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The literature on global climate change governance frequently refers to the 1997 Kyoto Protocol as a "top-down" instrument, often in unfavourable comparison with the 2015 Paris Agreement, described as "bottom-up". However, the meaning ascribed to "top-down" is often left undefined, contributing to a surprisingly widespread misunderstanding that the Kyoto Protocol, and in particular its emission targets, were imposed on governments. Against this background, this paper seeks to answer the following research question: To what extent can the Kyoto Protocol's emissions targets be justifiably referred to as having been imposed through a "top-down" process? To answer this question, the paper reviews the literature on the Kyoto Protocol, with particular attention paid to the historical record and authoritative accounts of the negotiations. Having found evidence that denoting the Kyoto Protocol as "top-down" without further explanation is misleading, to the point of caricature and misrepresentation, the paper takes on a second research question: What factors lie behind the misleading characterisation of the Kyoto Protocol as "top down"? In answer to this question, the paper points to confusion between process and substance. It also invokes a wider tendency to unduly discredit the Kyoto Protocol, along with strategic efforts to emphasise differences between the Protocol and the Paris Agreement in order to legitimise the latter. The paper ultimately finds that the "bottom-up/top-down" metaphor obscures more than it illuminates, and that our understanding of both the Kyoto Protocol and the Paris Agreement would be best served by abandoning it. [ABSTRACT FROM AUTHOR]

Purpose: Carbon emissions from gas flaring in the Nigerian oil and gas industry are both a national and international problem. Nigerian government policies to eliminate the problem 1960-2016 yielded little or no results. The Kyoto Protocol (KP) provides Clean Development Mechanism (CDM) as an international market-based mechanism to reducing global carbon emissions. Therefore, the purpose of this paper is to analytically highlight the potentials of CDM in eliminating carbon emissions in the Nigerian oil and gas industry. Design/methodology/approach: This paper reviewed the historical background of Kyoto protocol, Nigerian Government policies to eliminating gas flaring in its oil and gas industry 1960-2016 and CDM projects in the industry. The effectiveness of the policies and CDM projects towards ending this problem were descriptively analysed. Findings: Government policies towards eliminating gas flaring with its attendant carbon emissions appeared not to be yielding the desired results. However, projects registered under CDM in the industry looks effective in ending the problem. Research limitations/implications: Therefore, the success recorded by CDM projects has the policy implication of encouraging Nigeria to engage on establishing more CDM projects that ostensibly proved effective in reducing CO2 emissions through gas flaring reductions in its oil and gas industry. Apparent effectiveness of studied CDM should provide a way forward for the country in eliminating gas flaring in its oil and gas industry which is also a global menace. Nigeria could achieve this by providing all needed facilitation to realising more CDM investments. Practical implications: CDM as a policy has proved effective in eliminating gas flaring in the Nigerian oil and gas industry. The government should adopt this international policy to achieve more gas flaring reductions. Social implications: Social problems of respiratory diseases, water pollution and food shortage among others due to gas flaring are persisting in oil and gas producing areas as government policies failed to end the problem. CDM projects in the industry have proved effective in eliminating the problem, thus improving the social welfare of the people and ensuring sustainable development. Originality/value: The paper analysed the effectiveness of Nigerian Government policies and an international market-based mechanism towards ending gas flaring in its oil and gas industry. [ABSTRACT FROM AUTHOR]

Relying on complex interdependence as a theoretical approach, this paper investigates the hypothetical damage that the U.S. withdrawal from the Paris Agreement could represent for Africa in terms of climate finance. In June 2017, President Donald Trump publicly declared the U.S. intention to withdraw from further participating in the multilateral Paris Agreement. To keen followers and analysts of the U.S. climate policy beyond its borders, such unilateral action was never a surprise. Rather, it is nostalgic of the experience of the Kyoto Protocol, particularly how more or less similar move unduly prolonged the global climate negotiations up till late 2015 when the Paris Agreement came about. Although the Paris Agreement is remarkable as it represents the first states-wide climate deal, it however left a number of issues unresolved. Notable among which is climate finance which has remained the most contentious and of critical concern to developing countries, particularly in Africa. Pitted against the fact that Africa contributes less to climate change and, ironically, the hardest-hit by the phenomenon, the U.S. withdrawal from the Paris Agreement aggravates concerns around climate finance and, indeed, portends additional burdens for a continent that is still struggling to cope with the untoward fallout of climate change. [ABSTRACT FROM AUTHOR]

Copyright of Fire Ecology is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study explores the implications of climate change for the bilateral relationship between India and Russia. While current research primarily focuses on the strategic aspects of their relationship, little attention has been given to the factors that could shape its future. Climate change has significant economic and social impacts on both countries, raising questions about how it will affect their relations. This paper examines the potential effects on livelihoods, agriculture, and trade, and investigates whether India and Russia can find areas of cooperation despite their differing roles as fossil fuel exporters and consumers.Despite their reliance on Western technology transfer, India and Russia have the opportunity to collaborate and develop new technologies together. The study highlights the potential for joint efforts in renewable energy, such as wind and solar power, to reduce dependence on fossil fuels. It also explores collaboration in biofuel production using Russia's biomass resources.Disaster risk management and information sharing emerge as additional areas of potential cooperation in the face of climate change. Collaboration in these areas can enhance preparedness and response mechanisms, strengthening overall resilience.The study also considers the Northern Sea Route (NSR) as a potential collaboration opportunity. As the Arctic ice melts, the NSR offers a viable trade route between Russia's European and Far Eastern regions. India has shown interest in contributing to its development, which could reduce shipping losses and emissions in transporting liquefied natural gas (LNG) from Russia.In conclusion, the paper emphasizes the need for adaptation and adjustment in the bilateral relationship to address climate change challenges. It underscores the importance of scientific collaboration, exploring joint initiatives, and developing sustainable solutions to mitigate the impacts of climate change while strengthening the longstanding India-Russia partnership.

