Environmental economics

1. Renewable energy is type of energy that is derived from a source that does not deteriorate in response to usage. Solar and wind energy are good examples of renewable energy. This type of energy is environmental friendly since it does not cause any harm to the environment unlike other forms of energy such as fossil fuels. The use of renewable energy is gaining prominence at local, regional and even international levels since it does not impact negatively to the environment. Both solar and wind energy sources are finite and they can be used for a lifetime. The major advantage of using these energy sources is that they are not dangerous to the environment.
2. The use of renewable energy is relevant to Canada since it is also negatively impacted by forces such as environmental degradation particularly global warming as a result of the actions of people. The government in Canada can formulate policies that are oriented towards promoting the use of renewable energy such as solar power to replace fossil fuels that are responsible for causing global warming. Such policies can also enlighten the people in Canada about the importance of protecting the environment through minimising the amount of carbon foot print emitted into the atmosphere.
3. There have been major strides taken both at regional and international level with regards to policy formulation towards the aspect of environmental protection. For instance, the European Union has taken some steps directed towards the protection of the environment. The Lisbon Treaty is a good example that shows the region’s commitment to promoting a safe environment for all. However, policy formulation with regards to environmental protection should be of international nature since geographical boundaries are of little significance in terms of addressing this global problem. There should be consensus among all the countries across the globe about the correct course of action that can be taken in order to address the environmental problems caused by the use of different forms of energy particularly fossil fuels.
4. From my own perspective, I would recommend that governments in different regions adopt policies that are oriented towards the use of renewable energy since it is friendly to the environment. Such policies should be adopted at international level.
I would also recommend that the government undertake campaigns that are meant to enlighten the people about the benefits of using renewable energy. Some people lack information about the advantages of using renewable energy and this will be a very effective strategy of positively changing the behaviour of the people towards engaging in practices that are not detrimental to the environment.
I would also recommend that governments must try to subsidize gadgets that are uses to convert solar energy into power that can be use for both domestic and commercial purposes. For instance, responsible governments must try to subsidise the prices of solar panels so that they can be affordable to many people. This will gradually lead to many people voluntarily switching to the use of renewable energy.