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Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More Information Cambridge University Press 978-0-521-71972-8 - Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More information SUSTAINABLE DEVELOPMENT IN PRACTICE Sustainomics Methodology and Applications This book provides a comprehensive, rigorous and practical analysis of sustainable development prospects today by applying the innovative sustainomics framework. Developed over the past 18 years by the eminent environmental scientist and develop- ment expert, Mohan Munasinghe, sustainomics shows us the first practical steps in making the transition from the risky business-as-usual scenario to a safe and sustainable future. Its main message is optimistic: although the problems are serious, an effective response can be mounted to make development more sustainable if it is initiated immediately. The book explains the key principles underlying sustainomics cogently, concisely and with a minimum of technical jargon, with mathematical and other details being provided in annexes. It illustrates the methodology with empirical case studies that are practical and policy-relevant over a wide range of time and geographic scales, countries, sectors, ecosystems and circumstances. The extensive bibliography is useful to researchers of specific issues within sustainable development. This book appeals to a wide audience, including students, researchers from many disciplines, policy analysts, public and private decision makers, and development practitioners. professor mohan munasinghe is co-winner of the 2007 Nobel Prize for Peace, as Vice Chair of the UN Intergovernmental Panel on Climate Change (IPCC-AR4). He is the Chairman of the Munasinghe Institute of Development (MIND), Sri Lanka, Director General of the Sustainable Consumption Institute (SCI), University of Manchester, UK, and Honorary Senior Advisor to the Sri Lankan Government. During 35 years of distinguished public service, he has served as Senior Energy Advisor to the President of Sri Lanka, Advisor to the United States Presidents Council on Environmental Quality, and Senior Advisor/Director at the World Bank. professor munasinghe has earned graduate degrees in engineering, physics and development economics from Cambridge University (UK), Massachusetts Institute of Technology (USA), and McGill University and Concordia University (Canada). He has also received several honorary doctorates (honoris causa). He is a Fellow of several internationally recognized Academies of Science and serves on the editorial board of 12 academic journals. He has authored 92 books and over 300 technical papers on economics, sustainable development, climate change, power, energy, water resources, transport, environment, disasters, and information technology. © Cambridge University Press www.cambridge.org Cambridge University Press 978-0-521-71972-8 - Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More information munasinghe institute for development (mind) series on growth and sustainable development Series Editor Mohan Munasinghe Chairman, Munasinghe Institute for Development, Sri Lanka Vice Chair, Intergovernmental Panel on Climate Change (IPCC), Switzerland Honorary Advisor to the Government, Sri Lanka Visiting Professor, United Nations University, Japan This series of volumes deals with the interaction between conventional economic growth and the more recent paradigm of sustainable development. A distinguished group of international experts drawn from a broad range of disciplines examine this nexus, and suggest ways for making development more sustainable in the future. The volumes cover both theory and practical applications at global, national and local levels: 1. The Sustainability of Long-term Growth: Socioeconomic and Ecological Perspectives, Mohan Munasinghe, Osvaldo Sunkel and Carlos de Miguel (Cheltenham: Edward Elgar, 2001). 2. Sustainable Energy in Developing Countries: Policy Analysis and Case Studies, Peter Meier and Mohan Munasinghe (Cheltenham: Edward Elgar, 2005). 3. Primer on Climate Change and Sustainable Development: Facts, Policy Analysis and Applications, Mohan Munasinghe and Rob Swart (Cambridge: Cambridge University Press, 2005). 4. Macroeconomic Policies for Sustainable Growth: Analytical Framework and Policy Studies of Brazil and Chile, Mohan Munasinghe, Raul O’Ryan, Ronaldo Seroa da Motta, Carlos de Miguel, Carlos Young, Sebastian Miller and Claudio Ferraz (Cheltenham: Edward Elgar, 2006). 