Regulatory tools are explicit state interventions in policy, plan, project or programme (PPPP) processes, in pursuit of specific societal outcomes not achievable through normal market-based or incentive mechanisms. The tools and instruments available are diverse: legislation, licenses, circulars, permits, regulations, registrations, administrative guidelines, directives and codes of practice, collectively shaping a complex regulatory architecture for society to understand, use and abide by.
There is significant interest in embedding the Ecosystem Approach into regulation. The adoption of ecosystem services focussing on benefits means that the environment can be incorporated positively into decision-making and this taxonomy helps improve the value component which has suffered under market failure conditions in decision-making.
Specific guidance has been developed to incorporate the Ecosystem Approach within the following Regulatory tools: