|Incentive-based schemes can offer a flexible alternative to more traditional command-and-control approaches in the regulation of 60,000-plus chemicals that enter into products and services of everday life. However, toxic substances often defy conventional pollution abatement strategies, which typically involve fairly homogeneous pollutants associated with one stage of production at a readily identifiable source. |
Using case studies, the authors evaluate the potential attractiveness of incentive-based policies for the regulation of four specific toxic substances: chlorinated solvents, formaldehyde, cadmium, and brominated flame retardants. By investigating the potential effectiveness of various combinations of deposit-refund schemes, product labeling, taxation, marketable permits, and performance bonds to reduce risks associated with these substances, they provide a compelling demonstration of the role of case studies in determining the appropriate regulatory approach for specific toxic substances.