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Abstract: Orphaned pollution is persistent environmental contamination from a source for which the responsible party cannot be identified or no longer exists. Orphaned pollution is a global problem, ranging from ancient Rome’s hazardous waste dumps to leaking kerosene tanks abandoned during the “Dust Bowl” in Oklahoma. How can law encourage remediation of orphaned pollution by parties that bear no responsibility for that pollution? Often, the parties best positioned to address orphaned pollution are “classical model firms.” Classical model firms are for-profit firms that derive their book value substantially from tangible assets, like mining or energy companies. These companies have the expertise and resources to effectively address orphaned pollution. Law, however, often poses obstacles that discourage voluntary remediation of orphaned pollution by classical model firms. Unlike “new paradigm firms” that derive substantial book value from intangible assets like brand name or reputation, classical model firms arguably lack legal and financial incentives to engage in voluntary “corporate social responsibility” projects, like remediation of orphaned pollution. Relying on the example of abandoned mine remediation, this Article reconceptualizes corporate social responsibility for classical model firms and offers a new definition of corporate social responsibility. This Article also proposes regulatory reforms that would remove obstacles to the remediation of orphaned pollution by classical model firms and emphasize the existing incentives those firms have to address the challenge of orphaned pollution.
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