Environmental and Sustainable Development

Flashcards created to review key concepts in Environmental and Sustainable Development.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Common Pool Resources (CPRs)

Resources that are difficult to exclude users from and are rival in consumption, such as fisheries, forests, and water bodies.

Tragedy of the Commons

A situation where individuals acting in their own self-interest deplete or spoil shared resources, leading to negative consequences for the whole community.

Negative Externality

A cost suffered by a third party as a result of an economic transaction; for example, pollution from a factory affects the health of nearby residents.

Positive Externality

A benefit received by a third party not directly involved in an economic transaction; for instance, a well-educated population leads to a more informed society.

Market Failure

A situation where the allocation of goods and services by a free market is not efficient, leading to a loss of economic value.

Public Goods

Goods that are non-excludable and non-rivalrous, such that individuals cannot be effectively excluded from using them, and use by one individual does not reduce availability to others.

Free Rider Problem

A situation where individuals benefit from resources or services without paying for them, leading to underproduction of those goods.

Bio-economy

An economy that utilizes renewable biological resources to produce sustainable products and services.

Environmental Sustainability

The responsibility to conserve natural resources and protect global ecosystems to support health and wellbeing, now and in the future.

Circular Economy

An economic model that emphasizes resource efficiency, waste reduction, and the continual use of resources through recycling and reuse.

Command-and-Control Policies

Regulatory mandates that set specific limits or requirements to control pollution or resource use.

Corrective Taxes

Taxes imposed on activities that generate negative externalities, designed to internalize the social cost of those activities.

Renewable Resources

Resources that can be replenished naturally over time, such as solar energy, wind energy, and biomass.

Non-Renewable Resources

Resources that exist in finite amounts and cannot be replenished in a short time frame, such as fossil fuels and minerals.

Externality

An economic side effect or consequence of an activity that affects other parties without being reflected in market prices.

Public Policy

A deliberate system of principles to guide decisions and achieve rational outcomes, including regulations for managing resources.

Urban Sustainability

The idea of creating cities that are environmentally friendly, economically viable, and socially inclusive.

Socio-economic Dimensions

Factors that combine social and economic aspects, impacting development and sustainability.

Biodiversity

The variety of life in the world or in a particular habitat, crucial for ecosystem stability.

Ecosystem Services

The benefits provided by ecosystems, including clean air and water, pollination of plants, and climate regulation.

Food Security

A condition where all people have physical, social, and economic access to sufficient, safe, and nutritious food.

Energy Security

The association between national security and the availability of natural resources for energy production.

Water Security

The capacity of a population to safeguard sustainable access to adequate quantities of acceptable quality water for consumption and production.