Voluntary Agreements in Environmental Policy: Advantages and Disadvantages
Voluntary Agreements in Environmental Policy: Advantages and Disadvantages

Summary/Abstract: Environmental agreements are new regulatory tools for environmental policy. Their aim is to find flexible mechanisms that put more responsibility on producers, but also leave more ways for individual solutions that can improve efficiency. Environmental agreements can be legally binding with obligations, but they may also be non-binding “gentleman's agreements” in the form of a unilateral commitment recognized by the public authority. They can bring about effective measures in advance of legislation and thus reduce the volume of regulatory and administrative actions; form a rapid and flexible response to environmental challenges from stakeholders who have gained particular experience in the field; stimulate a pro-active approach from industry and can offer cost-effective solutions for faster achievement of environmental objectives. However, environmental agreements are not a panacea and need to be applied in a mix of policy instruments, i. e. as a supplement to legislation and environmental taxes.

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