Role Of The Precautionary Principle In The Conservation (Chapter 3)
The Assignment Writing
Report on Role Of The Precautionary Principle In The Conservation
Challenges in implementing the precautionary principle in the conservation and sustainable use of marine biodiversity
Translating principles into practice
In the last three decades, there has been sufficient growth in the volume and importance of environmental law and policy. This has brought many significant improvements at the time of managing the environmental which also generates important question regarding the ways through which public and private institutions could manage scientific uncertainty at the time of undertaking decision regarding the practices which impacts the environment on diverse grounds. In this respect, it can be said that the precautionary principle is greatly adopted by several bodies that aids in generating the solution and this collection is also crucial in terms of exploring its potential. Overall level of environmental degradation is increasing; thus considering the same Environmental related laws have been developed. Considering the same, it can be said that some of the damage is not surprising. Cause- effect relationship have been clear; however at the same time political, economic and social trade- offs have allowed the damaging actions to occur since it keeps on changing. In a few cases, there has been scientific uncertainty regarding the outcomes of the actions; but it also generates a reasonable possibility that results in damaging the environment. However, in other situations, negative outcomes have been a surprise as the activities have been thought to be safe and secure. The exhaustion that happens in the stratospheric ozone layer through emissions of chlorofluorocarbons is one of the examples of such thing. Thus, it should be made clear immediately that the precautionary principle is greatly integrated with the second of these examples wherein situations shows scientific uncertainty which is also recognized in regard to the environmental outcomes of our activity. Therefore, it is essential to find out the requirement to deal with scientific uncertainty that has been a recurring theme in environmental law and policy. Recognition of increasing environmental degradation by the early 1970s have generated the need of critical decision making process and tools that aids to expect harm from human activities. Thus, according to that, appropriate measures needs to be taken for the purpose of migrating or preventing damage. Thus, as per the analysis, precautionary principle can be considered as an approach that has always been taken to some extent for the purpose of protecting environmental dimensions. Therefore, it is also identified that a number of themes have been developed in social science, philosophy and law which together have led to the precautionary principle. This can be regarded as a logical conclusion which brings numerous development which occurs both on practical and philosophical levels especially in western culture. Henceforth, it includes the failure of environmental management approaches such as the assimilative capacity approach and risk assessment to stop environmental degradation. This also gives acceptance of the concept of intergenerational equity; thus legal concerns are increasing over the problems with the burden of proof in environmental matters. At the same time, it also increases awareness of the complexity of environmental issues; hence this has emerged the concept of new sciences which includes Chaos theory and which also brings many questions related to the practices that are based on simple models of preventing the environment. At the time of implementing precautionary principle into practice, several issues arise such as execution of policy into practice. Since, it includes several stages; therefore it is crucial to consider all the principal facets. Such framework is also useful in providing aid so as to implement the rules mentioned in the precautionary principle which also aids in conserving biodiversity and natural resource management. These guidelines are being formulated because it crucially focuses on forestry, fisheries and protected areas. Incorporating the precautionary principle explicitly should be there on appropriate level so that policy framework could be changed accordingly. This could also result in conservation of natural resource management. Thus, it can be said that application of the principle needs to have a legal policy which has adequate control through the organized system of governance. At the same time, it has also led to the development of resource institutions that aids in carrying out several research regarding challenges and issues that is concerned with decision making aspects about the protection of natural resource management. Furthermore, there must a concise and particular aspect that defines measures that deals in operational values and this must be clearly implemented so as to reach towards specific outcomes. Thus, in terms of stating about the effects of conservation, it needs to translate the policy formation with operational measures so that the issues related to conservation problems can be ascertained and it also identifies practices that needs to be adopted in specific areas. Therefore, the implementation is also necessary as there is a need for flexibility and it also requires particular decision aspects that are regarded with policy measures. The support it provides also changes as per the time according to transformed circumstances. For the purpose of safeguarding the environmental values, the precautionary principle is essential to be implemented as per the capabilities of the states. The situations that are hazardous for the environment should not allow the use of scientific certainty as it postpone cost as this is an effective way to minimize the possible issues related to environment deprivation. Further, precautionary situations are generally risk associated wherein casual chain (that moves from hazards to final impacts) shows some uncertain effects because of the presence of casual relationship that can neither be established nor rejected. Without the incorporation of these principles in law or policy, it may have little influence on practice. However, at the same time, there is also a need for flexibility in applied principles that requires specific decision and management policy measures in the same domain as it results in supporting for conservation purposes. From the underlying challenges, it can be said that the threats that are included in conservation and protection aspects have a huge impact on several and changeable activities and decisive aspects. Therefore, all such reasons and hazardous elements are required to be