Purpose The purpose of this paper is to analyse the measures taken by the Mexican Government in relation to the country’s climate change and its management to improve it.Design/methodology/approach Much of the information which has guided this review was sourced from official documents referred to the climate change initiatives in Mexico, especially technical reports and working papers. The selection of literature was considered based on its recency, academic importance and veracity. The studies selected mainly ranged from 2001 to 2017.Findings This review finds that further research is required to assess Mexico’s climate change efforts objectively, which will help to ascertain if the nation’s plans and commitment are as ambitious and strong as the country claims.Research limitations/implications Most of the literature considered in this review was sourced from official documents and has not been subject to extensive academic peer review to guarantee that national decision and policy making are based on reliable scientific knowledge.Originality/value Mexico is one of the first countries to introduce a law dedicated to climate change, and its inclusion of short-term climate pollutants in its National Climate Change Strategy makes it more ambitious than that of many other Latin American countries. However, literature on the subject is limited and fragmented. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Indian Government has made global commitment to reduce the emissions by 33% to 35% by year 2030. To achieve this target, interventions and improvements in the existing technologies being used would be needed. In this paper using patent data, an effort has been made to find out the trends in the technologies relating to climate change mitigation. The focus of majority of these technologies is to capture and separate carbon dioxide. Majority of these technologies are originating in USA and Japan. It was observed that with 237 patents/applications, L'Air Liquide is the top assignee in the area. In recent years, the leader is challenged by new entrant Altsom Technology, who has been aggressively filing patents and has overtaken L'Air Liquide. The paper reveals major patent owners in various technologies relating to climate change mitigation and this information would be helpful in seeking licenses and partnerships or for scouting for the technologies to meet the commitment to reduce the emissions. [ABSTRACT FROM AUTHOR]

It has been argued that the preoccupation of individual nations with economic growth and development has contributed to environmental degradation. Economic nationalism is viewed as a hindrance to international strategies that can be used to slow the rate of environmental degradation. This paper argues that, in the case of Singapore, the means to mitigate environmental concerns are largely driven by material interests. Emissions control measures have been introduced provided they have been deemed economically feasible. But this has not prevented the city state from being a socially responsible member of the global community. This paper argues that, in today's context, policies that appear to be “nationalist” may not be totally inconsistent with policies that could help to improve the standard of living of all members of the international community. Selective engagement in regional and global initiatives realistically portrays the policy choices of many nation states. This paper contends that environment-related initiatives have to be seen in terms of reconciling the dual objectives of maximising the national interest and mitigating the global problem of environmental degradation. [ABSTRACT FROM PUBLISHER]

The main objective of this paper is to examine the evolution of European Union (EU) climate strategy, scrutinising in particular developments in EU's views on the so-called flexibility or Kyoto mechanisms. In brief, the paper argues that there has been a gradual change in EU's views, from the role of a sceptic in the run-up to Kyoto towards becoming more of a frontrunner on emissions trading in recent years. The need to 'save Kyoto' and the protracted development of EU climate policy are highlighted as two of the most important drivers behind this process of change. This paper also discusses some of the lessons learned from international negotiations and the development of EU climate policy. Finally, and drawing upon the lessons learned, the paper explores key future challenges for the further development of EU climate strategy. [ABSTRACT FROM AUTHOR]

As a key element in its climate change strategy, the UK government launched a greenhouse gas emissions trading scheme in April 2002. The UK ETS is the first-ever national, industry-wide carbon trading scheme in the world and will eventually form part of the global carbon market which is expected to be established under the Kyoto Protocol. This paper assesses the effectiveness of the scheme both in facilitating emission reductions and also as driver towards moving from a fossil-fuel-based economy towards a low-carbon economy. By looking at early developments in the UK ETS and examining the emission profiles of FTSE 100 companies, the paper reveals some serious weaknesses and highlights that the environmental credibility of the market is hampered by low standards of emissions monitoring and reporting. The authors argue that a fundamental review of the UK scheme is required, to improve its environmental credibility and to bring it in line with the planned EU-wide scheme. [ABSTRACT FROM AUTHOR]

Purpose -- This paper aims to show why very little progress was made in arresting climate change. Managing climate change is one of the greatest challenges humanity has encountered in the 21st century. Responding to this greatest challenge, the United Nations has organized numerous climate change conferences. Four agreements (United Nations Framework Convention on Climate Change [UNFCCC], Kyoto, Copenhagen and Doha) have emerged in the process of developing a potential international climate change policy but failed to produce any ambitious agreement to arrest climate change. Design/methodology/approach -- The pledges made by Conferences of the Parties (COPs) to reduce the greenhouse gases (GHGs) are contextualized with the ever increasing emissions of GHGs by exploring the databases of UNFCCC, International Energy Agency (IEA), Energy Information Administration (EIA) and the Netherlands Energy Assessment Agency (NEAA) for this study. Findings -- However, GHGs have continued to rise and no globally binding agreement is seen to be forthcoming. Quantified targets to address the problem have yet to be agreed while major emitters remain free riders. This paper argues that the state-centric negotiating framework and the principles of the climate change negotiations were the main reasons for the inadequate outcomes leading to the continuing rise in emissions. Originality/value -- This is an original research. It has presented the overview of climate change agreements, finds the problems and presents a way forward. The research is useful for governments of the world, climate negotiators, students of climate change, researchers, NGO communities and every single human being who understands that managing climate change is not only complex but also extensive. [ABSTRACT FROM AUTHOR]

