The Kyoto Protocol Extension Is Worthwhile

The world economy is a very complex system; in the system harmful externalities disrupt capital flows and determine economic productivity. Most notable of these externalities is inadvertent global warming. Spending towards research and regulation of climate change at both the national and international level are very important in determining current and future business trends. Economists and scientists worldwide continuously debate the pros and cons of emissions reduction and what consequences can quickly follow. Though many have different views on the issue, all can agree that the immediate and long term effects of climate change have become an economic matter of paramount importance. The sweeping impact from climate change will have important fiscal, financial, and macroeconomic ramifications that influence global commerce standards.

The UNFCCC is working with the various governments around the world to stabilize the amount of greenhouse gases emitted into the atmosphere to keep the planet from warming more than 2ºC above pre-industrial temperatures (Watts, 2015). The most noted of the work is the annual Conference of the Parties (COP) meetings that began with COP1 in Berlin back in 1995. The COP3 adopted the Kyoto Protocol, even though it wasn’t fully accepted by all member nations. The COP21 was an effort to legally bind members to their submitted plans of Intended Nationally Determined Contributions (INDCs), defining what level of greenhouse gas production each nation would commit to not exceeding from 2025-2030. Prior to the INDCs, a bleak outlook was forecast in 2009-2010 of global temperature rising between 4-5ºC. That figure was restated by the UNFCCC prior to the COP21 in Paris, to below 3ºC, due to the commitments of the INDCs (Watts, 2015).

In “Goodbye to the Climate,” Robert N. Stavins, expresses his worry about President Trump’s “America First Energy Plan”. This plan will have an effect on United States’ climate change programs, and remove the United States from the Paris agreement. This article will be used to explain content from the public goods chapter. This discussion will cover climate change, define what a public good is, the free rider problem, and tragedy of the commons and how it relates to this article.

The advent of industrialized civilization has brought to us many remarkable feats that enhance our everyday lives. Such things as automobiles, airplanes, tractors, mainframe computers, and even relatively simple machines like lawnmowers have intertwined themselves into the everyday culture of modern day industrialized countries.. These products have provided us enormous benefits compared to the types of lives our ancestors used to live. In the eyes of some, the consequences of industrial activities that have evolved around the world will not pose any problems in the future, however as most have realized, this is not true. Contemporary production processes use fossil fuels such as

“Scientists have been warning about global warming for decades. It's too late to stop it now, but we can lessen its severity and impacts” - David Suzuki. Global warming, a primary topic of debate in various conversations throughout all levels of government, has been an issue for countless years. In fact, of the 134 years recorded, the 10 warmest years have all occurred “since 2000, with the exception of 1998 “(NASA). Solving a global issue such as this is not as easy as it may seem; however ,The Paris Agreement vows to do just that by setting a plan to limit global warming to well below 2°C in “the first-ever universal, legally binding global climate deal” (Europa). Before signing off on such an agreement one must analyze the many negatives

Its adoption in 1997 and ratification in 2002 furthered the fight against anthropogenic interference with earth’s climate system. Canada’s commitment began with a goal to reduce GHGs by 6% reduction from 1990 levels by 2012, or 461 megatons (Canada and the Kyoto Protocol 2016). In order to achieve these goals, legal requirements expected policies and measures prepared by the participating countries to reduce GHGs, by utilizing all available mechanisms, including joint implementation to earn emissions reduction units (ERU) to be counted towards the target, the clean development mechanism and emissions trading (Kyoto Protocol 1997). Every year, on the date set forth, every participating country was expected to keep track of emissions limits and performance standards, develop spending or fiscal measures, as well their expectation for the next year and results from the previous (E. Canada 2013). When the first reduction timeline was up in 2008, instead of a decrease in emissions, Canada recorded an increase 24.1 percent higher than 1990 levels. The lack of commitment was superseded by the new government’s ‘Made in Canada” effort to push country-unified laws, though no significant changes were

“After ten days of tough negotiations, ministers and other high-level officials from 160 countries reached an agreement this morning on a legally binding Protocol under which industrialized countries will reduce their collective emissions of greenhouse gases by 5.2%. The agreement aims to lower overall emissions from a group of six greenhouse gases by 2008-12, calculated as an average over these five years.” (UNFCCC, 2011)