addressed suitably as it requires efforts that are made to determine the known and unknown facts. This also states that the level of knowledge can be improvised; therefore there must be several aspects that can ignore the areas of uncertainty. At the same time, it also brings several challenges that could lead to conserve the resources by detecting and analysing the level of threats. Further, the frameworks is also required to analyse diverse alternatives so that the best practical solution can be ascertained which can also work in minimizing and reducing the level of threats. Therefore, at the same time, in this respect it can be said that significances and challenges that are developed from such courses are required to be accessed as such threats may have short term or long term effects. Proper roles and responsibilities are also required to be allocated so that it can aid in managing all the activities that are related to conservation of environment and biodiversity. However, if such thing includes diverse additional groups that conducts their responsibilities and investment aspects that are highly powerful in terms of financial and technical aspects. However, in some of the circumstances, there are various alternatives present which will also develop different challenges related to environmental conservation and in that case, the direction for accessing threats should be included. At the same time, when several decisions are made to deal with the uncertain condition, it imperatively requires to be apparent and to respond to the uncertainty so that the work of precautionary principle can be carried out in suitable way. Along with this, it is also crucial to ensure that transparency is being maintained and that it can provide a concise dimension that includes monitoring and feedback collection in decision making procedure. In this aspect, a reasonable balance is required to be struck out among the measures developed in precautionary conservative ways and this also have integration with several other aspects that brings varied threats while implementing it. Thus, it highly needs to consider the level of uncertainty especially at the time of dealing with precautionary principle.
The process of implementing precautionary principle is relevant in all the variants of scientific uncertainty that appears to have caused confusion and is on ongoing source of debate. Thus, in this case, a precautionary approach can be regarded as highly useful component and process of ecosystem whose impacts and consequences may develop other issues. This also generates other risks and challenges if not implemented properly and this also occurs at the time when precautionary principle is applied. Henceforth, precaution and risk management are not important until the risk factors are identified in the situations that warranty proper execution of the precautionary principle. However, it also needs to include all the situations that can be thought of as imposing potential risks. In terms of generalized aspects, implementation of precautionary principle requires safeguarding environmental facets so that species in the ecosystem can be managed suitably. However, on the other hand in several domains, application of precautionary principle seems to be an unusual concept that requires proper strategic implementation. While, on the other hand, several ways of precaution could also be executed as an important dimension that aids in conserving the biodiversity and along with that, challenges also arise while executing principles that requires consideration for a wide range of issues. Thus, the development of the principle could affect other strategic aspects if they are not managed suitably. For example- there are varied development aspects that lies in precautionary principle is included and also shows lesser impacts on the execution procedure of precautionary principle which is an important aspect that changes the execution procedure.
Extent and nature of uncertainty
It is identified that the operative measures are used for the purpose of executing precautionary principle which also depicts its impacts and this definitely changes as per the requirements of the environmental facets. This is greatly associated with the risk aspects through which it develops and the capacity of interest risks that prevails in management practices and approaches. Therefore, it can be said that up to a greater level, the generation of precautionary principle has led to development of several issues which are uncertain; however they are related to the philosophy of the management. Furthermore, it also make use of several values which are essential to safeguard the environment and eco-system. These attributes have also changed the ways through which value of environment is depicted. Contrary to this, there are a number of aspects that are concerned with biodiversity and that emerge from this paradigm which sometimes also brings various consequences.
The term uncertainty is apparently unpredictable and that aids in preservation and resource management aspects. The categories of uncertainty can be split into two types which also vary from each other. One is related to data omission which also changes the value of conservation and protection. It can be connected with varied values such as improper availability of investigation and measurement biases. This kind of uncertainty at least in precautionary principle can be solved through various investigation and research processes. The second uncertainty is related to the inherent aspect lies in the system which is also ascertained. Thus, the attributes of the system includes its complexities, scale, dynamics and other things that aids in comprehending or predicting the outcomes that are impossible or highly unreliable.
In the area of biodiversity, uncertainty has several dimensions that changes the value of environmental concern. Therefore, changes in the disturbances is poorly understood with the help of such principle. Therefore, it can be said that association in ecologies (specifically the most bio diverse) consists of numerous differentiating species which are interlinked with each other for developing the level of interaction and this is also associated with those values that enhances nutritional values, temperature aspects and hydrological systems. At the same time they also show how the ecosystem is related to varied dimensions of the environment (which usually keeps on changing). This also involves experimentation which comprises of those variables that cannot be developed possibly. While at the same time, it also changes the level of uncertainty that is explored in biodiversity and conservation of natural resource management which is being evaluated by the fact that it is known that how many species exist.
