Chapter

Broadening Community and Regional Benefits from Energy Development through Environmental Restoration Funds

Nonye Opara

in Sharing the Costs and Benefits of Energy and Resource Activity

Published in print March 2016 | ISBN: 9780198767954
Published online June 2016 | e-ISBN: 9780191821783 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198767954.003.0013
Broadening Community and Regional Benefits from Energy Development through Environmental Restoration Funds

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This chapter looks at the environmental costs of conventional energy projects, particularly damage to the environment occasioned by resource extraction and development. It highlights the potential utility of environmental restoration funds as legal and financial mechanisms for providing benefits to communities dealing with adverse effects of resource development. The potential benefits of environmental restoration funds in addressing environmental degradation is evaluated in comparison with other institutions and mechanisms for managing environmental expenditure for restoration projects. Finally, the chapter canvasses the need for environmental restoration funds to be operated as state-led initiatives. It recommends changes to legal frameworks to facilitate the creation of these funds.

Keywords: energy projects; resource extraction; environmental restoration funds; resource development; environmental degradation; restoration projects

Chapter.  8052 words. 

Subjects: Environment and Energy Law

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