Climate change is one of the most concerning issue in the history foriegn policy. It encompuses not only the United states but the entire world. Which is why it is hard to create procedures and establish alliances concerning global climate change because greenhouse admission are not created by the actions of one nation. Addressing climate change is going to be a massive task. Every nations who emitts green house gasses must become part of some sort of a global agreement. This agreement will require new thinking when it comes to foriegn policy. The United States has recently created a Task force to deal with climate change. The task force recomends creating a treaty between the world's biggest emitters including China

On December 15, 2011, the Government of Canada authoritatively told the United Nations Framework Convention on Climate Change (UNFCCC) that Canada would practice its legitimate right to formally pull back from the Kyoto Protocol. The Environment Minister, Peter Kent, was the one who announced this. The Kyoto Protocol is an international agreement connected to the UNFCCC that sets internationally binding greenhouse gas reduction targets for each country that is in the agreement. There are a lot of benefits as to why Canada should stay in the agreement, but at the same time there are a few complications and setbacks that we will have to face as well. Canada will reduce the amount of greenhouse gases, save money and create jobs, and reduce drastic

The climate change impacts of greenhouse gases threaten the economic development and environmental quality. These threats indicate that all nations regardless their economic growth should work collaboratively to reduce the emission to a certain level. Hare et al. (2011) argued that “climate change is a collective action problem” thus requires a global coordination from all countries. This indicates that actions from several countries would never be sufficient to address the climate change problem. If a global target to limit warming to 2°C or below is about to achieve (UNFCCC 2010, p.4) a broad range of participation is required (Hare et al., 2011). However, the increasing complexity of negotiation processes is inevitable. Each country will pursue its own interests during the

“The Kyoto Protocol is an international treaty which extends the 1992 United Nations Framework Convention on Climate Change (UNFCCC) that commits State Parties to reduce greenhouse gas emissions, based on the premise that (a)

According to an article focused on environmental awareness, “the world’s average surface temperature rose by approximately 1 degree Fahrenheit, the fastest rate in any period over the last 1000 years” (Source A). Damage has already been done to the environment but it is not the time to throw our hands up, it is the time for leaders in all sectors to tackle this issue head on. We know that carbon dioxide is the culprit, so now it is imperative to implement the solution and take a hard look at who is producing the most greenhouse gases. Big changes need to take place but they can only be done in steps and not all at once to be effective. In an excerpt from a book about global warming, Mark Maslin brings up the point that many feel the Kyoto Protocol does not go far enough; scientists believe that a 60% cut of greenhouse gas emissions is necessary in order to “prevent major climate change” (Source E). A sixty percent cut of emissions should be what countries work up to achieving but first and foremost, every country needs to agree to the Kyoto Protocol guidelines. The Kyoto Protocol itself should not be viewed as the end in the discussion of greenhouse gas restrictions, but rather the first stepping stone to a much broader and effective

On December 12 of 2015, 195 countries made history by committing to the first truly global international climate change agreement (Paris Agreement, 2015). This agreement took place in Paris and was adopted under the United Nations Framework Convention on Climate Change (UNFCCC). The outcome of the Paris Conference on Climate Change was described as “revolutionary” (Venezuela) “marvelous act” (China) and as “a tremendous collective achievement” (European Union) that introduced a “new era of global climate governance” (Egypt) while “restoring the global community’s faith of accomplishing things multilaterally” (USA) (Paris Agreement, 2015).

For the last 10,000 years, the Earth’s temperature has been fairly steady, fluctuating by only about one degree Celsius. Since human existence the Earth’s temperature has fallen within this narrow range; however, for the first time in our history we have pushed above our historical temperature range due to emittance of anthropogenic carbon emissions. Scientists are uncertain of how much warming humanity can tolerate before experiencing the most destructive and dangerous effects of climate change, but most believe that two degrees Celsius is a good starting point to aim for. Thus, the stated goal of many international climate dialogs, such as the Paris Agreements, has been to stop the planet from warming an additional two degrees Celsius in order to mobilize the action need to get the whole world to work collaboratively to solve more extensive warming. In order to prevent further warming countries must stick to and follow through on their agreed emission cuts and find innovative solutions to make more significant cuts in the future.

Global warming has become one of the most complicated issued facing the whole world. It may cause significant changes in natural, ecological or social systems. Under this circumstance, developed nations has decided to work together to combat this serious problem. The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change. Its objective is to make nations that ratified the agreement reduce their emissions of carbon dioxide and five other greenhouse gases, or engage in emissions trading if they maintain or increase emissions of these gases toward the target set for each nation. Many countries are trying their best to support the Kyoto Protocol. On the other hand, some other nations,