Thus, it can be said that the pre-determined aspects of natural resource management is featured by the fact of ecology and is also cannot be identified while focusing on scientific approaches. For instance – when the species present in the ecology are clearly identified, decisions related to the management of ecosystem needs to consider social, political and cultural values. Thus, it can be contended that in this scenario within which the precautionary principle is evolved with the human behaviour is consequently adopted on regulation. Thus, control of emissions generally leads to predictive reductions and that has also brought quitting the hazardous chemical values which is included in the production of the several conservative dimensions. However, most of the biodiversity conservation consists direct association among natural values of the ecosystem and the associated factors.
This also impact the decision regarding decrease in the fishery which also bans the use of toxic material for wildlife products and that depends on biological attributes of the species of system; alongside it also includes human responses to it. Therefore, it can be said that fisheries may develop the restrictive facets; however this can also affect the trade aspects present in the wildlife; but it may also adhere to various routes. Thus, it can also be said that it includes illegal aspects which also creates issues in regulating it. In this respect, managing the decision making aspects can also include not merely information concerned with science; but also it could include consideration of diverse environmental factors that changes the protection facets. With a certain level, it depicts that the association placed among precautionary principle and conservation action is not clarified and it may be regarded as essential in terms of developing precautionary aspects. This also develops scope among various aspects of precautionary principle and other dimensions that lies under this. This needs to be executed with the variables that are essential for principle implementation. Therefore, it can be articulated that there exists differences among threats under precautionary principle and conservation of biodiversity in the realm of natural resource development and it can also be applied to industrial applications.
This has been an important question which is occurred in the domain of implementing precautionary principle and which states that appeal of precautionary principle in domestic law and policy formation has various effects on actual conservation results. For example- it is also observed that afterwards several years of precaution which was executed as an important requirement under Australian environment law. Further, it seems to have a few impacts on practical aspects of precautionary principle. The development of the principle facets is also getting impacted if such legal flaws are initiated. At the time when the obligation is developed it shows greater impact on decision making aspects which includes all such provisions that are essential to reach towards a specific outcome. Whereas, in few of the activities, precautionary principle can be regarded as a mandatory procedure than to practical requirement. Therefore, it is also required to depict that while implementing precautionary principle, it is essential to take specific decision about the policy formation.
This also defines the operative measures that is vital to be executed while focusing on precautionary principle and the impacts which it gives also keeps on changing according to diverse environmental facets. This is also depending on the nature and source of risks which has different capacities of interest groups. At the same time, it also prevails challenges while implementing different activities and policies. However, up to a larger extent, the precautionary principle has been shown in integration with several risks and challenges which includes marine pollution and that is also against the prevailing management paradigm. At the same time, it also comprises different set of key interests that are made for the purpose of protecting environmental facets. These attributes are also useful in terms of showcasing the understanding of implementing of precautionary principle. Nonetheless, various significant aspects in respect of biodiversity and NRM sectors which also deviate from this philosophy along and brings several imperative consequences.
However, along with this, it is also observed that most biodiversity and conservation scenario comprises of concise interaction among natural ecosystem and factors present in the external environment. This includes an example as well such as the impact of a decision whether on fishery or ban on wildlife product which changes the biological characteristics of the system. This also states that fisheries may also enhance the level of restrictions and trade in wildlife will not reduce: however it could adhere to several aspects that may be regarded as illegal and insufficient which is also difficult to regulate. Thus, managing things regarding decision making can develop several scientific facets which may also show integration with environmental factors. Therefore, to a greater level, it emphasizes on the developed edge among precautionary and preventive related to conservation of biodiversity and it does not depict any specific aspect. Therefore, it can be said that most of the conservation and NRM measures can be called as important variables which reflects the requirements of precautionary action which also leaves scope that develops the ways through which precautionary principles can be applied. At the same time, it applies measures which needs to be implemented in different courses of policy development.
Nature of threat to biodiversity and living natural resources
According to the analysis, there has been a considerable difference between threats in precautionary regulation and management in the biodiversity. It is also ascertained that the precautionary principle is developed for the purpose of handling the contemporary aspects that is established through focusing on changing legal processes which usually shows the outcomes of technical values such as industrial chemicals, hormone treated livestock and nanotechnology. Thus, in this context it is analysed that in the protection of biodiversity and living natural resources, challenges are present which can also be observed by new devices and practices. This is truly a possible risk to biodiversity that is being posted by those organisms that are genetically appeared. At the same time, challenges are also emerged which are being developed by introduction of alien species that particularly leads to climatic changes. This can also be observed as a new dimension in the realm of contemporary values.
