Economics and Power in EU Chemicals Policy and Regulation: Socio-economic Analysis for Managing Risks

Laura Maxim's book evaluates the use of socio-economic analysis (SEA) in the regulation of potentially carcinogenic, mutagenic, and toxic chemicals, tracing the history of cost-benefit analysis in chemical risk policies and proposing a new form of risk regulation called 'regulatory co-management.' It outlines the controversy surrounding cost-benefit analysis in the US, the history of chemical regulation in Europe, and the construction and institutionalization of the European Chemicals Agency's (ECHA) socio-economic guidelines.

Format: Hardback
Length: 246 pages
Publication date: 14 March 2023
Publisher: Edward Elgar Publishing Ltd

In this comprehensive and timely book, Laura Maxim delves into the realm of socio-economic analysis (SEA) in the regulation of potentially carcinogenic, mutagenic, and toxic chemicals. Tracing the historical trajectory of cost-benefit analysis in chemical risk policies, the author presents a contemporary discourse on the political success of SEA. Drawing upon empirical research, theoretical analysis, and extensive professional experience in implementing EU Regulation on the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), Maxim proposes a novel approach to risk regulation known as "regulatory co-management," wherein SEA serves as a convenient tool. The book unfolds in chapters that explore the controversy surrounding cost-benefit analysis in the United States, examine the historical development of chemical regulation in Europe since 1967, and delve into the construction and institutionalization of the European Chemicals Agency's (ECHA) socio-economic guidelines. The concluding chapters analyze legal, political, and ethical criticisms of the role of SEA in authorizing chemicals such as lead chromate, chromium trioxide, and sodium dichromate.

This unique book holds immense relevance to ongoing debates surrounding the revision of EU chemicals policy. It serves as a vital resource for practitioners of socio-economic analysis, stakeholders involved in REACH, academics, and students of environmental governance and regulation, European politics and policy, and industrial economics. By examining the multifaceted aspects of SEA's application in chemical regulation, Maxim offers valuable insights into the complex dynamics of risk assessment and decision-making processes.

The book's comprehensive coverage spans various dimensions, including the historical context, theoretical frameworks, empirical research, and practical implications of SEA in chemical regulation. It sheds light on the challenges and controversies associated with cost-benefit analysis, explores the role of SEA in shaping regulatory frameworks, and examines the ethical considerations that arise in the authorization of chemicals. Through its multidisciplinary approach, the book provides a comprehensive understanding of the role of socio-economic analysis in ensuring the safe and sustainable use of chemicals in society.

In conclusion, this timely and insightful book by Laura Maxim is a valuable contribution to the field of environmental governance and regulation. It offers a comprehensive exploration of the use of socio-economic analysis in the regulation of potentially harmful chemicals, providing valuable insights into the political success, controversies, and ethical considerations associated with this approach. With its direct relevance to ongoing debates about EU chemicals policy, this book is essential reading for practitioners, academics, and stakeholders interested in understanding the complexities of risk assessment and decision-making in the chemical industry.

Dimension: 234 x 156 (mm)
ISBN-13: 9781803928067