Economic incentives for Sustainable Protection of the Environment

Sustainability of Real Estate
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Institutional Affiliation
Sustainability of Real Estate
Economic incentives for Sustainable Protection of the Environment
Economists have conclusively determined that environmental resources are usually abused since they are relatively free and underpriced. Rectifying this observation involves attaching some price or cost value on the environmental resource in question in order to ensure that it is used mindfully and sparingly. Virtually, every real estate company has some form of cost deficit of the resources used somewhere along its activity and property development line. For instance, a real estate development corporation might be discharging waste chemicals into a river, which in turn pollutes the river fisheries system downstream. This has a negative impact on the individuals who might be depending on fishing as their main economic activity, and yet the pollutant company in question is not held responsible in any way for this situation. Economic incentives seek to put a price on the decisions around the production and consumption process, which companies have so far given little attention to in regard to the consequences surrounding these processes (Beder, 2001). This exercise, in its entirety, seeks to provide a sustainable business behavioral system among the concerned parties, especially real estate development companies.
Economic incentives are about charging people a price for the actual use of the environment (Beder, 2001). This...