However, at the same time while ascertaining the challenges developed by habitat loss and degradation of natural resources that can also impact the biological facets of the environment. This also explains that there exist no new scientific aspects and processes. At the same time, there is no specific mystery which is concerned with casual links that is also associated to a newly developed variable concerned with technology. Still, the consequences of this difference is not clear yet. This also does not depict anything regarding the ways through which scientific risk assessment and stakeholder consultation can be carried out. This is usually adopted for the executing precautionary principle. This can be stated to generalised sorts of threats. It also includes the provision of multiple risks which includes the conceptual framework of precautionary principle. Thus, improper implementation of principles could also lead to risks and challenges that may further impact the conservation of biodiversity. This also generates the decisions to be taken among challenges and precautions.
Nonetheless, at the same time, decision makers that works in conservation of NRM should come up with numerous strategies so that the risks and challenges can be minimized. This also contends that if prevention can be made through harvesting coral reefs, then they may explode the reef for cement. At the same time, if harvesting is prohibited from medicinal plants and wild foods, then people may dislike such contradictions and can also ask for transformation in the conservation areas. Therefore, it is clearly said that management of eco-system for developing the value of species can generate economic aspects and it can also lead to underpin the agriculture sector. However, it may also lead to alternations regarding detrimental effects to other species. Hence, risks and challenges may also arise because of diverse sources and this may also change due to time variations which requires the application of precautionary principle.
It also includes values and objectives in decision making which clearly depicts that implementation of precautionary principle involves value judgement and the concept of trade-offs among diverse competing objectives. In NRM and conservation, different norms and aspects created challenges and risks which also shows that there exists greater diversity within the constituency and that leads to safeguarding the environment. A few are associated with the obligations of the individual animals which depicts the problems of the species after changing the procedure of policy formation. Whereas, some also focus on enhancing the value of ecosystem services, maintenance of other services and balancing species and ecosystem. These may also emphasize on several aspects that reduces the implication of ecosystem to perform the same aspects. This happens because of the broad environmental community. Therefore, in various decision making contexts, interest of other groups can be protected to raise the involvement.
Thus, it can be said that execution of precautionary principle also addresses specific objectives that are essential in terms of precautionary aspects and that also includes standards which are highly suitable in terms of developing interaction among competing groups who have different values, objectives and specifications. Similarly, the negative distributional consequence of precautionary management and policy in the biodiversity and NRM and this may also have a detrimental impact on poor facets rather than powerful. In current scenario, various analysis concerns the precautionary principle that also proponents the threat causing activities. This also depicts powerful interests that stands to profit by such activities. In this respect, the precautionary principle has been applied for the purpose of preventing the public or the environment. This also comprises the burden that are established by the application of precautionary principle and at the same time it also leads to several restrictions that lies on import, emissions or other activities which deals with the same.
Thus, it can be said that precautionary restrictions on use of wild resource can impact most serious aspects on underdeveloped countries among poor people and this can equitably consider specific aspects which are important from conservation point of view. From overview about precautionary principle, it is being analysed that in the realm of biological resource management; there are several principles that may not be directly opposed to such groups whose actions can develop further threats from environmental grounds. In this respect, it has also been analysed that there exists several differences among fisheries and pollution and the principles are typically developed for the purpose of surviving capturing fisheries. Therefore, in the area of industrial applications, there exists several groups that threaten the environment and also damage beneficial aspects. On the contrary, under such situations, it is essential to consider how to utilize manage and administer trade biological resources such as wildlife, forest products and fisheries which have a specific impact on eco-system and conservative facets. Typically, such groups are useful in terms of enhancing the value of sustainable management.
Therefore, it enhances the concern regarding precaution which is required to be implemented through community level resource and wildlife management. It is also an anticipated aspect which showcases that traditional and indigenous natural resource management does not exist on wider extent and this may also comprise the requirement of precautionary elements. Thereafter, this also raises concern towards implementing precaution in biodiversity conservation and NRM that specifically includes the use of management policy and tools. It is also ascertained that the precautionary principle is highly executed into practical terms because it has the nature of reversing the evidentiary burden. However, it requires establishment of an assumption wherein most of the activities are not required to be included because of the harmful elements it contains. At the same time, evidentiary burden may then also be implied on the exponent of the practice which also depict that it is not hazardous. For example – national forest regulations may also need specific consideration to get concession for forestry and this also safeguards the impact on biodiversity.
