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Environmental Pricing Reform
Environmental pricing reform (EPR) or Ecological fiscal reform (EFR) is a fiscal policy of adjusting market prices to account for environmental costs and benefits; this is accomplished by the utilization of any forms of taxation or subsidy to incentivize or disincentivize practices with environmental impacts. An externality (a type of market failure) exists where a market price omits environmental costs and/or benefits. In such a situation, rational (self-interested) economic decisions can lead to environmental harm, as well as to economic distortions and inefficiencies. Environmental pricing reform can be economy-wide, or more focused (e.g. specific to a sector (such as electric power generation or mining) or a particular environmental issue (such as climate change). A " market-based instrument" or "economic instrument for environmental protection" is an individual instance of Environmental Pricing Reform. Examples include green tax-shifting ( ecotaxation), tradeable pollution pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externality
In economics, an externality is an Indirect costs, indirect cost (external cost) or indirect benefit (external benefit) to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer consumption. Air pollution from motor vehicles is one example. The Air pollution#Health effects, cost of air pollution to society is not paid by either the producers or users of motorized transport. Water pollution from mills and factories are another example. All (water) consumers are made worse off by pollution but are not compensated by the market for this damage. The concept of externality was first developed by Alfred Marshall in the 1890s and achieved broader attention in the works of economist Arthur Cecil Pigou, Arthur Pigou in the 1920s. The prototypical example of a negative externality is environmental pollution. Pigou argued that a tax, equal to the m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Failure
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value.Paul Krugman and Robin Wells Krugman, Robin Wells (2006). ''Economics'', New York, Worth Publishers. The first known use of the term by economists was in 1958,Francis M. Bator (1958). "The Anatomy of Market Failure," ''Quarterly Journal of Economics'', 72(3) pp351–379(press +). but the concept has been traced back to the Victorian writers John Stuart Mill and Henry Sidgwick.Steven G. Medema (2007). "The Hesitant Hand: Mill, Sidgwick, and the Evolution of the Theory of Market Failure," ''History of Political Economy'', 39(3)pp. 331��358. 200Online Working Paper. Market failures are often associated with public goods, time-inconsistent preferences, Information asymmetry, information asymmetries, Market structure, failures of competition, principal–agent problems, externalities,Jean-Jacques L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electric Power Generation
Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its storage, using for example, the pumped-storage method. Consumable electricity is not freely available in nature, so it must be "produced", transforming other forms of energy to electricity. Production is carried out in power stations, also called "power plants". Electricity is most often generated at a power plant by electromechanical generators, primarily driven by heat engines fueled by combustion or nuclear fission, but also by other means such as the kinetic energy of flowing water and wind. Other energy sources include solar photovoltaics and geothermal power. There are exotic and speculative methods to recover energy, such as proposed fusion reactor designs which aim to directly extract energy from intense magnetic fields generated by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mining
Mining is the Resource extraction, extraction of valuable geological materials and minerals from the surface of the Earth. Mining is required to obtain most materials that cannot be grown through agriculture, agricultural processes, or feasibly created Chemical synthesis, artificially in a laboratory or factory. Ores recovered by mining include Metal#Extraction, metals, coal, oil shale, gemstones, limestone, chalk mining, chalk, dimension stone, rock salt, potash, gravel, and clay. The ore must be a rock or mineral that contains valuable constituent, can be extracted or mined and sold for profit. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even fossil water, water. Modern mining processes involve prospecting for ore bodies, analysis of the profit potential of a proposed mine, extraction of the desired materials, and final mine reclamation, reclamation or restoration of the land after the mine is closed. Mining ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Issue
Environmental issues are disruptions in the usual function of ecosystems. Further, these issues can be caused by humans (human impact on the environment) or they can be natural. These issues are considered serious when the ecosystem cannot recover in the present situation, and catastrophic if the ecosystem is projected to certainly collapse. Environmental protection is the practice of protecting the natural environment on the individual, organizational or governmental levels, for the benefit of both the environment and humans. Environmentalism is a social movement, social and environmental movement that addresses environmental issues through advocacy, legislation education, and activism. Environment destruction caused by humans is a global, ongoing problem. Water pollution also cause problems to marine life. Some scholars believe that the projected peak global population of roughly 9-10 billion people could live sustainably within the earth's ecosystems if humans worked to live ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climate Change