This paper argues that the development of the Ecosystem Services framework, which has recently emerged as an internationally recognized framework for valuing 'the 'natural capital' of ecosystems, presents a number of opportunities for heritage management and the archaeological record, arguing that the inclusion of archaeological and palaeoenvironmental 'value' within this framework presents an opportunity to incorporate heritage alongside a range of other critical 'services'. It presents a short case study focusing on the problems facing the preservation of peatland archaeological sites and deposits in situ alongside developments within peatland conservation and restoration initiatives partly driven by the ability of healthy, functioning peatlands to sequester carbon and hence mitigate climate change. It is argued that this drive towards peatland re-wetting may bring both positive benefits and opportunities for heritage management but also presents a number of practical issues, which now require active engagement from the archaeological community. [ABSTRACT FROM AUTHOR]

Background: Forests have always played an important role in agreeing on accounting rules during the past two decades of international climate policy development. Starting from activity-based gross-net accounting of selected forestry activities to mandatory accounting against a baseline-rules have changed quite rapidly and with significant consequences for accounted credits and debits. Such changes have direct consequences on incentives for climate-investments in forestry. There have also been strong arguments not to include forests into the accounting system by considering large uncertainties, procedural challenges and a fear of unearned credits corrupting the overall accounting system, among others. This paper reflects the development of respective accounting approaches and reviews the progress made on core challenges and resulting incentives. Main text: The historic development of forest management accounting rules is analysed in the light of the Paris Agreement. Pros and cons of different approaches are discussed with specific focus on the challenge to maintain integrity of the accounting approach and on resulting incentives for additional human induced investments to increase growth for future substitution and increased C storage by forest management. The review is solely based on scientific publications and official IPCC and UNFCC documents. Some rather political statements of non-scientific stakeholders are considered to reflect criticism. Such sources are indicated accordingly. Remaining and emerging requirements for an accounting system for post 2030 are highlighted. Conclusions: The Paris Agreement is interpreted as a 'game changer' for the role of forests in climate change mitigation. Many countries rely on forests in their NDCs to achieve their self-set targets. In fact, the agreement 'to achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century' puts pressure on the entire land sector to contribute to overall GHG emission reductions. This also concerns forests as a resource for the bio-based economy and wood products, and for increasing carbon reservoirs. By discussing the existing elements of forest accounting rules and conditions for establishing an accounting system post 2030, it is concluded that core requirements like factoring out direct human-induced from indirect human-induced and natural impacts on managed lands, a facilitation of incentives for management changes and providing safeguards for the integrity of the accounting system are not sufficiently secured by currently discussed accounting rules. A responsibility to fulfil these basic requirements is transferred to Nationally Determined Contributions. Increased incentives for additional human induced investments are not stipulated by the accounting approach but rather by the political decision to make use of the substitution effect and potential net removals from LULUCF to contribute to self-set targets. [ABSTRACT FROM AUTHOR]

The rise of a global welfare economics directed at the environmental challenges facing our planet represents a new policy phenomenon. This paper examines the most ambitious attempt so far to put such economics into practice via the Kyoto Protocol and more specifically the Clean Development Mechanism of the Protocol. The Copenhagen and Cancún climate change conferences have put an end to hopes of the Protocol serving as an effective tool in the mitigation of global warming. This failure of the new global welfare economics is the result of flawed principles, not just defective implementation. [ABSTRACT FROM AUTHOR]

