International practice of environmental challenges regulation

Abstract

Modern society needs to establish a balance between social and economic development and environment conservation. This target can be met through the integrated use of legislative, economic and administrative measures developed and implemented by various international, national and regional organizations. Environmental management can achieve the maximum efficiency only through the joint use of three environmental policy instruments: direct regulating, market-based instruments, and voluntary programs. Direct regulating is inherently directive in terms of establishing emission standards / discharge limits, industry product and process specifications, and transparency reporting requirements. The implementation of market-based instruments depends on the day-to-day use of private sector financial calculations. Economic methods include price-based instruments and property-based instruments. Voluntary programs, actively encouraged by governments, offer intangible rewards such as public recognition. The vast legislative framework and activities of governmental and public organizations encourage mining and processing enterprises to strictly conform to environmental rules and regulations. While multiple market-based instruments of environmental management and voluntary programs provides businesses with greater autonomy in choosing ways, means and terms of restructuring their environmental policies to meet pressing environmental challenges.