In: Economics
write short notes on the following
a) environmental identity I = PAT
b) sustainable development
Environmental Identity IPAT:
IPAT Equation describes the multiplicative contribution of population (P), affluence (A) and technology (T) to environmental impact (I). Environmental impact (I) may be expressed in terms of resource depletion or waste accumulation; population (P) refers to the size of the human population; affluence (A) refers to the level of consumption by that population; and technology (T) refers to the processes used to obtain resources and transform them into useful goods and wastes. The equation was initially used to stress the commitment of a developing worldwide populace on the earth, when total populace was generally 50% of what it is presently. It keeps on being utilized with reference to populace strategy. From a scale point of view, the IPAT condition does not help us to recognize economical breaking points with respect to either individual or composite ecological effects. It assists in our comprehension of the general factors that expansion or abatement ecological effect, however not the level of effect that surpasses feasible scale.
Sustainable Development:
Sustainability is development that satisfies the needs of the present without compromising the capacity of future generations, guaranteeing the balance between economic growth, care for the environment and social well-being. Sustainable development is a concept that appeared for the first time in 1987 with the publication of the Brundtland Report, warning of the negative environmental consequences of economic growth and globalization, which tried to find possible solutions to the problems caused by industrialization and population growth. Sustainability focuses on equal economic growth that generates wealth for all, without harming the environment. Investment and an equal distribution of the economic resources will strengthen the other pillars of sustainability for a complete development.