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Week 12 Sustainable development and Management (II) (Introductory…
Week 12 Sustainable development and Management (II)
Life cycle Analysis(LCA)
To evaluate the environmental application of products.
Application of LCA
Public sector
To help create product statements
Private sector
To compare alternative products, processes & activities
Basic terminology
Commons- resources owned publicly with access for public use.
Externality- indirect cost
Direct cost- cost born by producer and is passed directly onto user
Ecological economics- value of natural services into price calculations.
Introductory Environmental Economics
Basic Terminology
Opportunity cost
Risk Benefit Analysis
Cost of pollution
Public service function
Green consumerism
Optimal level of pollution
Kyoto Protocol
To clean development mechanisms & joint implementation.
Emission trading
Removal unit (RMU)
Emission reduction unit (ERU)
Certified emission reduction (CER)
Clean development mechanism
Allows a country to implement an emission-reduction project in developing countries
Joint Implementation
Provide additional reduction in emission by sources.