How environmental economics can solve problem of climate change



environmental economies is healthy environment

Environmental economics is an area of economics that studies the financial impact of environmental policies. Environmental economists perform studies to determine the theoretical or empirical effects of environmental policies on the economy.

Explanation: how does economy relate to environment

Environmental economics is an area of economics dealing with the relationship between the economy and the environment. Environmental economists study the economics of natural resources from both sides - their extraction and use, and the waste products returned to the environment.



for Economists they have argued that putting a “price” on carbon, so that polluters are forced to take into account the negative effects of their harmful emissions, must be a core element of an economically efficient strategy to curb these emissions.

However, the pricing of carbon emissions is by no means an easy or straightforward undertaking. The approaches to such pricing are numerous, complex and competing, making it particularly challenging for policymakers, many with only a layperson's understanding, to decide on an optimal approach.

The stakes are huge. Estimates suggest that the cost savings from an economically efficient policy intervention could be as high $1 trillion a year globally.

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