Risk Assessment And Management Of Genetically Modified Organisms Under Australia S Gene Technology Act

Since their commercial introduction in 1996, genetically modified (GM) crops have been adopted by farmers around the world at impressive rates. In 2011, 180 million hectares of GM crops were cultivated by more than 15 million farmers in 29 countries. In the next decade, global adoption is expected to grow even faster as the research pipeline for new biotech traits and crops has increased almost fourfold in the last few years. The adoption of GM crops has led to increased productivity, while reducing pesticide use and the emissions of agricultural greenhouse gases, leading to broadly distributed economic benefits across the global food supply chain. Despite the rapid uptake of GM crops, the various social and economic benefits as well as the expanding rate innovation, the use of GM crops remains controversial in parts of the world. Despite the emergence of coexistence between GM, organic and conventional crops as a key policy and practical issue of global scale, there is no coherent literature that addresses it directly. Governments and market stakeholders in many countries are grappling with policy alternatives that settle conflicting property rights, minimize negative market externalities and associated liabilities, maximize the economic benefits of innovation and allow producer and consumer choice. This book intends to fill these needs with contributions from the top theoreticians, legal and economic analysts, policy makers and industry practitioners in the field. As the economics and policy of coexistence start to emerge as an separate subfield in agricultural, environmental and natural resource economics with an increasing number of scholars working on the topic, the book will also provide a comprehensive base in the literature for those entering the area, making it of interest to students, scholars and policy-makers alike.

The controversial issue of genetically modified (GM) food is discussed in this book. While the United States (US) is a strong supporter of GM technology having adopted a rather lax regulation of trade with GM products, the European Union (EU) is representing a sceptical position towards this new technology and has even imposed a de facto moratorium on further approval of GM products from 1998 to 2004. The purpose of this book is an extensive analysis of the current status on risks and benefits of genetically modified organisms (GMOs) and a suggestion on how an appropriate regulation of GM products could be derived. Potential guidelines are provided for policy formulation both in a qualitative and in a quantitative dimension. The US is applying the principle of substantial equivalence, which means that GM products are in their substance identical to products produced by conventional methods. Therefore, no new regulations are necessary for the trade with GM products. In contrast, the European Union (EU) disagrees that GM products are equivalent to their conventional counterparts due to the different production process. Instead, the EU refers to the precautionary principle in its GMO policy, meaning that trade with GM products should be restricted until it will be proven that no additional risks are implied by the use of these products. The divergence of opinions about the right policy to regulate GM products has significant impacts on trade flows and welfare effects. The US and the EU have already tried to resolve their dispute before the World Trade Organization (WTO). Relevant laws of the General Agreement on Tariffs and Trade (GATT) and the WTO are presented as well as indications for a potential consensus.

The debate about the use of genetically modified organisms in European agriculture is fuelled by the fear of the general public about potential risks of GM farming, whether substantiated or not. Transgenic food is suspected to cause bodily harm, have a negative impact upon the health of animals, weaken the productivity of conventional farmland, reduce biodiversity or otherwise deteriorate the environment, to name but a few dangers popping up in the public debate. Apart from setting standards for GM farming and requiring safety checks for transgenic products, all jurisdictions also provide for the case that such risks should materialize. These are not necessarily novel approaches - classic tort law already offers remedies for such losses. Sometimes these traditional solutions are enhanced or replaced by alternative redress schemes. This volume compares twenty European and four non-European jurisdictions in this respect and provides special analyses from an economic and insurance perspective as well as surveys of cross-border dispute resolution and international law.

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