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So why should governments implement these policies? The rationale behind implementing environmental policies is to avoid ‘market failure’; market failure is where an individuals' pursuit of self-interest leads to bad or catastrophic results for the society as a whole. There are a few types of market failures that justify the government’s actions and some of these are protection of public goods which can be in the form of “common pool” resources like fauna, forests, and fish stocks or “common sink” resources fresh air ; addressing transboundary problems in the case of climate change, ozone depletion and marine pollution; the irreversibility of limited resources where limited natural resources will be exhausted and species will become extinct; and reduce the impact on temporal and spatial variability, this is where the effects of environmental issues will affect future generations rather than present generations...
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