Environmental Economics Flashcards
In 1994, who was the leading seller of carpet tiles? And who was it led by?
Interface Carpet/ Ray Anderson
How many tons of landfill waste per day were created by making carpet?
6tons
What did carpet production create?
Air and water pollution
What epiphany did Ray have?
He can’t continue to consume more than the environment can renew.
Land needed to provide resources and assimilate/absorb waste
Ecological foot print
How is the ecological footprint of a population determined?
By size and the amount of resources used/person
What must re realize about our resources?
They come from nature.
If we are using our natural capital quicker than it’s being reproduced where will future income come from?
There won’t be any
What is a method Interface used to become more sustainable?
Bio mimicry, they replaced glue with lizard technology
What is biomimicry?
Replicate something that already occurs in nature
Between 1994-2006 what changes did Interfere make
Efficient heating, solar tubes, skylights, tac tile adhesive, recycling carpet.
What percentage did Interfaces fossil fuel and total energy decline by?
Energy = 43%.
Fossil fuel = 55%.
How much waste was diverted from landfills due to recycling carpet?
100,000 tons
What was Ray Anderson’s pathway to sustainability?
Eliminate waste
Benign emissions
Utilizing Renewable energy
Recycling
Efficient transportation
Sensitizing stakeholders
Redesigning commerce
Can not be used for something else?
Use value
Can be used in various ways?
Nonuse value
Resources used directly?
Direct use value
Resources used indirectly?
Indirect use value
Our future possible use?
Option value
Future generations possible use?
Bequest value
Right of existence?
Existence value
What percent of pharmaceutical drugs are derived from nature?
25%
Meet present needs without preventing future generations from meeting their needs is ?
sustainable development
Economic Discounting: Do we care more about the immediate benefits or do we give more weight to longer term benefits?
We care more about the immediate because the future is not promised.
A third paryy gets the benefits or consequences but has nothing to do with the initial transaction
Externalities
What happens when marketplace inefficiency occurs?
Market failure
What causes market failure?
Imperfect knowledge, environmental externalities
When prices that do not reflect the full cost of their transactions are generated?
Inefficienct transactions
How can ecological market failure happen?
Does not have defined property rights
Users exploit the resource
