ENBUS102 Lecture Notes - Lecture 1: Sustainable Development, Environmental Science, Macroeconomics

• School: University of Waterloo
• Department: Environment and Business
• Course: ENBUS102
• Professor: Michael Wood

Document Summary

Environment: natural environment, social environment, surrounding condiions, the area in which something exists or lives. Oxford dicionary: the objects or the region surrounding anything. The condiions under which any person or thing lives or is developed; the sum-total of inluences which modify and determine the development of life or character". Miller and hacket (m & h): everything that afects a living organism (any unique form of life)". Environmental science: an interdisciplinary study that uses informaion from the physical sciences and social sciences to learn how the earth works, how we interact with the earth, and how to deal with environmental problems" (m & h) Evoluion of the noion of the environment: environment as resources, conservaion, polluion, sustainable development. Take into account ecological and social performance in addiion to inancial performance. Weak sustainability: keeping total net investment above zero, subsitutability of natural capital. Strong sustainability: natural capital is not subsitutable through other forms of capital.