Please reply to two responses

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Business Finance

After reviewing the module resources, discuss how environmental policies impact the trade policies in the global market you selected for your final project. Also discuss the market’s environmental sustainability.

In your responses to peers, state whether you agree or disagree with their stance, and why or why not.Response 1

For my final project Ireland is my choice of market within the solar industry. Ireland participates in the free trade arrangements of the European Union (EU) and European Free Trade Association (EFTA), and is a member of the EU and World Trade Organization (WTO) (Export.gov, 2017). Ireland’s trade objectives are to be an attractive location for business investments, support overseas investors, exporters, buyers and tourists and maximize the contributions to Ireland’s economic development (Export.gov, 2017). Trade is an important driver of Ireland’s economy with a combined value of exports and imports equaling 217% of their GDP (The Heritage Foundation, 2018). Ireland is also the 6th most economically “free” country in the 2018 INDEX OF ECONOMIC FREEDOM, with a score of 80.4, an increase of 3.7 points, due to improved fiscal health, government spending, tax burden and labor freedom indicators (The Heritage Foundation, 2018). As a result, Ireland has increasingly enacted social issue policies affecting its environment and sustainability.

Energy is one of Ireland’s main industrial sectors and they are focusing on the development of renewable energy sources with ongoing public and private sector investments in wind, wave and solar energy (Department for International Trade, 2016). Ireland also has ambitious 2050-community development and planning initiatives that includes a reduction of carbon emissions and transition to renewables (National Planning Framework, NA). Along with their EU membership, the government and their citizens are committed to the Paris Agreement of reducing carbon emissions to mitigate the effects of climate change. As active members of the global community this is part of their efforts through global trade policies to encourage renewable technologies and sustainable industries in Ireland.

References

Department for International Trade. (2016, January). Gov.UK. Doing business in Ireland:

Ireland trade and export guide. Retrieved from:

Export.gov. (2017, January). Ireland – Trade Agreements. Retrieved from:

https://www.export.gov/article?id=Ireland-Trade-Ag…

National Planning Framework. (NA). Ireland 2040 Our Plan. Received from:

http://irishsolarenergy.org/news-docs/Ireland-2040-Our-Plan-Draft-

NPF%20(1).pdf

Smith, P. J. (2013, September). Global Trade Policy: Questions and Answers.

Retrieved from: https://bookshelf.vitalsource.com

The Heritage Foundation. (2018). 2018 INDEX OF ECONOMIC FREEDOM. Ireland.

Retrieved from: https://www.heritage.org/index/country/ireland

Response 2

The country of South Africa has had a long mining history that has taken a toll on the environmental aspect of the land. This along with agricultural practices and a non-existent inland water supply have led to multiple environmental issues in the region. Solid wastes are produced after gold is divided from its ore, and these materials are usually put into enormous dumpsites, while liquid waste is amassed in a pit. This waste contains radioactive uranium in trace amounts, which when inhaled, induces serious health conditions like lung cancer. Stream assessments around Johannesburg and Soweto have discovered that the water contains dangerous toxins like uranium, arsenic and cyanide. Land near these areas has also been made sterile for farming. Overgrazing of livestock after apartheid has only made matters worse.

Announced in November 2010, South Africa’s New Growth Path called for an economy that is more inclusive and environmentally sustainable. One of the plan’s priorities is to spur environmentally-friendly economic growth by expanding the creation of technologies for solar, wind and biofuels. In 2011, South Africa released the Green Economy Accord to enhance green partnerships within the private sector.

South Africa is still very much a developing nation, and multiple reports indicate the country still has a way to go until it truly realizes a clean future.

According to a recent report from the Organization for Economic Co-operation and Development (OECD), the global economic downturn, internal push for job creation and emissions commitments are driving South Africa’s continuing clean technology policies. (Smith, 2018)

Global Cleantech Innovation Index suggested South Africa and other below average countries must adapt to the growing demand for energy from renewable sources. The report also said South Africa should connect its clean tech start-up community and foster connections to clean technology hubs around the world. The report also suggested the South African government to reach out and become more involved in the global clean technology market. (Smith, 2018)

Smith, B. (2018). South Africa: Environmental Issues, Policies and Clean Technology. [online] AZoCleantech.com. Available at: https://www.azocleantech.com/article.aspx?ArticleID=561 [Accessed 28 Mar. 2018].