[MUSIC] Hi. My name is Lena Neij. This course will focus on Green Economy, as one of the solutions, to the challenge of sustainability. So then, what is a Green Economy? The term Green Economy is not a new one. It first appeared in 1989 in the book Blueprint for a Green Economy. During the 1990s and most of the 2000s the concept of Green Economy was not widely used but it gained a new life after the financial crises of 2008 when many governments around the world needed to stop economic recession while also furthering environmental and climate protection. At that time, some international organizations, most notably UNEP, United Nations Environmental Program, proposed that financially supporting environment and climate activities could also help to stimulate economic growth. They brought this idea to the Rio+20 Global Summit in 2012. UNEP defined a Green Economy as one that generates increaseing prosperity while at the same time reducing our environmental impact. In essence, it is possible to combine the need for development, and at the same time respect the limit of the local, regional, and global environmental systems. This is, of course, a very general definition, which can be interpreted in a variety of different ways. There are more narrow interpretations of a Green Economy which can include proper pricing, also called Environmental Externalities. Externalities is the term for the costs which society has to bear because of degradation of ecosystems and environmental pollution. Some interpretations calls for adopting the Polluter Pays Principle. Which means that those companies and individuals who are responsible for environmental impacts should be made to bear their costs. Others call for financial investments in renewable energy, energy efficiency which help to both generate jobs and reduce greenhouse gas emissions. Wider interpretations of Green Economy assert that current levels of consumption and production in western societies are inherently unsustainable. And that very radical changes are required to save planetary ecosystems from a collapse. One of these ideas includes degrowth, which means deliberately reducing economic output in order to decrease pressure on the environment. There are several concepts which are related they're not equivalent to the idea of a Green Economy sustainable development is the most notable of these. This is the notion that meeting the needs of the present generation should not compromise the ability of future generations to meet their needs. Then there is Ecological Modernisation, the idea that clean, environmentally friendly industries can help to develop and modernize industries and sciences. Lastly, we have the concept of Green Jobs, that the environmental sector, and particular green energy, can significantly contribute to new employment opportunities. So we heard about the origin of the idea of the Green Economy, it's different interpretation, and some related terms. You will see in the lectures and the course readings, that there continues to be a lively debate about what a Green Economy actually is. And we encourage you to contribute with your ideas about this throughout the course. [MUSIC]