Thus also states that there is a need of strong version of precautionary which may also require definite evidence that the practice will not lead to any cause or any sort of impact prior it is allowed to be proceeded. For instance – under the Revised Management Procedure, development is required under the International Whaling Commission which also depicts the risk of overexploitation. This is also enumerated and can be determined on lower level. Where there are serious irreversible aspects that can produce harm, activities are considered as dangerous; hence it needs to be entirely prohibited in all aspects. Therefore, in various countries, there exists a multiple cessation on driftnet fishing which requires the application of the South Africa Marine Living Resources Act. This also forbids the utilization of risk associated elements that could impact the development of fisheries. Hence, precaution in conservation is also linked with broad conceptual or management approaches. This states that the species- based approaches shows varied global and national which are developed for the purpose of enhancing the value of conservation and protection of natural resources. Therefore, in this dimension the ecosystem approach incorporate the understanding regarding ecosystem which is largely unpredictable and uncertain.
In 2015, recoverable amount is higher than carrying figure so there is no journal entry has been made.
C. Explaining the reasons for impairment
In 2014, carrying amount is $200000, whereas recoverable amount implies for $110000. Hence, carrying amount is higher than recoverable cost which shows the loss of $90000. Carrying cost – recoverable amount $200000 – $110000 = $90000
D. Presenting the amount of plant and equipment in balance sheet
In balance sheet, revaluate amount of plant and equipment is recorded by business entity after doing final reversal.
Interpreting the technical requirements and importance of international accounting standards
International Accounting standards have high level of importance which ensures high level transparency and standardization in the financial statements. Hence, final accounts which are prepared according to IFRS are highly reliable in nature and thereby helps stakeholders in making decisions (Florou, Kosi and Pope, 2017). However, technical knowledge is highly required among the individuals or accounting personnel to deal with the aspects of International Accounting Standards such as IAS 12 and 26 etc. In this, accounting personnel must have ability to recognize deferred tax assets and liabilities. Moreover, assets, revenue received in advance, other liabilities, unrecognized items; consolidated financial statements are the main bases of taxation (Warren, 2016). By taking into consideration all such bases accounting personnel can assess or determine the tax liability. In addition to this, in IAS 12 contains rules regarding the measurement of deferred tax. Along with this, tax rate are also varied from one year to another. In this, accounting personnel is required to update with changing rules and policies. Through this, finance manager and accounting personnel would become able to determine suitable tax liability. In addition to this, IAS 26 serves information about retirement plans which can be distinguished into two types such as defined benefit and contribution plan. Hence, it clearly presents information about the recording, measurement and disclosure of information regarding the retirement benefit plans. Hence, for effective presentation accounting personnel must have knowledge regarding the rules and regulations which are related to it (Bond, Govendir and Wells, 2016). Thus, by considering all such aspects it can be said that technical and conceptual knowledge is highly required for dealing with the standards more effectively and efficiently. Moreover, reporting and measurement aspect of pension plan is highly differing from one standard to another (McPhail, Macdonald and Ferguson, 2016). For instance: UK GAAP has different rules in relation to treatment on pension benefits in against to IAS. Hence, conceptual understanding and knowledge is highly required for dealing with the amount of retirement benefits and deferred tax amount. There are several key issues which are associated with financial reporting enumerated below:
- Reporting needs and requirements are mentioned in the regulations which business entity requires following for ensuring transparency in the final accounts. However, sometimes is not possible for the business organization to comply with all the rules to the large extent.
- Further, some government authorities have framed and introduced legislation which entail that companies are not obliged to prepare financial statements according to accounting standards. Moreover, sometimes treasurer directives also enforce accounting standard which company has to follow for the preparation of financial statements.
- Bond, D., Govendir, B. and Wells, P., 2016. An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136.Accounting & Finance.
- Florou, A., Kosi, U. and Pope, P.F., 2017. Are international accounting standards more credit relevant than domestic standards?.Accounting and Business Research.47(1). pp.1-29.
- McPhail, K., Macdonald, K. and Ferguson, J., 2016. Should the international accounting standards board have responsibility for human rights?.Accounting, Auditing & Accountability Journal.29(4). pp.594-616.
- Warren, C. M., 2016. The impact of International Accounting Standards Board (IASB)/International Financial Reporting Standard 16 (IFRS 16).Property Management.34(3).