Natural capital risk management: regulating the main externalities of business

Article

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

Authors
Article Title	Natural capital risk management: regulating the main externalities of business
ERA Journal ID	17107
Article Category	Article
Author	Martin, Rhett
Journal Title	Environmental and Planning Law Journal
Journal Citation	32 (6), pp. 505-533
Number of Pages	27
Year	2015
Publisher	Lawbook Co.
Place of Publication	Australia
ISSN	0813-300X
Web Address (URL)	https://www.westlaw.com.au/maf/wlau/app/document?tocGuid=AUNZ_AU_JOURNALS_TOC%7C%7CI377091aa812711e584c5a2b5af565fd9&parentguid=AUNZ_AU_JOURNALS_TOC%7C%7CI377091a5812711e584c5a2b5af565fd9&epos=1&startChunk=1&tocDs=AUNZ_AU_JOURNALS_TOC&endChunk=1&isTocNav=
Abstract	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.
ANZSRC Field of Research 2020	480299. Environmental and resources law not elsewhere classified
Public Notes	Files associated with this item cannot be displayed due to copyright restrictions.
Byline Affiliations	School of Law and Justice
Institution of Origin	University of Southern Queensland

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