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| Regulatory Approaches | Market Based Instruments and Fiscal Mechanisms | Cooperative Management Agreements | Information Disclosure | Voluntary Stewardship and Corporate Environmental Governance |
| Government with the key role as regulator; imposes rules and limits to activities through regulation. | Market forces as the key role facilitated through regulation - engage price mechanism to motivate behaviour toward an environmental objective | Cooperative relations among government, industry & mediating public interests setting performance expectations through binding agreements. | Citizen control through the forces of public scrutiny and citizen purchasing power to influence environmental behaviour of a target group | Self imposed voluntary initiatives by regulated parties motivated through a stewardship ethic, social conscience and corporate governance |
Traditional
Progressive
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| |||
| Prescriptive > ---------- > Greater Flexibility | ||||
| Deterrent based > ---------- > Greater use of Incentives (in combination with deterrents) | ||||
| Compliance objective > ---------- > Performance focused | ||||
| Government acting alone > ---------- > Shared responsibility - partnerships | ||||
| Higher government assurance > ---------- > Lower government assurance | ||||
Additional tools: