Chapter 21.1, economics and international cooperation

7 million people on earth, use more resources, live longer

Sustainability – when humans use resources in a way that we can survive forever

Must take into account economics, political science, and environmental science

International development and Cooperation

Globalization – environmental, social, economic conditions cross borders

People and countries debate about how to deal with environmental problems, population growth, resource use and pollution

The World Conservation Union (1948) – sustainable development

Earth Summit (1992) – Agenda 21, plan to address many environmental problems

World summit on Sustainable Development (2002)

Intergovernmental Panel on Climate Change (1988) – climate change

Montreal Protocol on substances that deplete the ozone layer (1987)

Kyoto Protocol on Climate Change (1997)

US did not sign because costs a lot and requires developed countries to reduce their production of fossil fuels but not developing countries

MARPOL – marine pollution, regulates dumping waste and oil near shore. (1973)

CITES – Convention on International Trade in Endangered Species (1973)

Law of the Sea (1982) designates deep sea resources as “the common heritage of mankind”

Economics and the Environment

Economics – the study of the choices people make as they use and distribute limited resources.

Markets – self-contained economic system

value – how much something is worth, benefit of a product or service

economic growth – increase in the flow of money and products in a market

Economic systems may not take into account external factors that do not have a direct or obvious economic value, like wildlife and pollution

Environmental problems seen as market failures because the market does not reflect its true price

Regulation and Economic incentives

Fines and jail

Paying for actions that benefit society, rebates, low-interest loans for those that build solar homes

Charging or taxing those that hurt the society, pollution tax

To link economic decisions with environmental effects

Private Efforts – businesses and private organizations

Recycle waste, save cost and public image

Research and environmental management plan

Nature Conservancy – nonprofit organization, collects donation of money and land to create preserves