5. Global Agenda for Sustainable Governance of Ecosystems: Lessons from the Millennium Ecosystems Assessment, Janet Ranganathan, Mohan Munasinghe and Frances Irwin (Cheltenham: Edward Elgar, 2007). © Cambridge University Press www.cambridge.org Cambridge University Press 978-0-521-71972-8 - Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More information SUSTAINABLE DEVELOPMENT IN PRACTICE Sustainomics Methodology and Applications Mohan Munasinghe Munasinghe Institute for Development (MIND), Sri Lanka Foreword by James Gustave Speth Munasinghe Institute for Development (MIND) Colombo, Sri Lanka • Montreal, Canada • Gaithersberg MD, USA Environment Munasinghe Institute for Development ‘making development more sustainable-MDMS’ M I N D Society Economy © Cambridge University Press www.cambridge.org Cambridge University Press 978-0-521-71972-8 - Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More information cambridge university press Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo, Delhi Cambridge University Press The Edinburgh Building, Cambridge CB2 8RU, UK Published in the United States of America by Cambridge University Press, New York www.cambridge.org Information on this title: www.cambridge.org/9780521895408 # M. Munasinghe 2009 This publication is in copyright. Subject to statutory exception and to the provisions of relevant collective licensing agreements, no reproduction of any part may take place without the written permission of Cambridge University Press. First published 2009 Printed in the United Kingdom at the University Press, Cambridge A catalogue record for this publication is available from the British Library Library of Congress Cataloguing in Publication data Munasinghe, Mohan, 1945– Sustainable development in practice : sustainomics methodology and applications / Mohan Munasinghe ; foreword by James Gustave Speth. p. cm. – (Munasinghe Institute for Development (MIND) Series on growth and sustainable development ; 6) ISBN 978-0-521-89540-8 1. Sustainable development – Economic aspects. 2. Sustainable development – Social aspects. 3. Sustainable development – Environmental aspects. I. Title. HC79.E5M8675 2009 338.9′27–dc22 2009004021 ISBN 978-0-521-89540-8 hardback ISBN 978-0-521-71972-8 paperback Cambridge University Press has no responsibility for the persistence or accuracy of URLs for external or third-party internet websites referred to in this publication, and does not guarantee that any content on such websites is, or will remain, accurate or appropriate. © Cambridge University Press www.cambridge.org Cambridge University Press 978-0-521-71972-8 - Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More information To my granddaughter Linara (Lena) and her progeny – in the fond hope that they will inherit a world that is more sustainable than ours © Cambridge University Press www.cambridge.org Cambridge University Press 978-0-521-71972-8 - Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More information Contents Foreword by James Gustave Speth page xi Preface xiii Part I Framework and fundamentals 1 Overview and summary 3 1.1 Outline of the book 4 1.2 Rationale and motivations 9 1.3 Brief history and summary of sustainomics 20 1.4 Millennium development prospects and worldwide status 25 2 Sustainomics framework 31 2.1 Basic concepts and principles 31 2.2 Key elements of the sustainable development triangle 40 2.3 Integration of economic, social and environmental elements 46 2.4 Tools and methods for integrated analysis and assessment 55 2.5 Restructuring development and growth for greater sustainability 64 3 Economics of the environment 72 3.1 Human activities and the environment 72 3.2 Conventional project evaluation 73 3.3 Measuring costs and benefits 77 3.4 Basic concepts for valuing environmental costs and benefits 82 3.5 Multicriteria analysis 89 3.6 Discount rate, risk and uncertainty 91 3.7 Economy-wide policies and the environment 96 3.8 Appendix: Estimating and using shadow prices 106 4 Ecological and social aspects 111 4.1 Conceptual framework linking ecological and socioeconomic systems 111 4.2 Property rights, governance and ecological–social linkages 118 4.3 Environmental and social assessment 128 vii © Cambridge University Press www.cambridge.org Cambridge University Press 978-0-521-71972-8 - Sustainable Development in Practice: Sustainomics Methodology and Applications Mohan Munasinghe Frontmatter More information viii Contents Part II Global and transnational applications 5 Global analytical applications 137 5.1 Climate change and sustainable development 137 5.2 Applying the sustainomics framework to climate change 140 5.3 Climate-change adaptation and mitigation 150 5.4 Global-level interactions between climate change and sustainable development 154 5.5 Greenhouse-gas-mitigation prospects
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