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Environment - Economy interaction

28 important questions on Environment - Economy interaction

Depletion (Section 11.3.3.2)

The exhaustion of natural resources as a result of their use beyond their rate of replacement.

Environmental Degradation (Section 11.3.3.2)

The deterioration of the environment, often in the form of pollution.

Maintenance Costs (Section 11.3.3.2)

The abatement/avoidance/restoration costs required to achieve a certain standard of emissions or maintain/restore certain standards of environmental quality.

Sustainability Gap (Section 11.3.4.3)

The difference between the current level of environmental impact from a particular source and the sustainable level of impact according to some accepted sustainability standards.

Cost-effectiveness model (Section 11.4.1)

A model determining how to meet a given objective at the lowest cost.

Cost-oblivious model (Section 11.4.1)

A model used in environmental decision-making that involves taking decisions without any regard to the costs involved. Issues of morality and justice are of primary importance.

Cost-sensitive model (Section 11.4.1)

A model used in environmental decision-making where the relation between the costs and benefits of an option has some influence in determining both the objective to be set and ways to achieve this.

Educative Argument (Section 11.4.1)

A philosophical approach based on the view that nature is necessary to humans’ discovery of their identity and their place in the universe.

Ethical Argument (Section 11.4.1)

A philosophical approach that is based on the perception that all living beings have an equal right to exist.

Survival Argument (Section 11.4.1)

A philosophical approach stressing that the continued functioning of natural processes is essential to human existence.

Utilitarianism (Section 11.4.1)

A philosophical theory suggesting that the proper course of action is one that maximises happiness (‘utility’).

Cost Reduction Curve (Section 11.4.2)

A curve linking the marginal cost of different technologies to the amount of environmental improvement.

Environmental Functions (Section 11.4.2)

These comprise the generation by the environment of resources for human activities, the absorption of waste from such activities, the provision of macro-scale services such as climate stability and the
opportunities in terms of amenity and recreation.

General Equilibrium Analysis (Section 11.4.2)

An analysis modelling all sectors as integral parts of the overall economy and allowing for interlinkages across sectors.

Porter Hypothesis (Section 11.4.2)

A hypothesis suggesting that environmental policies can stimulate innovation and create long-term competitive advantage in economic sectors.

Rebound Effect (Section 11.4.2)

Cost-effective investments in energy efficiency allow us to set aside income that can be subsequently spent in alternative energy-intensive sectors (hence with minimal improvements in overall energy use).

Sustainability Standard (Section 11.4.2)

A target identified as consistent with the overall goal of environmental sustainability.

Benefits Transfer (Section 11.4.3.2)

A method that estimates economic values by transferring existing benefit estimates from studies already completed for another location or issue.

Contingent Valuation (Section 11.4.3.2)

A technique assigning monetary values to environmental assets using questions about hypothetical markets.

Option Values (Section 11.4.3.2)

Values derived from the potential use of the environment.

Cost-benefit analysis (CBA) (Section 11.4.3)

A model used in environmental decision-making that assumes that all monetised costs and benefits of an option need to be taken into account.

discount rate + monetised benefits of a policy

Environmental Sustainability (Section 11.3.4.3)

The maintenance of important environmental functions into the indefinite future.

Pure Rate of Time Preference (Section 11.4.3.3)

The part of the discount rate that relates to the way current generations value the welfare of future generation, as well as the inherent impatience in preferring current consumption over future

consumption.

Risk Aversion (Section 11.4.3.3)

The psychological aversion to uncertainty, which often translates into placing higher weights on situations of potentially large costs than on those of moderate costs.

Sentimentalism (Section 11.4.3.3) :

A philosophical approach that stresses the need to achieve harmony between humans and nature.

Stern Review (Section 11.4.3)

A cost-benefit analysis of the economics of climate change.

Time Discounting (Section 11.4.3.3)

The phenomenon that a desired result in the future is perceived as less valuable compared to the same result now.

Multi-Criteria Mapping (Section 11.5)

A technique that provides a quantitative map of the environmental issues in question and ranks different policy options according to priorities attached to various criteria derived from different perspectives on these issues.

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Principles of Environmental Sciences

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Environment - Economy interaction

28 important questions on Environment - Economy interaction

Depletion (Section 11.3.3.2)

Environmental Degradation (Section 11.3.3.2)

Maintenance Costs (Section 11.3.3.2)

Sustainability Gap (Section 11.3.4.3)

Cost-effectiveness model (Section 11.4.1)

Cost-oblivious model (Section 11.4.1)

Cost-sensitive model (Section 11.4.1)

Educative Argument (Section 11.4.1)

Ethical Argument (Section 11.4.1)

Survival Argument (Section 11.4.1)

Utilitarianism (Section 11.4.1)

Cost Reduction Curve (Section 11.4.2)

Environmental Functions (Section 11.4.2)

General Equilibrium Analysis (Section 11.4.2)

Porter Hypothesis (Section 11.4.2)

Rebound Effect (Section 11.4.2)

Sustainability Standard (Section 11.4.2)

Benefits Transfer (Section 11.4.3.2)

Contingent Valuation (Section 11.4.3.2)

Option Values (Section 11.4.3.2)

Cost-benefit analysis (CBA) (Section 11.4.3)

Environmental Sustainability (Section 11.3.4.3)

Pure Rate of Time Preference (Section 11.4.3.3)

Risk Aversion (Section 11.4.3.3)

Sentimentalism (Section 11.4.3.3) :

Stern Review (Section 11.4.3)

Time Discounting (Section 11.4.3.3)

Multi-Criteria Mapping (Section 11.5)

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