Financial provision : protecting the environment and the public purse

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      <subfield code="a">Financial provision</subfield>
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      <subfield code="a">At a meeting of the Network of heads of European Environment protection Agencies (EPA Network) in Oslo in 2014, it was recognised that the cost of dealing with environmental liabilities arising from industrial operations too often fell to the public purse as a result of the failure of financial provisions. A project was set up to look at the extent of this problem across Europe, and identify what forms of financial provision are most likely to deliver secure and sufficient cover which is available to the regulator when needed. This report presents the results of the first year of the project, and provides recommendations for the second year of the work. The project aims are defined as the generation of a better understanding of the availability and suitability of financial tools. This should result in improved protection of the environment and the public purse, whilst ensuring compliance with the Polluter Pays Principle, and encouraging operator investment in pollution prevention. The work comprises three main components: a questionnaire-based survey, which generated 150 responses; a workshop of technical experts in the field, which was attended by about 40 delegates; and  Follow-up interviews and interaction with a range of specialists with knowledge of the subject</subfield>
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