http://www.crdc.com.au/uploaded/file...enetal2009.pdf

Just thought I would post this link - bound to make your head hurt and the conclusions are pretty logical but makes for interesting reading if you are into this sort of thing.

As far as environmental impact, this study found:

The two disposable nappy faeces disposal scenarios (“flushing” and “direct disposal”) could not be
distinguished using the four indicators considered here. Airborne and waterborne emissions, as
well as public health effects, need to be accounted for to assess and compare the two disposal
options.