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International Regulatory Co-operation: Case Studies, Vol. 3

Transnational Private Regulation and Water Management

image of International Regulatory Co-operation: Case Studies, Vol. 3

The world is becoming increasingly global. This raises important challenges for regulatory processes which still largely emanate from domestic jurisdictions. In order to eliminate unnecessary regulatory divergences and to address the global challenges pertaining to systemic risks, the environment, and human health and safety, governments increasingly seek to better articulate regulations across borders and to ensure greater enforcement of rules. But, surprisingly, the gains that can be achieved through greater co-ordination of rules and their application across jurisdictions remain largely under-analysed.

This volume complements the stocktaking report on International Regulatory Co-operation: Rules for a Global World by providing evidence on regulatory co-operation in the area of transboundary water management and through the fast development of transnational private regulation. 

English

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Transnational private regulation

As markets and regulatory tasks become increasingly global, forms of private international regulatory co-operation are emerging along with – or sometimes as a replacement for – inter-governmental co-operation. In a number of settings, traditional forms of public intervention are facing enormous, sometimes insurmountable difficulties in coping with certain policy problems. The weaknesses of public regulation emerge more specifically at the transnational level where difficulties to co-ordinate, inconsistencies between standard setting and enforcement, divergences between administrative and judicial enforcement and within the latter among domestic courts make inter-state regulatory co-operation an insufficient response. This case study analyses how the development of transnational private regulation responds to the needs of globalisation, while raising a number of challenges.

English

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