With governments from around the world trying to hammer out a post-2012 climate change agreement, no one would disagree that a U.S. commitment to cut greenhouse gas emissions is essential to such a global pact. However, despite U.S. president Obama’s announcement to push for a commitment to cut U.S. greenhouse gas emissions by 17% by 2020, in reality it is questionable whether U.S. Congress will agree to specific emissions cuts, although they are not ambitious at all from the perspectives of both the EU and developing countries, without the imposition of carbon tariffs on Chinese products to the U.S. market, even given China’s own announcement to voluntarily seek to reduce its carbon intensity by 40–45% over the same period. This dilemma is partly attributed to flaws in current international climate negotiations, which have been focused on commitments on the two targeted dates of 2020 and 2050. However, if the international climate change negotiations continue on their current course without extending the commitment period to 2030, which would really open the possibility for the U.S. and China to make the commitments that each wants from the other, the inclusion of border carbon adjustment measures seems essential to secure passage of any U.S. legislation capping its own greenhouse gas emissions. Moreover, the joint WTO-UNEP report indicates that border carbon adjustment measures might be allowed under the existing WTO rules, depending on their specific design features and the specific conditions for implementing them. Against this background, this paper argues that, on the U.S. side, there is a need to minimize the potential conflicts with WTO provisions in designing such border carbon adjustment measures. The U.S. also needs to explore, with its trading partners, ccooperative sectoral approaches to advancing low-carbon technologies and/or concerted mitigation efforts in a given sector at the international level. Moreover, to increase the prospects for a successful WTO defence of the Waxman-Markey type of border adjustment provision, there should be: 1) a period of good faith efforts to reach agreements among the countries concerned before imposing such trade measures; 2) consideration of alternatives to trade provisions that could reasonably be expected to fulfill the same function but are not inconsistent or less inconsistent with the relevant WTO provisions; and 3) trade provisions that should allow importers to submit equivalent emission reduction units that are recognized by international treaties to cover the carbon contents of imported products. Meanwhile, being targeted by such border carbon adjustment measures, China needs to, at the right time, indicate a serious commitment to address climate change issues to challenge the legitimacy of the U.S. imposing carbon tariffs by signaling well ahead that it will take on binding absolute emission caps around the year 2030, and needs the three transitional periods of increasing climate obligations before taking on absolute emissions caps. This paper argues that there is a clear need within a climate regime to define comparable efforts towards climate mitigation and adaptation to discipline the use of unilateral trade measures at the international level. As exemplified by export tariffs that China applied on its own during 2006–08, the paper shows that defining the comparability of climate efforts can be to China’s advantage. Furthermore, given the fact that, in volume terms, energy-intensive manufacturing in China values 7 to 8 times that of India, and thus carbon tariffs have a greater impact on China than on India, the paper questions whether China should hold the same stance on this issue as India as it does now, although the two largest developing countries should continue to take a common position on other key issues in international climate change negotiations. [ABSTRACT FROM AUTHOR]

The Kyoto Protocol entered into force on February 16, 2005. Emissions reductions targets established by the protocol will be met by domestic policies and by three international flexible mechanisms: clean development, joint implementation, and emissions trading. Following a value-theoretic and class-based approach, the purpose of this paper is to analyze these flexible mechanisms. In particular, the paper investigates the nature and adoption of flexible mechanisms, and their class and environmental links and implications. Carbon-intensive capitalist firms and developed economies are found to be exerting great influence on the shaping and implementation of flexible mechanisms. Environmental effectiveness and justice, and equal sustainable development raised and claimed by worker-citizens, social movements, local communities, and developing countries have not been secured. Thus flexible mechanisms do not present a real challenge to current institutions and practices for sustainable climate conditions for the workers-citizen of the world. [ABSTRACT FROM AUTHOR]

In response to growing consensus among scientists and governments to act fast to avoid dangerous impacts of climate change, many industries have started to prepare for a carbon-constrained world. However, this response is far from being uniform. Often action is predicated on economic, technological, organizational and institutional drivers and barriers, which vary between countries and across industrial sectors. In order to understand the effectiveness of industry response, it is therefore important to analyse corporate response across different sectors in different countries. Focusing on the nine most energy-intensive and greenhouse gas (GHG) emitting industrial sectors, this paper compares corporate responses to climate change in Pakistan and the UK. By analysing the divergence of strategies adopted by industries across different sectors in two countries, the paper examines the key factors influencing corporate adoption and implementation of GHG reduction and energy-efficiency strategies in Pakistan and the UK. Copyright © 2007 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]

There are several air pollution issues that concern the international community at the regional and global level, including acid deposition, heavy metals, persistent organic pollutants, stratospheric ozone depletion, and climate change. Governments at the regional and global levels have entered into various agreements in an effort to deal with these problems. This paper deals with two major global atmospheric change issues: stratospheric ozone depletion and climate change. The focus is on the policy responses of the United States to these global issues. The United States has signed and ratified international agreements to deal with both problems. The Vienna Convention and the Montreal Protocol on Substances that Deplete the Ozone Layer have led to an effort in both developed and developing countries to phase out ozone depleting substances. The United Nations Framework Convention on Climate Change (UNFCCC) has been signed and ratified by over 180 countries. The UNFCC contained no binding targets and timetables for emissions reductions. The Kyoto Protocol (1997) to the UNFCCC did contain targets and timetables for reductions of greenhouse gases on the part of developed countries. The United States has signed but not ratified the Kyoto Protocol. The United States has experienced some movement to reduce greenhouse gas emissions on the part of various levels of government as well as the private sector. The policy process is constantly informed by scientific research. In the case of stratospheric ozone depletion and climate change, much of this work is carried out under the auspices of international scientific panels. From a policy perspective, there is a great deal of interest in the use of indicators for assessing the scope and magnitude of these problems, both for fashioning policy responses as well as assessing the impact of adopted programs to reduce ozone depleting substances, and potentially, greenhouse gases. This paper will discuss some of the indicators used for stratospheric ozone depletion and climate change. [ABSTRACT FROM PUBLISHER]

Non-governmental organisations have been playing a significant role in the formation and implementation of global climate change policies. The incremental participation of non-governmental organisations in climate change negotiations is significant for two reasons: 1) they provide governments with expertise and information; and 2) they help to bridge the lack of democracy and legitimacy in global environmental governance. The fulfilment of these two functions, however, is surrounded by doubts, as very little progress has been made so far in combating climate change. Many non-governmental organisations themselves lack democratic legitimacy in their formation and structures, and international climate change agreements are often fragile, not because the negotiators lack information but because they lack political will. This paper examines and outlines the areas for identifying how non-governmental organisations could contribute more to produce effective climate policies, in order to mitigate and manage climate change in the absence of more democratic international climate-change policy-making processes. [ABSTRACT FROM AUTHOR]

