Nanotechnology: Ensuring the Benefits and Managing the Risks

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Nanotechnology developments have the potential for significant advances in many fields including medicine, energy efficiency improvements and environmental remediation, but many of the effects of nanomaterials on living organisms and the environment are not well understood. The medical innovations include improved drug delivery with reduced side effects, energy savings through nanocatalysis which enable chemical reactions at lower temperatures, as well as advances in solar technologies for capturing light for more efficient conversion to heat and electricity, and nanoparticles which can selectively trap and remove environmental pollutants. This research project will examine nanotechnology research trends and priorities in Australia in developing new applications, and how regulatory authorities are addressing community concerns about the safeguards in place for the introduction of a new technology. The research will take into consideration international research into new products and safeguards, and build on the findings of recent Australian studies, such as the report of April 2006 by the National Academies Forum into Environmental, Social, Legal and Ethical Aspects of the Development of Nanotechnologies in Australia, and studies by health authorities. The project will develop appropriate criteria for assessment of nanotechnology risks on a case by case basis for different applications to ensure public confidence that the health, safety and environmental aspects are being addressed. This work is designed to take into consideration the more recent work on nanoparticles since the earlier reports were speculative rather than evidence-based. Nanotechnology is an emerging science and will return economic and community benefits to the early adopters who can achieve this within expertly developed safety guidelines. The March 2005 report to the Prime Minister's Science, Engineering and Innovation Council states that ""nanotechnology could, over the next decade, be