This includes privatization, pricing reforms, structural adjustment, the revamping of fiscal policies, and trade liberalisation. From a political perspective, such moves are changing basic views about the relationship between national jurisdiction and economic globalisation. This rapidly changing relationship between national sovereignty and multilateral cooperation lies at the heart of the political debate between trade and environment. It was an issue which assumed centre-stage, during negotiations towards the June 1992 Earth Summit. Over the past twenty years, national environmental actions have increased dramatically.
Regulations are more stringent, focused and cost effective than ten or even five years ago.
Assessment and management of environmental risk is more sophisticated. Voluntary industry guidelines, green consumerism, life-cycle management continue to move forward. Despite solid progress, however, scientific evidence clearly point to more, not less, environmental degradation. Issues as diverse as marine pollution, land degradation, ozone layer depletion, climate change, the loss of biodiversity, require that environmental strategies be coordinated at the international, as well as national levels. This balancing act between national and multilateral policies underlines a series of politically thorny issues in the trade-environment debate.