This book examines the calculation and evaluation of regulatory costs by regulators in accordance with a legislative mandate. A serious limitation in that enterprise, the possibility of technological change and innovation, often compromises those efforts and has long been under-appreciated in standard 'cost-benefit analysis.' Regulators who study the inducement of innovation and the avoidance of regulatory costs by the regulated often find significant cost-saving opportunities, leading to more stringent and more effective risk governance. Ultimately, the weighing of costs in this more elaborate model is more than simple welfare maximization. It views regulatory costs as important to society for a range of reasons, some grounded in fairness and some in deliberative process values, as a society seeks to minimize all costs over time. This analysis places the weighing of regulatory costs in context by comparing cost calculation methods and evaluative tools in three illuminating case studies. It assesses cost-factoring methods under different normative frameworks and highlights the role of technological innovation in cost minimization over time while considering regulatory costs that result from multiple regulatory tool choices. A single regulatory cost investigation is tracked from agency to legislative back to agency choice, outlining the steps to consensus-oriented cost factoring methods. Academic and professional lawyers in fields like environmental protection, food and drug safety, and workplace safety will find this an invaluable resource, as will researchers in disciplines dealing with judicial choice from economic or political theoretical frameworks and regulatory agencies charged with regulating risks.

This book expands on law-related research by examining the legal aspects of sustainability with a focus on the impact on business strategies. It recognizes that firms must adopt an integrated approach to law and sustainability, considering multiple disciplines and goals, and serve as a forum for bringing together scholarship from fields such as environmental law, energy, government regulation and intellectual property. Firms increasingly have an interest in transitioning to sustainable business practices that take into consideration the fact that global resources are finite and will be increasingly scarce. They acknowledge that current actions have social, economic and environmental consequences and employ options to ensure that future generations have the same options and benefits. Examples of sustainable practices increasingly employed by firms include the institutionalization of “whole life-cycle” analysis in marketing and product design, utilization of sustainable inputs and energy sources, tracking and reporting sustainability performance, attempting the valuation of future generation prosperity and happiness as a discounting mechanism, and integrating sustainability into firm culture and management goals. It is clear that law and regulation have an extremely important role to play in the transition to more sustainable business practices. Broadly stated, law can provide structure for firms responding to forces that pull transition by enabling sustainability leadership and competitive advantage through funding models, intellectual property rights and collaboration means. Additionally, law can work to push transition by compelling firms to act through regulatory structures, accounting and governance mechanisms.

This book expands on law-related research by comprehensively examining the legal aspects of sustainability with a focus on the impact on business strategies, investigating the impact of law and regulation on business sustainability strategies through a variety of legal lenses. It assumes that firms must adopt an integrated approach to law and sustainability, considers multiple disciplines and goals and joins scholarship from fields such as environmental law, energy, government regulation and intellectual property.

Firms increasingly have an interest in transitioning to sustainable business practices that take into consideration the fact that global resources are finite and will be increasingly scarce. They acknowledge that current actions have social, economic and environmental consequences and employ options to ensure that future generations have the same options and benefits.Examples of sustainable practices increasingly employed by firms include the institutionalization of whole life-cycle analysis in marketing and product design, utilization of sustainable inputs and energy sources, tracking and reporting sustainability performance, attempting the valuation of future generation prosperity and happiness as a discounting mechanism and integrating sustainability into firm culture and management goals.

It is clear that law and regulation have an extremely important role to play in the transition to more sustainable business practices. Broadly stated, law can provide structure for firms responding to forces that pull transition by enabling sustainability leadership and competitive advantage through funding models, intellectual property rights and collaboration means.Additionally, law can work to push transition by compelling firms to act through regulatory structures, accounting and governance mechanisms.Finally, coherent legal approaches are necessary to harmonize transition across countries by aligning and adapting goals to promote an equitable global marketplace that promotes development.

Representing a variety of areas and perspectives, the authors go beyond the existing legal literature to explore the impact of sustainability law on business practice and its implications for policy and future research."