In the western world, environmental management and stewardship are key responsibilities of both public and private institutions. In U.S.A for instance, the Superfund insurance scheme was established under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) of 1980. The overall purpose of the fund was to provide protection to individuals and properties against the possible hazards arising from “potential polluter industries” and related facilities. As a requirement by federal government and related legal structures, the Superfund has worked to ensure that individuals living in close proximity to the polluter premises are well covered and protected. Moreover, superfund has taken into consideration all losses and adverse effects impacting the environment from polluter firms.
Furthermore, Superfund was established to ensure that individuals, groups and public entities adhere to the environmental regulations environmental laws and standards. The Superfund runs on revenue received from taxation of all development projects. This money is then used to mitigate the negative effects of rogue firms that are unable to deal with the mess, or are simply careless. Levies are made available to both public and private industries and development projects, and through the scheme all polluter industries are obligated to remit a …show more content…
The “polluter- pays- principle” which was embraced in EMCA 1999, needs to be re-invigorated in a way that helps the entire fraternity of polluter industries, projects, the government and public respond to issues of environment in a practical and more environmentally rewarding ways. We suggest that a scheme with features such as the Superfund insurance cover be adopted to help harness the tremendous benefits of sustainable green development in the country. Let us adopt
Furthermore, Superfund was established to ensure that individuals, groups and public entities adhere to the environmental regulations environmental laws and standards. The Superfund runs on revenue received from taxation of all development projects. This money is then used to mitigate the negative effects of rogue firms that are unable to deal with the mess, or are simply careless. Levies are made available to both public and private industries and development projects, and through the scheme all polluter industries are obligated to remit a …show more content…
The “polluter- pays- principle” which was embraced in EMCA 1999, needs to be re-invigorated in a way that helps the entire fraternity of polluter industries, projects, the government and public respond to issues of environment in a practical and more environmentally rewarding ways. We suggest that a scheme with features such as the Superfund insurance cover be adopted to help harness the tremendous benefits of sustainable green development in the country. Let us adopt