Global environmental governance in the 21st century represents a major challenge for the international community because existing international environmental law and governance does not adequately meet the challenge of achieving net zero degradation of the environment, including net zero greenhouse gas emissions.
Research demonstrates that key reasons for this inadequacy are:
This research project meets this challenge to draft, design and develop appropriate legal and economic frameworks whilst also taking into account the broad range of relevant factors that can influence their successful implementation.
One of the foundational aspects of this research has been to design and draft a framework treaty that would have the effect of predisposing business and industry at national and international levels to achieve net zero degradation of the environment, including greenhouse gas emissions.
The framework treaty provided is an updated version of an earlier draft that was included in the 2014 book – Turner - ‘A Global Environmental Right’.
Its formulation relies on ‘macro legal analysis’ which has been used to provide insights into the way that different legal and economic frameworks can operate in unison to predispose business and industry toward environmental degradation rather than environmental protection. By identifying the elements of the international legal and economic frameworks that are responsible for these outcomes, the process enables their redesign and reformulation to ensure that business and industry are predisposed to net zero degradation of the environment in its operation.
The formulation provided still leaves the need for further research. A deeper understanding is required of the legal, economic and social impacts were this type of treaty to be adopted. Additionally, research is required to develop a clearer understanding of the transitional arrangements that would be required to achieve equitable outcomes.
The design and development of a global legal and economic framework that is predisposed to net zero environmental degradation requires an integrated approach to legal and economic reform. This inevitably means adaptation of the way that established but dated frameworks relating to business and trade operate on a daily basis. This means addressing corporate law, trade law, investment law, insurance law as well as their associated legal and economic frameworks at national and international levels.
As a result a key component of research and development in this field requires the active engagement of relevant stakeholders. These include international organisations, governments, business and industry, as well as civil society and academia.
The design and development of such a global legal and economic framework is such that it necessarily has implications for the furtherance of the development of the human rights responsibilities of business and industry. Similarly, it necessarily would play a major part in the realisation of the right to a safe, clean, healthy and sustainable environment.