This paper intends to give a brief account of provisions of Kyoto Protocol along with the current position of the governments of countries playing key role in the implementation of the protocol. This protocol is a unique instrument of international law in the sense that it sets legally binding target for reduction of emission of greenhouse gases in the climate. Such targets are unprecedented in an environmental agreement. Though this protocol envisages great deal of mechanism both legal and economic, it is considered only to be the first stage in the process of climate change. This Protocol is considered to be innovative in the sphere of international law because of large amount of trade involved in its implementation which is also unprecedented in the international environmental treaties. [ABSTRACT FROM AUTHOR]

The New Zealand Emissions Trading Scheme (NZ ETS) broke new ground in ETS design. Drawing from analysis of core policy documentation, this paper examines the rationale, outcomes, and outlook for three key innovations – broad sectoral coverage with some upstream points of obligation, the absence of a hard limit on system emissions, and a two-part cost containment mechanism – following the first decade of operation. It also provides comparative assessment with the European Union Emissions Trading System and California Cap-and-Trade Program. The NZ ETS was designed around the principle of least-cost compliance with international responsibility targets and a core assumption that the Kyoto Protocol emissions market would converge toward an efficient emission price aligned with rising global mitigation ambition. This assumption did not become a reality. As a result, the NZ ETS has produced a functional cross-sector trading market but little incentive for domestic mitigation to date. In late 2019, amendments were introduced to reform sectoral coverage, unit supply, and price management features so the system will better support New Zealand's targets under the 2015 Paris Agreement and 2019 Zero Carbon Act. However, substantial technical and political challenges remain to set near-term domestic mitigation ambition, phase out industrial free allocation, determine the mitigation contribution from the land sector, and design the agricultural emissions pricing regime. The evolution of the NZ ETS, relative to other systems and in response to national circumstances, offers insights that can inform the future development of emissions trading globally. Key policy insights Since 2008, the NZ ETS has successfully pioneered broad cross-sector emissions trading with upstream energy-sector obligations and deforestation obligations with afforestation crediting. Pricing of biogenic agricultural emissions is anticipated from 2025. The government's failure to adapt unit supply and cost containment mechanisms to changing market conditions has undermined incentives for domestic mitigation, resulted in a large bank of participant-held emission units, and subjected the market to long-term policy uncertainty. A cap on auctioning and new price management features will better equip the NZ ETS to support New Zealand's domestic emission reduction targets, but strategic questions remain about the future role of the land sector. [ABSTRACT FROM AUTHOR]

Climate change is one of the main environmental challenges facing the world today. India is facing several problems. Climate change is associated with various adverse impacts on agriculture, water resources, forest and biodiversity, health, coastal management and increase in temperature. Decline in agricultural productivity is the main impact of climate change on India. A majority of population depends on agriculture directly or indirectly. Climate change would represent additional stress on the ecological and socioeconomic systems that are already facing tremendous pressure due to rapid industrialization, urbanization and economic development. This paper analyzes the impact of climate change and its various aspects in the Indian context. [ABSTRACT FROM AUTHOR]

This paper presents the first empirical test of the financial impacts of institutional investor activism towards climate change. Specifically, we study the conditions under which share prices are increased for the Financial Times (FT) Global 500 companies due to participation in the Carbon Disclosure Project (CDP), a consortium of institutional investors with $57 trillion in assets. We find no systematic evidence that participation, in and of itself, increased shareholder value. However, by making use of Russia's ratification of the Kyoto Protocol, which caused the Protocol to go into effect, we find that companies' CDP participation increased shareholder value when the likelihood of climate change regulation rose. We estimate the total increase in shareholder value from CDP participation at $8.6 billion, about 86% of the size of the carbon market in 2005. Our findings suggest that institutional investor activism towards climate change can increase shareholder value when the external business environment becomes more climate conscious. [ABSTRACT FROM AUTHOR]

The small scale forestry carbon project in Haryana, India has been registered as a Clean Development Project (CDM) activity and is the first such projects from India. Developed under the Kyoto Protocol of United Nations Framework Convention on Climate Change (UNFCCC), the projects aims at restoring heavily degraded sandune affected private lands and contribute to climate change mitigation. The project is expected to sequester 234,584 tons of carbon dioxide (tCO) in 20 years project cycle with an average annual sequestration of 11,729 (tCO) per year. The project is expected to have a total carbon stock of 385,253.1 ton Carbon (tC) in the project life span of 20 years as against 7,920.6 (tC) in the baseline scenario. The carbon credits earned from the project is supposed to provide additional incentives to the smallholders who have formed a cooperative society for this purpose. This paper addresses the issues and challenges in developing the project activity and also discusses the lessons learned in the process. The project is supposed to help in poverty alleviation and has become a success story for rehabilitating degraded lands in semi arid regions of India through plantation forestry. [ABSTRACT FROM AUTHOR]