Present-day climate change includes both global warming—the ongoing increase in Global surface temperature, global average temperature—and its wider effects on Earth's climate system. Climate variability and change, Climate change in a broader sense also includes previous long-term changes to Earth's climate. The current rise in global temperatures is Scientific consensus on climate change, driven by human activities, especially fossil fuel burning since the Industrial Revolution. Fossil fuel use, Deforestation and climate change, deforestation, and some Greenhouse gas emissions from agriculture, agricultural and Environmental impact of concrete, industrial practices release greenhouse gases. These gases greenhouse effect, absorb some of the heat that the Earth Thermal radiation, radiates after it warms from sunlight, warming the lower atmosphere. Carbon dioxide, the primary gas driving global warming, Carbon dioxide in Earth's atmosphere, has increased in concentratio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market-based Instruments
In environmental law and policy, market-based instruments (MBIs) are policy instruments that use markets, price, and other economic variables to provide incentives for polluters to reduce or eliminate negative environmental externalities. MBIs seek to address the market failure of externalities (such as pollution) by incorporating the external cost of production or consumption activities through taxes or charges on processes or products, or by creating property rights and facilitating the establishment of a proxy market for the use of environmental services. Market-based instruments are also referred to as economic instruments, price-based instruments, new environmental policy instruments (NEPIs) or new instruments of environmental policy. Examples include environmentally related taxes, charges and subsidies, emissions trading and other tradeable permit systems, deposit-refund systems, environmental labeling laws, licenses, and economic property rights. For instance, the Europe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ecotax
An environmental tax, ecotax (short for ecological taxation), or green tax is a tax levied on activities which are considered to be harmful to the environment and is intended to promote environmentally friendly alternatives via economic incentives. One notable example is a carbon tax. Such a policy can complement or avert the need for regulatory ( command and control) approaches. Often, an ecotax policy proposal may attempt to maintain overall tax revenue by proportionately reducing other taxes (e.g. taxes on wages and income or property taxes); such proposals are known as a green tax shift towards ecological taxation. Ecotaxes address the failure of free markets to consider environmental impacts. Ecotaxes are examples of Pigouvian taxes, which are taxes on goods whose production or consumption creates external costs or externalities. An example might be philosopher Thomas Pogge's proposed Global Resources Dividend. Categories of Environmental Taxes The term, environmenta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Accounting
Environmental accounting is a subset of accounting proper, its target being to incorporate both economic and environmental information. It can be conducted at the corporate level or at the level of a national economy through the System of Integrated Environmental and Economic Accounting, a satellite system to the National Accounts of Countries (among other things, the National Accounts produce the estimates of gross domestic product otherwise known as GDP). Environmental accounting is a field that identifies resource use, measures and communicates costs of a company's or national economic impact on the environment. Costs include costs to clean up or remediate contaminated sites, environmental fines, penalties and taxes, purchase of pollution prevention technologies and waste management costs. An environmental accounting system consists of environmentally differentiated conventional accounting and ecological accounting. Environmentally differentiated accounting measures effects o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Economics
Environmental economics is a sub-field of economics concerned with environmental issues. It has become a widely studied subject due to growing environmental concerns in the twenty-first century. Environmental economics "undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world. Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming." Environmental Versus Ecological Economics Environmental economics is distinguished from ecological economics in that ecological economics emphasizes the economy as a subsystem of the ecosystem with its focus upon preserving natural capital. While environmental economics focuses on human preferences, by trying to balance protecting natural resources with people's needs for products and services. Due to these differences it can be seen that ecologi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Enterprise
An environmental enterprise is an environmentally friendly/compatible business. Specifically, an environmental enterprise is a business that produces value in the same manner which an ecosystem does, neither producing waste nor consuming unsustainable resources. In addition, an environmental enterprise rather finds alternative ways to produce one's products instead of taking advantage of animals for the sake of human profits. To be closer to the goal of being an environmentally friendly company, some environmental enterprises invest their money to develop or improve their technologies which are also environmentally friendly. In addition, environmental enterprises usually try to reduce global warming, so some companies use materials that are environmentally friendly to build their stores. They also set in place regulations that are environmentally friendly. All these efforts of the environmental enterprises can bring positive effects both for nature and people. The concept is roote ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
