Vol. 5 (2018) No. 4

Financial incentives regarding the regulation of environmental issues

Years ago, I bought a book titled What Money Can’t Buy by Michael J. Sandel. Reading it made me do extra research into lots of areas, mentioned in the book. When you read news related to the Himalayas, you get to know whether the expedition attempt was successful, how many people were involved in the climbing expedition, what kind of equipment they used and how much time they spent on the mountain. But have you ever wondered what happens with the litter they left behind? Or have you ever heard about voluntary carbon offsets regarding your flights? The warning signs of the changes in our environment are really coming to the fore. A lot of these have been caused by pollution. What is the distinction between a fine and a fee when it comes to the regulations of it? How does pollution permit work in reality? I examine how these permits have changed and how putting a price on something that is harmful for the environment can cause a shift in the attitude of people. What is the moral attitude that is required for obtaining more results in environmental protection? I give a list of the small deeds by an average person that can make a change in our environment. Last, but not least, for companies what are the advantages of becoming carbon neutral? The aim of the paper is to make us more aware of the ecological consequences of our personal decisions and present some ways to get involved in reducing our individual emissions.


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