Keeping Pace with Nanotechnology: A Proposal for a New Approach to Environmental Accountability

Abstract

The rapid growth of the nanotechnology industry that challenges traditional governance structures also calls for new approaches to accountability. Using a broader range of accountability mechanisms could help avoid adverse effects of the evolving technologies, foster public confidence in nanotechnology, and encourage the development of new, beneficial technologies. In this Article, the author illustrates some of the tools of environmental accountability that may be employed in the context of nanotechnology. The article discusses how traditional accountability mechanisms already inherent in the federal environmental statutes may be applied, emphasizes the need for flexibility in permitting, encourages broader public involvement, greater public access to information, the use of voluntary accountability programs, and expansion of industry self-regulation. The author concludes by suggesting the creation of a Nanotechnology Council to bring stakeholders together to address accountability issues.

Keywords: Nanotechnology, public participation, voluntary programs, industry self-regulation, liability, industry codes, access to information, flexible permitting, accountability, environment

JEL Classification: K3