Abstract: To date, developed countries can only tap mitigation opportunities in developing countries by investing in projects under the Clean Development Mechanism (CDM). Yet CDM investments have so far failed to reach all of the high-potential sectors identified in IPCC reports. This raises doubts about whether the CDM will be able to generate an adequate supply of credits from the limited areas where it has proved successful. Our paper examines the current trajectory of potential mitigation entering the CDM pipeline and projects it forward under the assumption that the diffusion of the CDM will follow a path similar to other kinds of innovations. Projections are then compared to pre-CDM predictions of the mechanism''s potential market size used to assess Kyoto''s cost, in order to discern whether limits on the types of project entering the pipeline will also limit the eventual supply of certified emission reductions (CERs). The main finding of the paper is that the mechanism is on track to deliver an average annual flow of roughly 700 million CERs by the close of 2012 and nearly to 1100 million tons by 2020. Parameter tests suggest that currently identified CDM investments will exceed early model predictions of the potential market for CDM projects. [Copyright &y& Elsevier]

Abstract: This paper argues that the problem with the targets and timetable approach to climate policy is that it ignores uncertainty about costs. An alternative approach on coordinating short run prices within a long run emissions targeting framework is outlined. A global economic model is used to demonstrate the nature of the economic uncertainty about climate policy and the gains to be achieved by equalizing carbon prices across countries. The paper also shows that although price and quantity-based systems appear to be similar they can fundamentally change the international transmission of economic shocks. [Copyright &y& Elsevier]

Copyright of Economic & Business Review is the property of Economic & Business Review and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Since 1990 carbon dioxide emissions in Africa have increased by about 50%. The total carbon dioxide emissions of the entire African continent are not, however, anywhere near those of countries such as India or China. Yet certain African countries have per capita emissions comparable to some European countries. What is the outlook for Africa? How should African countries respond as it becomes increasingly likely that climate change is occurring? Increased industrial growth and more foreign investment in Africa, especially in countries that are politically and economically stable, have led to huge commercial developments such as the In Salah gas project in Algeria, which releases more than a million tons of carbon dioxide annually; and synthetic fuel plants and power stations in South Africa that generate more than 350 million tons per year. In this perspective should some African countries be required to limit greenhouse gas emissions or should they be immune to 'environmental taxation'? This paper critically reviews the carbon dioxide problem in some parts of Africa and its role in climate change. [ABSTRACT FROM AUTHOR]

National, regional, and international actors can use a range of different policies to increase the demand for forest-based carbon sequestration. Demand for these services has, the potential to significantly impact the decisions of landowners, land managers, and private investors by increasing the incentives for creation or maintenance of forest ecosystems. The Kyoto process is at the center of discussions regarding the market for carbon services although it is not the only relevant source of demand. The authors recommend an approach to climate change regulation that requires actions beyond the current scope and term of the Kyoto Protocol. The four areas addressed in this paper are: (1) increasing regulation-based demand for carbon reductions by improved implementation and increasing coverage, (2) increasing voluntary demand for carbon reductions, (3) increasing the percentage of carbon reduction that derives from land use, land use change, and forestry, and (4) ways to stimulate demand for forest-based carbon sequestration generally by reducing transaction costs and contractual risks and in a particular country by recommending policy changes in Panama. [ABSTRACT FROM AUTHOR]

The assessment of greenhouse gases (GHGs) emitted to and removed from the atmosphere is high on both political and scientific agendas internationally. As increasing international concern and cooperation aim at policy-oriented solutions to the climate change problem, several issues have begun to arise regarding verification and compliance under both proposed and legislated schemes meant to reduce the human-induced global climate impact. The approaches to addressing uncertainty introduced in this article attempt to improve national inventories or to provide a basis for the standardization of inventory estimates to enable comparison of emissions and emission changes across countries. Authors of the accompanying articles use detailed uncertainty analyses to enforce the current structure of the emission trading system and attempt to internalize high levels of uncertainty by tailoring the emissions trading market rules. Assessment of uncertainty can help improve inventories and manage risk. Through recognizing the importance of, identifying and quantifying uncertainties, great strides can be made in the process of Accounting for Climate Change. [ABSTRACT FROM AUTHOR]

Central and Eastern Europe (CEE) is a rapidly changing and developing region which is making the transition to a market based economy. Along with economic reforms, the countries of the region are engaged in substantial environmental reforms, including climate change mitigation activities. Mitigation of, and adaptation to, the consequences of climate change are costly processes. It is therefore of great importance that the national and international mechanisms addressing these problems use methods both environmentally sound and economically efficient. Through two case studies that address the Clean Development Mechanism (CDM) in the Former Yugoslav Republic of Macedonia, and the Green Investment Scheme (GIS) in Romania, this paper explores challenges, related tasks and main problems in the establishment of mechanisms of the Kyoto Protocol in Central and Eastern Europe. [ABSTRACT FROM AUTHOR]

In theory, the interaction between the worlds of environmental science and policy may seem straightforward. From a realm outside politics and power, scientists provide relevant knowledge about nature upon which informed policy decisions could be based. However, in reality this linear model tends to be replaced by a much more complex relationship where the distinction between facts and values, knowledge and interests is less clear cut. In this paper, I explore links between science, policy and power through an interview study conducted with Swedish carbon cycle scientists and government negotiators to the UN Framework Convention on Climate Change. Drawing on a co-production model of science–policy interplay this paper addresses the implications of a mutually constitutive relationship between carbon cycle science and climate policy. [Copyright &y& Elsevier]

