Ch13- Global Environment Flashcards
Externalities
Costs or benefits for stakeholders other than the actor undertaking an action. When an externality exists, the decision-maker does not bear all costs or reap all the gains from his or her action.
Non-excludable Goods
Goods that, if available to be consumed by one actor, cannot be prevented from being consumed by other actors as well.
Nationally Determined Contribution (NDC)
The commitment each party to the Paris Agreement makes as to how much they will contribute to reducing the threat of global warming.
Common-Pool Resources
Goods that are available to everyone but such that one user’s consumption of the good reduces the amount available for others. Common-pool resources are rival but non-excludable.
Cap-&-Trade System
A system that sets limits on emissions, which are then lowered over time to reduce pollutants released into the atmosphere. Firms can sell “credits” when they emit less than their allocation or must buy from others when they emit more than their allocation.
Public Goods
Products that are non-excludable and non-rival in consumption, such as clean air or water.
Montreal Protocol
An international treaty, signed in 1987, designed to protect the ozone layer by phasing out the production of a number of CFCs and other chemical compounds.
Tragedy of the Commons
A problem that occurs when a resource is open to all, without limit. No one has an incentive to conserve because others would use the resource in the meantime, resulting in the degradation of the resource.
Vienna Convention
A framework convention adopted in 1985 to regulate activities, especially emissions of CFCs, that damage the ozone layer.
Paris Agreement
An agreement negotiated under the UNFCCC in 2015, signed by 197 countries, and entered into force in 2016. It was the first agreement to require commitments for the control of greenhouse gas emissions from all signatories.
Kyoto Protocol
An amendment to the UN Framework on Climate Change, adopted in 1997 and entered into force in 2005, that established specific targets for reducing emissions of carbon and five other greenhouse gases through 2020.
United Nations Framework Convention on Climate Change (UNFCCC)
An international agreement enacted in 1992, and entered into force in 1994, that provides an overall framework for intergovernmental efforts on climate change.
Nonrival Goods
Goods for which consumption by one actor does not diminish the quantity available for others.
Global Climate Change
Human-induced change in the environment, especially from the emissions of greenhouse gases, leading to higher temperatures around the globe.
The effectiveness of environmental agreements relies on:
a) Independent action by each participating country
b) Enforcement measures imposed by international institutions
c) Collaboration and cooperation between countries
d) Financial contributions from transnational advocacy networks
C