Reforming the Common Fisheries Policy
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Reforming the Common Fisheries Policy

Jill Wakefield

This book takes a critical view of the policy and law governing EU marine fisheries and the effect of the 2013 reform of the Common Fisheries Policy (CFP). Reforms to the CFP are impeded by Treaty-guaranteed concessions, exemptions from general environmental legislation and the Court of Justice’s creation of principles unique to the sector. The author discusses how damaging effects of fishing could be ameliorated if the Court were to align fisheries principles with general principles of law, and considers the institutional and regulatory frameworks needed to encourage prudent resource use.
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Chapter 8: The EU’s use of market-based instruments to plug a regulatory gap

Jill Wakefield


Over twenty years ago, the EU approved MBIs as mechanisms that would promote the responsible use of natural resources. This chapter considers the use of MBIs that operate within clear regulatory frameworks applying environmental principles, most particularly the polluter-pays principle, which is discussed in conjunction with the user-pays principle. The user-pays principle has been deployed in the EU’s WFD and the polluter-pays principle in the Environmental Liability Directive. These instruments demonstrate the potential of MBIs to deliver policy goals in situations of market failure, transferring the costs of the adverse effects of resource use from the general public to users of environmental resources. So successful is the device that the Commission proposed extending the existing financial security provisions of the Civil Liability Convention for Oil Pollution Damage in a new EU scheme. These provisions were intended to persuade operators towards the prudent conduct of their affairs with a view to protecting the environment. The efficacy of such MBIs will depend on operators providing financial security against the risk of damage being caused by their activities.

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