Product differentiationIn economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as from a firm's other products. The concept was proposed by Edward Chamberlin in his 1933 book, The Theory of Monopolistic Competition. Firms have different resource endowments that enable them to construct specific competitive advantages over competitors.
Sustainable energyEnergy is sustainable if it "meets the needs of the present without compromising the ability of future generations to meet their own needs." Most definitions of sustainable energy include considerations of environmental aspects such as greenhouse gas emissions and social and economic aspects such as energy poverty. Renewable energy sources such as wind, hydroelectric power, solar, and geothermal energy are generally far more sustainable than fossil fuel sources.
Efficient energy useEfficient energy use, sometimes simply called energy efficiency, is the process of reducing the amount of energy required to provide products and services. For example, insulating a building allows it to use less heating and cooling energy to achieve and maintain a thermal comfort. Installing light-emitting diode bulbs, fluorescent lighting, or natural skylight windows reduces the amount of energy required to attain the same level of illumination compared to using traditional incandescent light bulbs.
Carbon sequestrationCarbon sequestration (or carbon storage) is the process of storing carbon in a carbon pool. Carbon sequestration is a naturally occurring process but it can also be enhanced or achieved with technology, for example within carbon capture and storage projects. There are two main types of carbon sequestration: geologic and biologic (also called biosequestration). Carbon dioxide (CO2) is naturally captured from the atmosphere through biological, chemical, and physical processes.
Fossil fuel phase-outFossil fuel phase-out is the gradual reduction of the use and production of fossil fuels to zero, to reduce deaths and illness from air pollution, limit climate change, and strengthen energy independence. It is part of the ongoing renewable energy transition. Although many countries are shutting down coal-fired power stations, electricity generation is not moving off coal fast enough to meet climate goals. Many countries have set dates to stop selling petrol and diesel cars and trucks, but a timetable to stop burning fossil gas has not yet been agreed.
Black carbonChemically, black carbon (BC) is a component of fine particulate matter (PM ≤ 2.5 μm in aerodynamic diameter). Black carbon consists of pure carbon in several linked forms. It is formed through the incomplete combustion of fossil fuels, biofuel, and biomass, and is one of the main types of particle in both anthropogenic and naturally occurring soot. Black carbon causes human morbidity and premature mortality. Because of these human health impacts, many countries have worked to reduce their emissions, making it an easy pollutant to abate in anthropogenic sources.
EnergiewendeThe Energiewende (ʔɛnɐˈɡiːˌvɛndə) is the ongoing transition by Germany to a low carbon, environmentally sound, reliable, and affordable energy supply. The new system intends to rely heavily on renewable energy (particularly wind, photovoltaics, and hydroelectricity), energy efficiency, and energy demand management. The last nuclear power plants were shut down in 2023; all existing coal-fired generation will be retired by 2038.
Carbon-neutral fuelCarbon-neutral fuel is fuel which produces no net-greenhouse gas emissions or carbon footprint. In practice, this usually means fuels that are made using carbon dioxide (CO2) as a feedstock. Proposed carbon-neutral fuels can broadly be grouped into synthetic fuels, which are made by chemically hydrogenating carbon dioxide, and biofuels, which are produced using natural CO2-consuming processes like photosynthesis. The carbon dioxide used to make synthetic fuels may be directly captured from the air, recycled from power plant flue exhaust gas or derived from carbonic acid in seawater.
Balance of paymentsIn international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world. These financial transactions are made by individuals, firms and government bodies to compare receipts and payments arising out of trade of goods and services.
Carbon nanotubeA carbon nanotube (CNT) is a tube made of carbon with a diameter in the nanometer range (nanoscale). They are one of the allotropes of carbon. Single-walled carbon nanotubes (SWCNTs) have diameters around 0.5–2.0 nanometers, about 100,000 times smaller than the width of a human hair. They can be idealized as cutouts from a two-dimensional graphene sheet rolled up to form a hollow cylinder. Multi-walled carbon nanotubes (MWCNTs) consist of nested single-wall carbon nanotubes in a nested, tube-in-tube structure.
