Midterm jeopardy Flashcards
What is the Compliance Era?
The first era of EB, started with Rachel Carson’s Silent Spring, and lead to a number of environmental regulations
What is the Bhopal disaster?
This was the worst industrial accident, it occured in 1984 and saw a death count of 3,787 people.
What is the eco-efficiency era?
This era saw the start of ‘doing more with less” and WIN-WIN strategies.
What is the future of Environment and Business (Business with an Impact)
Measuring the impact of business through environmental, social and sustainable values. Also looking into financing emissions and the shared value proposition.
What is Environmental Economics?
It is a sub-field of economics that studies the costs and benefits of environmental policies.
What is the Tragedy of the Commons?
When a common property resource is exploited beyond the ecosystem’s carrying capacity to support that resource.
What is an externality?
The market failure that exists when you attempt to value unvalued things.
What is Ecological Economics
Resilience is a concept most closely related with what school of economic thought.
What is a voluntary initiative or code?
Lets each firm define their own environmental performance standards.
What are government regulations or command-and-control?
Standards for emissions reductions are enforced under existing legal frameworks.
How do firms reduce the risk of future regulation by voluntary industrial standards?
When a company decides to achieve regulatory standards to avoid scrutiny, influence the regulation landscape for more competitive-friendly regulations, and takes on voluntary initiatives (such as carbon market).
What are government regulations or command-and-control?
Establishes clear, straight forward targets for emissions reductions
What is a stakeholder?
Have a fundamental impact on your organization’s performance, you know what you want from them, and the relationship is dynamic, meaning you want the relationship to grow.
What is the definition of the phrase sustainable development.
Meeting the needs of the present without compromising the ability of future generations to meet their own needs.
OR
Taking environmental, social, and economic aspects equally into account (triple bottom line).
What is the difference between weak and strong sustainability?
1) Keeping net total investment above zero
- Natural capital is substitutable, can be replaced
2) Natural Capital is not substitutable through other forms of capital.
