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Environmental Economy - Essay Example

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Some oil companies have decided to participate in debates that aim at addressing climate change and join their counterparts in the other areas such as the activists,…
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Environmental Economy
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Environmental Economy Climate change is an issue that is raising a lot of concern all over the world especially to environmentalists. Some oil companies have decided to participate in debates that aim at addressing climate change and join their counterparts in the other areas such as the activists, churches, and governments. The global summits will take place in Paris at the end of the year with the goal of limiting the warming caused by human activities. Global warming according to reports should be limited to 2 degrees Celsius, which can be achieved only by reducing the usage of carbon fuels. The Catholic Church, through its top leader, the Pope will also participate in the debate and give its stand on the regarding global warming (Rocca n.p). The other participants will be shareholders of various companies to address issues concerning carbon emissions through its reduction. Many big investors are now taking global warming with a lot of seriousness and considerations. The oil mining and coal mining companies will set rules that give a limit of the emissions while putting a consideration of keeping the cost of oil and natural gas low to avoid creating low demand. Change in behavior has encouraged the executives of big companies to support climate change and are now raising the issue unlike before.
Environmental and natural economics deals with the principles of economics with respect to the management of the environment and natural resources and the way they are affected by pollution. The article relates to economics in various ways since economics can explain on ways of shifting towards the use of low carbon fuels at low cost. Policy intervention, especially on behavioural economics, is vital for environmental conservation, which the article aims at achieving. Environmental conservation and reduction of global warming requires a lot of money to implement the policies, but the benefits are desirable. Various economic outcomes arise from the environmental policies that tend to address carbon emissions such as high productivity, innovation stimulation, the creation of employment, and the improvement in the balance of trade. Controlling the use of the fossil fuels is essential for reducing global warming and environmental conservation.
The article should have addressed the importance of phasing out all the environmentally harmful subsidies and encouragement of good practices to help in minimizing the usage of carbon fuels. The private sector can help a lot in lowering global warming as most of the emissions come from private investments and companies. The article is defining the role of the private companies in fighting climate change by focusing on the conference aiming at reducing global warming. Since the conference has several representatives such as the church, the companies’ executives, and government institutions, a lot will be addressed.
The meeting will offer a collection of experience from various parties and countries to give their views relating to environmental conservation. The article is important as it gives the importance of environmental conservation and management by reducing amount of carbon emissions into the atmosphere. Since many companies will take part in the discussion especially the oil companies, it will be possible to implement the policies that will help in environmental protection and development of the economy. The debate is a great achievement for the environmentalists and will help in setting up regulations, which will be accepted by all the stakeholders including the church.
Works Cited
Rocca, Francis X, and Bill Spindle. Oil Companies Look To Join Climate Debate. The Wall Street Journal 2015. Web. 3 June 2015. Read More
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