Lecture 11: Recent Topics in Environmental Economics (II)

This flashcard set covers the key vocabulary and concepts from Lecture 11 on recent topics in environmental economics, specifically focusing on planetary boundaries, biodiversity loss, climate change, and international environmental agreements.

Planetary Boundary (PB) concept

A framework aiming to define the environmental limits within which humanity can safely operate by identifying levels of anthropogenic perturbations that maintain a "safe operating space" for global societal development.

Safe Operating Space

The identified levels of anthropogenic perturbations below which the risk of destabilization of the Earth System is likely to remain low.

Doughnut Economics

A model proposed by Raworth (2012) that combines upper environmental ceilings (planetary boundaries) with minimum social floors (food, health, education) to fulfill human rights and allow for decent living conditions.

Core Planetary Boundaries

The two planetary boundaries, climate change and biosphere integrity (biodiversity), recognized as fundamental for the Earth System by Steffen et al. (2015).

Biosphere Integrity

A core boundary that regulates material and energy flows in the Earth System and increases its resilience to abrupt and gradual change.

Biological Diversity (Rio CBD, 1992)

The variability among living organisms from all sources, including terrestrial, marine, and other aquatic ecosystems; this includes diversity within species, between species, and of ecosystems.

Genetic Biodiversity

The variety and sum of codified information contained in the genes of micro and macro-organisms.

Species Biodiversity

The variety among species in terms of their uniqueness and endemicity to certain ecosystems.

Ecosystem Biodiversity

The variety of habitats, biotic communities, and ecological processes within the environment.

Biotic Integrity

The abundance of naturally-present species, which has declined by an average of $23\%$ in terrestrial communities.

Species Extinction Rate

The current rate at which species are declining, which humans have increased by as much as $1,000$ times over historical background rates.

Obligatory Scavengers

Animals, such as vultures, that mostly eat dead animals as a food source, playing a critical hygienic role by reducing the risk of diseases spreading from carcasses.

Diclofenac

A generic drug whose veterinary use led to a mortality shock in vultures, causing a negative shock to sanitation that increased human mortality by over $4\%$.

Intergovernmental Panel on Climate Change (IPCC)

A United Nations body established by UNEP and WMO in $1988$ dedicated to assessing the scientific evidence on climate change, including impacts, adaptation, and mitigation.

Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)

An intergovernmental body established in $2012$ to strengthen the science-policy interface for the conservation and sustainable use of biodiversity and long-term human well-being.

Climate Resilient Development

An approach towards development that integrates adaptation, mitigation, and sustainability while coupling climate, ecosystems, and human society.

International Environmental Agreements (IEAs)

Sign treaties, negotiated and ratified by nation-states, intended to be legally binding for the purpose of managing or preventing human impacts on natural resources and transboundary environmental issues.

Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC)

A principle from the $1992$ UN convention stating that while all countries share responsibility for protecting the global environment, their specific responsibilities and actions should differ based on their historical contributions and financial or technological resources.

Montreal Protocol

A $1987$ international environmental agreement focused on the protection of the Ozone layer.

Paris Agreement

A $2015$ international agreement focused on addressing climate change.

Ramsar Convention

A $1971$ international agreement dedicated to the protection and sustainable use of wetlands.

Basal Convention on Plastic Wastes

A $2019$ update to the Basel Convention specifically targeting the regulation of plastic waste.