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This paper examines the import for fiduciary investors (pension funds, insurance companies, and mutual funds in OECD countries) of companies' environmental performance levels in light of existing and nascent energy-usage and environmental management policies. The study is based on an experiment using a sample of fiduciaries located mainly in Europe, North America, and Australia. Subjects are allocated to one of two groups: one group invests with reference to environmental considerations, while the other tracks a conventional equities index. Responding participants indicate the frequency with which they use nominated sources of information and rate the importance of nominated types of information in their decisions concerning the portfolio. The results suggest that the wider population of fiduciaries considers existing policy measures to be of limited value, yet, on liquidity grounds, might be prepared to take environmental considerations into account in the portfolio construction process. Another contribution of this paper is its framing and consolidating of literature on energy and environmental management policy, environmental investing, and decision psychology. [ABSTRACT FROM AUTHOR]

Participation has become a mantra in environmental governance. However, there are signs that the participatory agenda has started to lose its momentum and justification because of disappointments about actual achievements. Rather than focusing on improving participatory processes or articulating best practices, in this paper we seek to understand the more fundamental reasons why difficulties are encountered. In our interviews with professionals involved in participation in environmental governance we found varying and potentially conflicting rationales for participation, with instrumental and legalistic rationales dominating. We contend that the institutional and political context in which this participation takes place is an important explanation of this prevalence. This includes the provisions for participation in EU directives, failing policy integration, institutional and political barriers, and failing political uptake of results from participation. We conclude there is a need for more reflexive awareness of the different ways in which participation is defined and practised in contemporary environmental policy making and for a more realistic assessment of possibilities for changes towards more participatory and deliberative decision making. [ABSTRACT FROM AUTHOR]

Worldwide, metropolitan areas continue to be confronted by a growing number of increasingly difficult planning issues. It is our experience that planning practitioners have not taken full advantage of what the Delphi technique can contribute to making informed choices in a wide variety of decision and policy environments. The objectives of this paper are to describe and explain the research design that supported a real-world application of the Delphi technique in an urban, regional, and ecosystem- based planning context, as well as to demonstrate how this model has been or can be adapted to serve a variety of planning research or application tasks. [ABSTRACT FROM AUTHOR]

The authors draw upon survey evidence of expert conceptualisations of the value of public knowledge in environmental decisionmaking. In the context of local air quality management in particular, they consider how experts understand the potential benefits of technological citizenship, and what status they accord to lay knowledge relative to their own roles. Evidence suggests a continuing expert-deficit model of lay knowledge, with suspicions that the public misunderstand environmental issues. Although the need for public ‘buy-in’ to the solutions to problems such as air pollution is supported, this does not translate to a more proactive engagement of lay knowledge in the assessment of such issues. Experts seem to be personally challenged by such notions. The authors discuss the need for a cultural shift in expert understanding of the value of lay knowledge, supported by a move away from an oversimplification of the need for, and value of, public participation. [ABSTRACT FROM AUTHOR]

Appraisal—defined here to include a variety of ex ante techniques and procedures that seek to predict and evaluate the consequences of certain human actions—has been afforded an increas- ingly important role in environmental policy. We argue in this paper, however, that both the nature of appraisal and its role in the political process have been inadequately conceptualised. Exploring a literature that has tended to polarise ‘technical’ and ‘deliberative’ models, we identify a need for sensitive selection and combination of approaches, taking account of both the object and the objective of appraisal in particular contexts. We suggest that an important role for appraisal (by design or by default) may be that of providing spaces for dialogue and learning in the making of policies and decisions. A better understanding of such processes requires further research, particularly well- designed longitudinal work involving retrospective and ‘real time’ studies of appraisal in practice. [ABSTRACT FROM AUTHOR]