Chapter 13 Global enviroment

Tradgedy of the commons

a problem that occurs when a resource is open to all without limit. No one has incentive to conserve because others would use resources, leading to depletion and degradation. This concept illustrates the conflict between individual interests and the common good.

Public Good

Products that are noexcludeable and nonrivial in consumption such as air or water that are available to all individuals and where one person's use does not diminish another's ability to use them.

Common Pool resource

Goods that are avalible to everyone but such that one’s compsumption of good reduce amount for others and leads to potential overuse or depletion. Examples include fisheries, forests, and groundwater.

Kyoto Protocol

amendment to the UN framework convention on climate change aimed at reducing greenhouse gas emissions globally, established legally binding commitments for developed countries.

Montreal protocol

International treaty 1987 that is designed to protect the ozone layer by phasing out CFS

cap and trade system

set an overall limit on emissions and allows companies to buy and sell credits that are lowered each year, incentivizing reductions.

Naturally determined contributions

the committment by countries to reduce their greenhouse gas emissions in line with their national circumstances and capabilities, as part of the Paris Agreement.

externalities

Costs or benefits resulting from an actor’s decision that affect stakeholders other than that actor. When an externality exists, the decision maker does not bear all the costs or reap any benefits from the action. Create problems of bargaining or redistribution in which one side gains as a result of the other sides loss

global climate change

human induced change in the eniviroment from the emissions of greenhouse gasses that leads to rising temperatures around the global

five factors of cooperation

1.size of group 2. complexity and the magnitude of the problem 3.iteration group that interact repeatitively on others issues (linkage) will induce greater contributions 4.public good come bundled with private good for which actors are willing to pay

"race to the top" theory

refers to a situation where countries, states, or companies compete by raising standards (Countries compete to become global leaders in green technology)

race to the bottom theory

where actors lower standards to gain a competitive edge, in which countries, states, or companies reduce regulations or standards to attract investment or business.