International Trade and Environmental Protection: Revisiting Hardin's "Tragedy of the Commons"

Twenty-eight years after the emergence of the World Trade Organisation (WTO) regime, the trade-environmental protection relationship seems to have achieved some harmonisation from an initial chequered one, though not without some forms of lopsided balancing of the variables. This work explores the relationship between international trade and the environment, revealing whether the competing values are balanced. The methodology adopted is doctrinal, with a comparative and analytical approach involving desk and library research. The work is bifurcated into six parts, commencing with an introduction in the first: the second flesh out international environmental agreements relevant to the trade-environment interaction. The third part examines principles of international environmental law. The paper reflects unilateral trade measures in the fourth part. The fifth part takes stock of WTO jurisprudence. While considerable efforts have been made to mainstream environmental protection into trade objectives through the WTO jurisprudence, there remain some forms of market failures, making the trade-environment relationship lopsided, with inadequate attention given to the environment, which brings to fore the need to revisit David Hunter’s metaphoric invisible elbow destroying the common goods created by an invisible hand.