a) Explain the following Principles:i) intergenerational equity ii) Wastes hierarchyiii)improved valuation, pricing and incentive mechanismsiv)Precautionary principle

i) Intergenerational Equity: This principle refers to the concept that every generation holds the Earth in common with both their ancestors and descendants. Therefore, each generation has a duty to conserve and maintain the Earth's resources for future generations. It's about ensuring that future generations have the same or better access to resources as the current one.

ii) Waste Hierarchy: This principle is a guide for managing waste to minimize its environmental impact. It is often represented as a pyramid, with the most desirable option at the top and the least desirable at the bottom. The hierarchy is typically: prevention (of waste), reduction, reuse, recycling, energy recovery, and disposal.

iii) Improved Valuation, Pricing and Incentive Mechanisms: This principle suggests that the costs of goods and services should reflect their full lifecycle costs, including the cost of environmental impacts. This can be achieved through mechanisms such as taxes, subsidies, and market-based instruments. The aim is to incentivize sustainable behavior and choices.

iv) Precautionary Principle: This principle states that if an action or policy has the potential to cause harm to the public or the environment, in the absence of scientific consensus, the burden of proof falls on those advocating for the action or policy. It's often summarized as "better safe than sorry." This principle is used in policy making to justify proactive measures to prevent potential harm.