This important new book is an indispensable guide to the development and implementation of environmental policy. It presents authoritative analyses and state-of-the-art summaries which will be essential both to scholars and practitioners trying to keep abreast of the most recent developments in this fast changing field.The book sheds new light on two areas of environmental policy - liability law and enforcement - which are experiencing dramatic change. It shows how economic analysis can provide useful and meaningful insights about subjects such as criminal penalties, private enforcement, liability for oil spills, tort remedies, and lender liability which have hitherto only been considered by lawyers. Drawing on the latest advances in both economics and law, it critically assesses how the most recent innovations in liability law and enforcement are actually working in practice.