Abstract: Climate change response, including the implementation of the Kyoto targets as the first step, calls for technological innovation of future sustainable energy systems. Based on the Danish case, this paper evaluates the type of technological change necessary. During a period of 30 years, Denmark managed to stabilize primary energy supply, and CO2 emissions decreased by 10%, during a period of 20 years. However, after the introduction of the Kyoto Mechanisms, Denmark has changed its strategy. Instead of continuing the domestic CO2 emission controls, Denmark plans to buy CO2 reductions in other countries. Consequently, the innovative technological development has changed. This paper evaluates the character of such change and makes preliminary recommendations for policies to encourage the use of the Kyoto Mechanisms as an acceleration of the necessary technological innovation. [Copyright &y& Elsevier]

Australia and Canada have been active participants in international climate change negotiations since the early 1990s and have often shared negotiating positions. This paper discusses why, in spite of considerable similarities in national circumstances, the Canadian government chose to ratify the Kyoto Protocol in 2002, while the Australian government decided against doing so. It is argued that a range of factors led to a narrower conception of the national interest in the case of Australia, which encouraged a focus on the short-term, economic costs of implementing the Protocol. [ABSTRACT FROM AUTHOR]

Since entry into force of the UN Framework Convention on Climate Change (UNFCCC) in 1994, negotiations on controlling future greenhouse gas emissions have turned into one of the largest development issues of our time. In February 2005, the Kyoto Protocol entered into force and 9 months later a historical first meeting of the Kyoto Protocol (COP/MOP 1) was held in Montreal side-by-side with the 11th Conference of the Parties to the UNFCCC (COP 11). After several years of stalemate, the Montreal meeting has resulted somewhat unexpectedly in a constructive outcome that has opened the door for new momentum in climate talks. Along with several key technical decisions, an agreement was reached to hold separate talks to discuss the futures of the UNFCCC and the Kyoto Protocol. This paper discusses the main outcomes of the conference and explores possible ways forward. It concludes that success in the UNFCCC process is imperative to address climate change in both developing and developed countries, even if the most effective actions are taken outside the immediate context of the legal process. [ABSTRACT FROM AUTHOR]

The Kyoto Protocol, in its present form, is quantitatively and structurally totally inadequate to combat dangerous climate change. That is--to the authors of this paper--the inevitable conclusion to be drawn from three careful scientific studies on behalf of the Ministry of Environment of the German federal state of Baden-Wuerttemberg, two published in Beyond Kyoto--A New Global Climate Certificate System. Continuing Kyoto Commitments or a New Global Climate "Cap-and-Trade Scheme" for a Sustainable Climate Policy? (Wicke 2005) and one in Cost Impacts of a "Beyond Kyoto"-Global Cap and Trade Scheme (Wicke 2006) However, as the cited publications demonstrate, by a "structural evolution" of the climate regime, there can and should be an efficient and internationally acceptable beyond-Kyoto system. It is only necessary to combine some brilliant ideas that have already been proposed: the flexible Kyoto cap-and-trade mechanisms (emission trading between states, joint implementation, and the clean development mechanism) "invented" by US scientists and implemented in the Kyoto Protocol should be enlarged to a global cap-and-trade system, while the idea of equal per capita emission rights from India and Pakistan--which has been unfairly written off as not a serious proposal--can be the basic key to fair distribution of emission rights. Additionally, there must be economic corrections and mechanisms within such a free-market-oriented cap-and-trade scheme to make it economically acceptable for all countries to combat successfully dangerous climate change. This system would give incentives for climate-efficient behavior and structures worldwide and provide adequate means and incentives for sustainable, climate-friendly development and for the elimination of poverty--especially in developing countries. This paper attempts to prove both the inadequacy of the current Kyoto system and the feasibility and necessity of such a global cap-and-trade scheme--being nearly completely in line with a recent urgent call for a global cap-and-trade scheme by the World Economic Forum (World Economic Forum 2005). [ABSTRACT FROM AUTHOR]

China is the second largest emitter of greenhouse gases (GHG) in the world, with potentially about two thirds of total Certified Emission Reductions (CERs) for Asia on the world carbon market (Gruetter, 2002). Since 68% of its primary energy is from coal, China's average energy intensity is 7.5 times higher than the EU and 4.3 times higher than the US (EU, 2003). Therefore, introducing advanced clean technologies and management to China represents opportunities for Annex I countries to obtain low-cost CERs through CDM projects, and access to one of the largest potential energy conservation markets in the world. CDM can provide a win-win solution for both China and Annex I countries, and the Chinese government considers that the introduction of CDM projects can bring advanced energy technologies and foreign investment to China, thereby helping China's sustainable economy and generating CERs. As energy efficiency is generally low and carbon intensity is high in both China's energy supply and demand sectors, numerous options exist for cost-effective energy conservation and GHG mitigation with CDM. This paper reviews current Chinese policies and administrative and institutional settings for CDM cooperation, and discusses existing policy, institutional and other barriers in the energy market by drawing on observations and experience from previous initiatives such as Cleaner Production and energy efficiency. Some options to remove these barriers are addressed. In order to make CDM projects feasible, China's government needs to promote awareness, streamline administrative systems, and be more active in building a competitive edge in the world carbon market. [ABSTRACT FROM AUTHOR]

