AROUND the world, governments are fighting a losing battle to stop companies degrading the environment. Loggers, poachers and emissions junkies are met with stiff taxes, fines and ultimately, the threat of prison. The logic is simple – the more you pollute, the more you have to pay. Except that it isn’t working. But one man thinks he has the answer: lowering the penalties for the worst offenders.
Harsher penalties seem only to encourage corruption and bribery, and ultimately more environmental damage, argues Richard Damania at the University of Adelaide. In Thailand, for example, the government has bumped up fines for illicit…
