Abstract:
The increased threat to human life (health) and environmental quality has been a growing concern in the past years. This had been attributed to both natural causes and man-made activities (especially industrial production). Continuous pollution of the environment especially by carbon emissions (CO2) and overuse of natural resources with appropriate measures to tackle these problems had been top on the agenda of many regional organisations such as the United Nations, European Union, Africa Union, amongst others. Environmental protection representing an integral component of sustainable development has made it important for conscious and concerted efforts to be made in environmental management. Thus, in managing the environment, policies are designed to drive the achievement of environmental goals. The combination of the identification of a goal and some means to achieving the goal is the main focus of environmental policies (Stavins, 2001a). The achievement of the goal is on one hand while the “means or instrument” in achieving the goal is another. As stated in United Nations Environment. Program (UNEP, 2004), many environmental problems generally involve either overuse of a natural resource or the emission of damaging pollutants.
