Abstract
This article draws on existing experience of the law, its application and enforcement as it affects environmental funds (or joint compensation schemes) in order to reflect on the more recent use and development of emerging funds. The investigation encompasses funds created through international accords in addition to those created on a national basis. It looks at schemes designed to identify and manage environmental liabilities as well as those designed to generate funding for environmental enhancement and protection. In addition to identifying any differences in approach between these two ‘types’ of fund the article isolates those aspects of existing schemes which have contributed towards their efficiency and effectiveness and investigates how far those criteria are reflected in the emerging environmental funds. A number of related issues run through the article: the variability of recognition of the ‘polluter pays’ principle, the identity and liabilities of fund contributors, the administration of funds and the achievement of widely differing objectives when compared with traditional civil liability regimes, the extent to which liability funds in particular are likely to achieve deterrence and promote higher standards of environmental protection, and the operational significance of accompanying provision for strict but limited liability and insurance cover.
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