OpenNESS Glossary beginning with M
- Marginal Abatement Costs
The cost of reducing an incremental unit of an undesirable substance, such as a pollutant or carbon.
- Marine System
Marine waters from the low-water mark to the high seas that support marine capture fisheries, as well as Deepwater (>50 meters) habitats. Four sub-divisions (marine biomes) are recognized: the coastal boundary zone; trade-winds; westerlies; and, polar.
- Market Failure
- Market-Based Instruments
Mechanisms that create a market for ecosystem services in order to improve the efficiency in the way the service is used. The term is used for mechanisms that create new markets, but also for instruments such as taxes, subsidies, or regulations that affect existing markets.
The action of making the consequence of an impact less severe.
- Monetary Valuation
- Multi-Criteria Decision Analysis (MCDA)
Multi-Criteria Decision Analysis (MCDA) is a non-monetary valuation method for simultaneously embracing, combining, and structuring often incommensurable diversity: diversity of information (e.g. qualitative and quantitative data, as well as uncertainty), diversity of opinion (also among experts), diversity in actor perspectives (stakes), and diversity in assessment/decision-making criteria. MCDA also supports deliberation and helps to pave the way to decision making and communication about the decisions taken.
Linking several academic disciplines or professional specializations in an approach to a topic or problem; however, the disciplines retain their identity and perspective, unlike the situation with interdisciplinary approaches.