User:NeomiSepulveda/final article

These are my recommendations for revision the article Environmental pricing reform


 * include fast fashion as an example of implementing environmental pricing reform.
 * include an "Environmental Impacts" section of pricing reform that includes fast fashion
 * included the environmental impacts of fast fashion
 * include what fast fashion prices reflect

Copied content from Environmental pricing reform; see that page's history for attribution.

Environmental pricing reform (EPR) is the process of adjusting market prices to include environmental costs and benefits.

An externality (a type of market failure) exists where a market price omits environmental costs and/or benefits. In such a situation, rational (self-interested) economic decisions can lead to environmental harm, as well as to economic distortions and inefficiencies.

Environmental pricing reform can be economy-wide, or more focused (e.g. specific to a sector (such as electric power generation or mining) or a particular environmental issue (such as climate change or Fast fashion). A "market-based instrument" or "economic instrument for environmental protection" is an individual instance of Environmental Pricing Reform. Examples include green tax-shifting (ecotaxation), tradeable pollution permits, the creation of markets for ecological services

A similar term, "ecological fiscal reform" differs in more narrowly dealing with fiscal (i.e. tax) policies as opposed to using non-fiscal regulations to achieve the government's environmental goals.

Fast fashion
'''Fast fashion is a sector of the fashion world that quickly replicates high-fashion designs with extremely cheap prices (see Fast fashion). It's environmental impacts have greatly hindered any sustainability efforts, while it relies on cheap manufacturing, frequent consumption and short-lived garment use. For each assortment, garment manufacturers have to source various types of fabrics and materials from different suppliers and get the garments ready for shipment. Costs are largely reduced by taking advantage of lower prices in markets in developing countries. Though fast fashion may be cheap, its prices don't reflect the environmental impact they cause. Pricing strategy used for fast fashion is reflective of the analysis of customers' willingness to pay. '''

