Document Type
Article
Disciplines
International Law
Abstract
The past three years have witnessed an extraordinary degree of change in the countries of Central and Eastern Europe. The extent and pace of change have made it increasingly difficult to predict with any real assurance just which of the structures, institutions, laws or personnel, among other things, that are in place today will still be in place twelve months hence. Such uncertainty has meant that planning within these countries, and planning by those outside of but who wish to operate within, has either been executed in a perilously vacant lot, -or else has had to rely on rules and regulations which may be changed in an unpredictable way at some unpredictable time in the future. For those involved in the business of investment, no less than for those concerned with the regulation and control of investment, this process has had a constraining effect on activity.
As far as the treatment of environmental issues is concerned, the problem, hardly disassociated from questions of investment, is no less acute. The result of incertitude as to what system of regulation will apply and how it will apply is that existing degradation and despoliation has not been tackled effectively either in the short term, or as part of an integrated long-term policy. Much of the environmental degradation in this part of the world as elsewhere is not simply a matter of short-term relevance.
After a period during which not all Central and Eastern European countries were able actually and successfully to start tackling the thorny environmental issues they faced and still face, there now appears to be some movement to deal with their myriad of problems in a more concrete way. How these problems are addressed, and the extent to which action will bear concrete results depends on how the problems are identified and how states perceive that they can best be resolved. This is not an academic question. If the framework for an effective response is not identified in the most appropriate way by any given country in the region, then that country risks not having an effective long-term policy for dealing with the issues of internal environmental regulation, and risks jeopardizing the success of any action that may be taken to this end by other countries in the region.
Attention has focused on how one may reconcile, as one must, the competing demands one finds in industrialized democracies: industry, economists, investors and the general population all demand that action be taken to restructure the economy and to safeguard employment while at the same time protecting and improving the environment. There is no simple way to reconcile such demands. It is not as straightforward as simply closing down inefficient and polluting plants or allowing them to operate inefficiently thus creating further costs, particularly at the expense of the environment, that will only have to be met in the future.
In the end, it is suggested, there are two alternatives: either the economy and the environment are treated as two distinct areas of activity, or they are seen as integral facets of a single issue - behavior in an industrialized society. If one opts for the latter, the next step is to establish the modus operandi through which competing demands are recognized, yet regulated in an ordered and balanced manner. One way to achieve the latter is through sustainable development. This option, as well as a mechanism for reconciling competing demands within a single legal structure, have been adopted by the European Community.
The Community is in a unique position given its nature and relationship with Central and Eastern Europe, and as far as dealing with the problem of how to reconcile a desire for an industrial policy with the desire for an improved environment is concerned. Both the geography of this area of Europe and its historical and cultural links have created a high level of mutual interest. One must also not forget the economic advantages that might accrue to participants from all sides. The Community itself through its own history and development provides a useful, as well as practically relevant model when considering the path that the countries of Central and Eastern Europe may choose to follow.
Recommended Citation
Sheridan, Maurice, "Investment Policy and the Environment: The Role for European Community Law" (1992). Connecticut Journal of International Law. 182.
https://digitalcommons.lib.uconn.edu/cjil/182
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