ABSTRACT

Ecological and environmental destruction is advancing rapidly worldwide; this is in part because the harmful effects of human activity are either underestimated or ignored. Knowledge about current and future harm can be lacking due to uncertainty, caused by ignorance and/or indeterminacy (see Spash, 2002). This strong uncertainty cannot be overcome. Additionally, harmful processes may be irreversible. Hence, concepts have been devised that capture strong uncertainty and thus justify and allow limiting or redirecting potentially harmful or irreversible human activities. The first economic concept to capture such uncertainty and irreversibility in the field of resource use was the Safe Minimum Standard (SMS). Related concepts that have been developed are the Precautionary Principle (PP) [see also Chapter 26], a political instrument focussing on protecting the environment and human health, and planetary boundaries, proposing limits not to be transgressed in Earth system processes. The SMS will be discussed in detail, then the PP and planetary boundaries will be presented and compared, and concepts to help achieve them (e.g. reversal of the burden of proof, as well as intragenerational and intergenerational justice) will be briefly introduced.