Is There a Future for the Kyoto Protocol?

Overview December 11, 1997 : United Nations established treaty. February 2005: Treaty put in force (Covers more than 60% of worldwide carbon emissions). 174 countries ratified the Treaty (only Annex I countries are required to reduce their emissions – notable exception: USA) Ongoing debate about the usefulness of the protocol (cost versus benefit, co-operation of developing countries).

Objective Three Mechanisms: "stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system.” (http://unfccc.int/essential_background/convention/background/items/1353.php) Three Mechanisms: Clean Development Mechanism(CDM): Credit rewards for non-developed countries. Joint Implementation (JI): Annex I countries can convert credits from existing projects into Emission Reduction Units (future benefit for current reduction efforts). Emissions Trading (ET): Imposes limits on carbon emissions  creating a marketplace for trading of carbon credits (also known as “Cap & Trade”)

India and China CARBON EMISSIONS FROM COAL FOR INDIA AND CHINA IN COMPARISON TO THE WORLD:

The Good & The Bad and the Ugly The Good: Co-operation of policy makers, scientists, and economic leaders to forge a program, that similar to the Montreal Protocol, addresses the issues and works on solutions. The Bad: Exclusion of China, India and the United States from the overall reduction of carbon emissions. The Ugly: Inability to politically address the seriousness of the situation on an expedient basis and forge an alliance with the non-conforming countries to the protocol before 1912.

Solutions To re-examine the developing countries status every five years To create an international fungible contract for carbon emissions. To create a tax that is sanctioned and enforced by the United Nations on it’s membership and that the countries use this extra income for new sustainable energy projects.