Incentive-based Policies for Long-term Climate Change
Edited by Carlo Carraro and Christian Egenhofer
Chapter 5: The future evolution of the Kyoto Protocol: costs, benefits and incentives to ratification and new international regimes
5. The future evolution of the Kyoto Protocol: costs, beneﬁts and incentives to ratiﬁcation and new international regimes Carlo Carraro and Marzio Galeotti 1. INTRODUCTION The diverging views of the science of climate change and the need for fair and politically feasible mechanisms for implementing an international agreement to control climate change have been lurking under the surface of the UNFCCC negotiations and have become more explicit in the process of the ratiﬁcation of the Kyoto Protocol. This process has been and is difﬁcult and controversial. A few years ago, it appeared that the EU countries were waiting for other developed countries – the USA in particular – to take action at the same time (see, for example, the EU Council Conclusions of 1997). But, more recently, at the Bonn and Marrakesh Conferences of the Parties, the EU was strongly committed to implementing the Kyoto Protocol even independently of the decision – taken by the USA at the beginning of 2001 – to withdraw from the Kyoto Protocol. In 1999, the US Senate linked ratiﬁcation of the Kyoto Protocol with the ‘meaningful participation’ of key developing countries. However, in 2001, the USA unilaterally decided not to ratify the Kyoto Protocol for reasons mostly unrelated to the participation of developing countries. In 2000, at the Hague, developed countries have been unable to achieve an agreement on speciﬁc aspects of the treaty – speciﬁcally the balance between domestic actions and Kyoto mechanisms, the role of sinks, the implementation of sanctions,...
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