmental justice, international maritime law and international environmental law.

The world's freshwater supplies are increasingly threatened by rapidly increasing demand and the impacts of global climate change, but current approaches to transboundary water management are unsustainable and may threaten future global stability and international security. The absence of law in attempts to address this issue highlights the necessity for further understanding from the legal perspective.

Demonstrating the shortcomings of current policy and legal approaches to access and benefit-sharing (ABS) in the Convention on Biological Diversity (CBD), this book recognizes that genetic resources are widely distributed across countries and that bilateral contracts undermine fairness and equity. The book offers a practical and feasible regulatory alternative to ensure the goal of fairness and equity is effectively and efficiently met. Through a legal analysis that also incorporates historic, economic and sociological perspectives, the book argues that genetic resources are not tangible resources but information. It shows that the existing preference for bilateralism and contracts reflects resistance on the part of many of the stakeholders involved in the CBD process to recognize them as such. ABS issues respond very well to the economics of information, yet as the author explains, these have been either sidelined or overlooked. At a time when the Nagoya Protocol on ABS has renewed interest in feasible policy options, the author provides a constructive and provocative critique. The institutional, policy and regulatory framework constitute "bounded openness" under which fairness and equity emerge.

Water scarcity is an increasing problem in many parts of the world, yet conventional supply-side economics and management are insufficient to deal with it. In this book the role of water trading as an instrument of integrated water resources management is explored in depth. It is also shown to be an instrument for conflict resolution, where it may be necessary to reallocate water in the context of increasing scarcity. Recent experiences of implementation in different river basins have shown their potential as instruments for improving allocation. These experiences, however, also show that there are implementation challenges and some limitations to trading that need to be considered. This book explores the various types of water trading formulas through the experience of using them in different parts of the world. The final result is varied because, in most cases, trading is conditioned by the legal and institutional framework in which the transactions are carried out. The role of government and the definition of water rights and licenses are critical for the success of water trading. The book studies the institutional framework and how transactions have been undertaken, drawing some lessons on how trading can improve. It also analyses whether trading has really been a positive instrument to manage scarcity and improve water ecosystems and pollution emission problems in those parts of the world which are most affected. The book concludes by making policy proposals to improve the implementation of water trading.