In less than a decade, nanotechnology has exploded from a relatively obscure and narrow technical field to a scientific, economic and public phenomenon. The precipitous emergence of such a broad and significant technology has created an unprecedented opportunity to craft new regulatory or oversight approaches on a clean slate. Indeed, discussions of appropriate forms of regulatory oversight for nanotechnology have shadowed the exponential growth of the technology itself, with a rapid proliferation in calls and proposals for regulation. The actual adoption of nanotechnology-specific regulations, however, has increasingly lagged both the technology and the academic and policy debate:'while governments have invested heavily in R&D programs they have been noticeably unenthusiastic about implementing new regulatory frameworks ' (Bowman and Hodge, 2006: 1065; see also Renn and Roco, 2006).Of the many impediments to the enactment of regulations, one that is of particular interest is the international scope of nanotechnology development (Roco, 2006;Kostoff et al., 2006). Every major industrial country is actively pursuing nanotechnology (Roco, 2006), and none wishes to put its scientists and companies at a competitive disadvantage by unilaterally imposing restrictive regulations. Moreover, the international trade wars which continue to rage over inconsistent regulation in other areas of innovation, such as biotechnology, further caution national governments against attempting to 'go it alone'Electronic copy available at: http://ssrn.com/abstract=1424697 Electronic copy available at: http://ssrn.com/abstract=1424697 There are appealing arguments for harmonisation, summarised in Part I below. To be sure, for the reasons stated in Part II, formal international regulation, as traditionally understood and applied, is unlikely to be feasible anytime soon. Yet less formal 'governance' approaches may still hold promise for promoting the international coordination, if not harmonisation, of nanotechnology regulation; we explore these approaches in Part III. We conclude by suggesting a phased approach to harmonisation, beginning with soft, informal governance measures, then moving, as needed in the future, to a framework convention that would enable mandatory formal rule-making.
I. The Appeal of International CoordinationWhile nanotechnology is still an emerging technology, and risk assessment of nanomaterials is even less developed, researchers have identified a range of potential health, safety and environmental hazards in initial screening studies of some nanotechnology applications (Nel et al., 2006;Ray et al., 2009 It is virtually certain, though, given the great number and diversity of current and future nanotechnology products and applications, that some of these will present health, safety or environmental risks if not properly managed (Maynard, 2006 technology regulation has traditionally proceeded at the national or sub-national level, with international coordination limited to a relatively small set of treaties that se...