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The election of George W. Bush as U.S. president in 2000, as measured by the Iowa Electronic Market (IEM), was associated with an increase of 3% in the share price of firms that were being sued by the Environmental Protection Agency (EPA). This is equal to approximately $100 billion of shareholder value. This finding is robust to a number of different specifications, controlling for other litigation, case law, and industry, and is not found in an otherwise similar sample of companies without litigation outstanding. It is suggested that the enforcement of environmental law is dependent on political pressure. [ABSTRACT FROM AUTHOR]

The article offers information about the Karl Schmitz-Scholl Fund for Environmental Law and Policy and the Elizabeth Haub Foundation for Environmental Law and Policy in the U.S. The Karl Schmitz-Scholl Fund for Environmental Law and Policy was founded in 1968 by Elizabeth Haub in honor of her father's 100th birthday. The Elizabeth Haub Foundation (US) was established by Helga Haub in 1981 and its sister organization opened in Canada in 1996. Both organizations work in conjunction with international and national organizations throughout the world, such as The International Council of Environmental Law (ICEL) and The IUCN-Environmental Law Programme (IUCN-ELP). They are also involved in the drafting of nearly all legally binding treaties on the environment and sustainable development.