This research report provides a detailed analysis of the regulatory process literature in order to identify opportunities to improve environmental regulatory development. It draws on lessons within Australia and overseas to present comprehensive recommendations that could be utilised by governments to ensure better environmental regulatory outcomes for farmers and the wider community. Based on their analysis,the researchers propose reform of: the fundamentals of Australia's natural resource management systemencompassing the architecture of environmental law; the way in which strategies are formulated and accountfor market instruments; the regulatory process; and the financing mechanisms used.