title: The risks of risk-based regulation: insights from the environmental policy domain.
abstract: Risk-based regulation has become increasingly popular in recent years. Proponents argue that it facilitates robust governance, contributing to efficient and effective use of regulatory resources and delivering interventions in proportion to risk. Critics contend that the challenges of operationalising risk-based governance mitigate its potential benefits. In this paper we start by considering what we mean by risk-based governance and discuss some of the factors shaping the adoption of such strategies. We then consider the development and operation of risk-based approaches in the environmental policy domain, focusing specifically on the regulation of contaminated land and radioactive waste. We argue that whilst risk-based approaches can offer important benefits, they face a range of epistemic, institutional and normative challenges that can play an important role in shaping the way that organisations manage both risks to society and their own institutional risks. This has profound implications for achieving regulatory objectives and, for this paper, the environmental outcomes that the regulations are designed to deliver.
authors.affiliation: ESRC Centre for Analysis of Risk and Regulation, London School of Economics and Political Science, Houghton Street, London, WC2A 2AE, UK. h.rothstein@lse.ac.uk
authors.forename: Henry
authors.initials: H
authors.lastname: Rothstein
authors.forename: Phil
authors.initials: P
authors.lastname: Irving
authors.forename: Terry
authors.initials: T
authors.lastname: Walden
authors.forename: Roger
authors.initials: R
authors.lastname: Yearsley
mesh_terms: D004777:Environment; D004781:Environmental Exposure / Q000517:prevention & control*; D004782:Environmental Health; D011050:Policy Making; D011835:Radiation Protection / Q000331:legislation & jurisprudence / Q000379:methods*; D018570:Risk Assessment / Q000331:legislation & jurisprudence / Q000379:methods*; D018505:Waste Management / Q000331:legislation & jurisprudence / Q000379:methods*