The government initiatives on nanotechnology have identified several difficulties with risk assessment and regulation of risk. Work is progressing towards developing a language and methodology for risk assessment, focussing mainly on potential human health effects. In our view, current regulations are not well adapted to the proactive risk assessment of these engineered nanoparticles and the prediction of liability risk exposure remains highly uncertain. Most of the relevant regulations have the capacity to support retrospective interventions e.g. restrictions on supply after a harmful event has occurred.
Evidence from:
Department of Trade and Industry. October 2006. URN 06/1992
‘Nanoscience and Nanotechnologies: Opportunities and Uncertainties’. Two-Year Review of Progress on Government Actions”
Financial quantification of risk, the cost of control or mitigation, compensation and manifestation time-scales are not being tackled in a systematic way. Interest in economic and social consequences is limited to issues concerned with democracy and funding priorities, and with economic growth and lifestyle issues. There are no compensators on the Nanotechnology Research Coordination Group (NRCG). It is probably considered too early to be concerned with such matters until the products etc. have proved themselves to be competitive. Sustainability will only be fully assessed if problems, and their costs, begin to emerge.
Further detail: