Sustainability & the Low Carbon Economy

Increasing energy from sustainable sources and lowering carbon emissions will significantly alter the economy of many countries. But how will this take place?

In this module, you will study the carbon economy and how it is developing as a framework to address climate change issues. You will consider the economic constraints and disruptions that may be necessary to achieve publicly stated goals of sustainability. You will also consider the policy requirements associated with achieving a low carbon economy, the role of economic incentives, how incentives have been used in the past and what they have achieved.

Finally you will look at what economic instruments may be used, efficient carbon trading for example, and the difficulties they face in implementation. In all cases, you will draw the parallels between the challenges of achieving a low carbon economy with the more familiar challenges of managing an economy.

Topics covered include:

The concepts of sustainability and sustainable development
The challenge of climate change
What is meant by a low carbon economy?
The use of economic instruments at national and international levels
The policy-making and political frameworks necessary to achieve the low carbon economy
The role of technology
Behavioural change
International perspectives: unilateral and multilateral action
Roadmaps and scenarios.

By the end of this module you will have:

Understand the economic implications of climate change and what it may mean to the workings of economies at local, national and international levels
Have examples of the role that incentives and economic instruments play in achieving economic goals
Understand the complexity involved in effecting change in economic systems
Be able to relate the economic challenges of climate change to the actions companies must take and the opportunities they offer.