Temperate forest ecosystems have recently been identified as an important net sink in the global carbon budget. The factors responsible for the strength of the sinks and their permanence, however, are less evident. In this paper, we quantify the present carbon sequestration in Thuringian managed coniferous forests. We quantify the effects of indirect human-induced environmental changes (increasing temperature, increasing atmospheric CO2 concentration and nitrogen fertilization), during the last century using BIOME-BGC, as well as the legacy effect of the current age-class distribution (forest inventories and BIOME-BGC). We focused on coniferous forests because these forests represent a large area of central European forests and detailed forest inventories were available. The model indicates that environmental changes induced an increase in biomass C accumulation for all age classes during the last 20 years (1982–2001). Young and old stands had the highest changes in the biomass C accumulation during this period. During the last century mature stands (older than 80 years) turned from being almost carbon neutral to carbon sinks. In high elevations nitrogen deposition explained most of the increase of net ecosystem production (NEP) of forests. CO2 fertilization was the main factor increasing NEP of forests in the middle and low elevations. According to the model, at present, total biomass C accumulation in coniferous forests of Thuringia was estimated at 1.51 t C ha−1 yr−1 with an averaged annual NEP of 1.42 t C ha−1 yr−1 and total net biome production of 1.03 t C ha−1 yr−1 (accounting for harvest). The annual averaged biomass carbon balance (BCB: biomass accumulation rate-harvest) was 1.12 t C ha−1 yr−1 (not including soil respiration), and was close to BCB from forest inventories (1.15 t C ha−1 yr−1). Indirect human impact resulted in 33% increase in modeled biomass carbon accumulation in coniferous forests in Thuringia during the last century. From the forest inventory data we estimated the legacy effect of the age-class distribution to account for 17% of the inventory-based sink. Isolating the environmental change effects showed that these effects can be large in a long-term, managed conifer forest. [ABSTRACT FROM AUTHOR]

When planning sampling in an experiment where soil organic carbon (SOC) content is expected to change, it is necessary to know how many samples will need to be taken to demonstrate a change in Soc and after how long this change will be detectable. Much has been published on the number of samples required to demonstrate the minimum detectable difference in SOC. but less on how long it takes for this change to be detectable. In this paper, a model of SOC dynamics is used to estimate the minimum time taken for a change in total SOC content to become measurable under different carbon inputs, land uses and soil types. For free air carbon dioxide enrichment (FACE), and other experiments in which SOC is expected to increase, relationships between the percentage change in C inputs and the time taken to measure a change in SOC are presented, for two levels of sampling intensity corresponding to the maximum that is practically possible in most experiments (∼100 samples) and that used regularly in field experiments (10-20 samples). In FACE experiments, where C inputs increase by a maximum of about 20-25%, SOC change could be detected with 90% confidence after about 6-10 years if a sampling regime allowing 3% change in background SOC level (probably requiring a very large number of samples) were used, but could not be detected at all if a sampling regime were used that allowed only a 15% change in background SOC to be detected. If increases in C inputs are much below 15%, it might not be possible to detect a change in soil C without an enormous number of samples. Relationships between the change in C inputs and the time taken to measure a change in SOC are robust over a range of soil types and land uses. The results demonstrate how models of SOC dynamics can be used to complement statistical power analyses for planning when, and how intensively, to sample soils during experiments. An advantage of the modelling approach demonstrated here is that estimates of the minimum time taken for a change in soil carbon to become detectable can be made, even before any detailed soil samples are taken, simply from estimates of the likely increase in carbon inputs to the soil (via expected changes in net primary production). [ABSTRACT FROM AUTHOR]

Germany is the leader among countries belonging to the Organisation for Economic Co-operation and Development (OECD) in reducing its emissions of the Kyoto basket of greenhouse gases (GHGs), having accomplished an emissions reduction of 18.9 percent from 1990 to 2000. This paper aims to explain the reasons for this success and to examine the impacts of the adoption of the Kyoto Protocol on the development of Germany's climate policy. In order to identify the factors that determined this outcome, we divide our examination of the policy process in Germany since 1987 into five periods and will evaluate it with a focus on policy measures implemented and actors as well as the institutions involved. It concludes that domestic factors, including the participation of the Greens in the coalition government, mainly determined Germany's success in developing advanced climate policies and measures to reduce its GHG emissions. The paper also highlights the importance of the linkage of climate policy with other policies, which provided incentives to those who would otherwise have opposed or remained neutral on the development of climate policy. As such, the adoption of the Kyoto Protocol did not have a direct impact on climate policy development in Germany, but it did have an indirect impact in that it triggered the development of common and coordinated policies and measures at the European Union (EU) level in order to achieve its quantified GHG reduction target of 8 percent committed to under the Kyoto Protocol, as seen in the introduction of an EU-wide emissions trading scheme. [ABSTRACT FROM AUTHOR]

The objective of this paper is to assess recent developments and prospects for future changes in United States (US) climate strategy. In doing so, the paper explores some of the key factors that have shaped strategies and policies to date, distinguishing between factors related to institutional and governance structures, linkages between science and policy, energy technology and the role of interest groups. Against this background, the paper attempts to explore future development paths for US climate policy. More specifically, the paper assesses opportunities for policy changes compared to the preferences of the current administration, and the prospects for future linkages between US and international climate change strategies. In brief, the paper argues that substantial changes are unlikely to take place in the near to medium term, leaving open, however, the possibility of wide-ranging changes in domestic politics or major incidents that could facilitate a shift in the perceived need for near-term action. [Copyright &y& Elsevier]