In: Economics
3. Last year the Rainforest Conservation Society (a Canadian environmental group) purchased the commercial hunting rights to an area of 7,700 square miles in British Columbia. The group’s plan is to ban hunting in this area. While this type of bargaining has been recognized for years as a potential solution to protect wildlife, why has it not been implemented very often?
4. Certain environmental laws prohibit EPA from considering the costs of meeting various standards when the levels of the standards are set. Is this a good example of “putting first things first” or simply an unjustifiable waste of resources? Why?
3. There's been a committed $1.3 billion in 2018 budget of Canadian government to protect land and water in Canada over the coming five years of span. Henceforth additional $1300 million will be invested in order to protect the species at risk, to increase park management, to increase and establish combined network of conservation areas to tie up with other governments, etc. Why it's not been implemented very often is because of budgetary crisis of individual states and other issues of the society where funding required in bulk.
4. EPA(Environmental Protection Agency) was created to protect human surrounding and their well-being by various enactment passed by the Congress. We cannot say that it's simply an unjustifiable waste of resources as this would definitely take time to realise the benefits. But the thing is cost estimates are exceeding the benefits and when this will be standardised, the benefits will be drastically improved.
E.g: Carbon emission charges will increase fuel efficiency and decrease the amount of emissions into the air improving quality of air and others which is established by EPA which is eventually taking its action in a positive way.