How Do Governments Stimulate Ecological Economics with Different Environmental Economics Strategies?

Humanity’s existence is impossible without natural resources. Of course, some of them are obviously limited like oil and gas, gold, diamonds, and so on. However, until the last century, nobody thought that we could face a deficit of drinking water, fertile soil, and fresh air. 

This is why one of the main governmental purposes in many countries became to provide people with ecological sustainability, protecting nature from negative anthropogenic impact, secure environment, and continue production with no harm to nature. It became easier with providing ecological services and their development together with technological development.

The “economics social science” has been significantly changed with the exploration of new approaches that are directed not only on the allocation of wealth but on renewable natural resources and production that doesn’t exhaust the environment. The technology economics definition has been introduced as the key force in the fighting of environmental degradation, and the specific local and global strategies have been launched and shared for the common good. As the result, the importance of ecological economics led to the number of laws and regulations combined in environmental economics strategies. Let’s try to distinguish between numerous similar terms and understand how does it work in real life.

Ecological Economics: Definitions and Drivers 

When the necessity of cherishing nature and the environment became obvious, the following concerns appeared:

  • which actions to perform on the way of ecological sustainability?
  • how to force people and organizations to follow these actions across the world?

Thus, the “economics social science” analysts started to learn, explore, and compare positive and negative effects of the introduction of specific environmental laws and regulations, their costs and benefits, allowing to make ecological services a usual part of any business model. The subject matter became wider and currently considers the following.

Ecological Economics Definition

Ecological economics defines all possible ways of the continuous growth and development for both economic and environmental wealth as two tightly connected components of social wealth. Fail to provide environmental protection and safety will lead to significant gaps in economics, as budgets will be directed to mitigate catastrophes effects and to the healthcare sphere instead of being invested in progress and wellness. Thus, the costs of environmental protection must be part of the planning of any activity and production together with respective measures.

Ecological Sustainability Definition

The complex measures are directed to reduce the negative effects brought to nature, the environment, and humans’ wealth and health by saving the soil productivity, water and air clarity, and ecosystem integrity.

Technology Economics Definition

When it comes to the modeling the technology changes aiming to create value most effectively and efficiently and adapt the business and market models to it by specific conventions, regulations, and laws, the technology economics definition suits the best. 

Ecological Services Definition

The services provided to nature in order to support its recreation and protect it from degradation are called ecological services. The examples are:

  • air and water purification;
  • recycling and waste decomposition;
  • generation and renewal of the soil;
  • supporting natural vegetation and crops pollination;
  • reducing air pollution;
  • greenhouse effect mitigation;
  • many others.

This is achieved as part of environmental economics strategies implemented by the majority of countries at the legislative level and applying the technologies.

Environmental Strategy Definition

The long-term strategy in part of reducing environmental risks and investing in the natural resources support and restoration, which is chosen by the entity (country) to comply with legislation and stakeholders’ expectations.

International Environmental Policies and Conventions

Another important trait of environmental economics is its impact which is not limited to the local country. In times of globalization, all countries should take measures to avoid ocean pollution, reduce the greenhouse effect, control waste decomposing, and so on. As the result, international environmental policies and conventions have been developed to join forces in the fight for a clean environment. The major of them are the following.

The Paris Agreement

Paris Agreement is effective from 2016 and for 196 parties. The main aim is to reduce global warming effects and achieve an average temperature of at least 1.5 degrees lower comparing to pre-industrial indicators. The focus is on reducing carbon release into the air together with other polluters. As an important step in frames of the Paris Agreement, several countries have already announced the refusal to use internal combustion engines. Japan and The UK plan to complete the replacement with electro cars in 2050 creating favorable financial conditions for purchasing and maintaining them. While the internal combustion engines ban seems to be a prescriptive measure the convenient conditions for the transitions make the approach rather market-based which will not cause any difficulties from the consumers’ side. Similar steps are ready to perform in France, Netherlands, Norway, India, Germany, and China. 

The National Guidance for Plastic Pollution Hotspotting and Shaping Action

Actually, the name of the initiative describes its purpose to stop ocean pollution with plastic. Many countries across the whole world have already approved the legislative documents, which forbid plastic use. The list of items that cannot be produced from plastic will be extended over time. For example, the Great Britain government forbids selling plastic stirrers, straws, cotton buds. Canadian government added to the list of forbidden plastic items plastic cups and containers and plans to extend the list in 2021 with plastic bags. The alternative items will be made of paper mostly.

The Bern Convention

This international agreement is aimed to protect wild animals and natural habitats became effective in 1979 and mostly acts in European countries. One of the decisions developed in frames of this convention is green bridges build near the autobahn. These bridges allow wild animals to safely cross the road and don’t get hit by a car. In spite of the convention, scope limited to European countries such bridges exist not only in Germany, New Zealand, and Belgium, but also in the USA, Canada, Singapore, and other countries. This market-based initiative encouraged by governments saves lives for thousands of animals in each country annually. 

Resume

Environmental strategies and initiatives regulated by international bodies and supported by governments of many countries are aimed to make substantial changes to the world making it safer and economically successful. Unfortunately, the implementation of the majority of them requires time and technologies, but the results provided today show that by working together we can protect nature from the negative effects.