Climate Change Policy for India

Warwick McKibbin

Chapter 7 in Economic Growth, Economic Performance and Welfare in South Asia, 2005, pp 121-150 from Palgrave Macmillan

Abstract: Abstract The global community has been struggling with the issue of how to effectively respond to the threat of climate change for several decades. In 1992, the United Nations Earth Summit in Rio de Janeiro produced a landmark treaty on climate change that undertook to stabilize greenhouse gas concentrations in the atmosphere. By focusing on stabilization, however, the treaty implicitly adopted the position that the risks posed by climate change require that emissions be reduced no matter what the cost. The agreement, signed and ratified by more than 186 countries, including the United States, spawned numerous subsequent rounds of climate negotiations aimed at rolling back emissions from industrialized countries to the levels that prevailed in 1990. To date, however, the negotiations have had little effect on greenhouse gas emissions and have not produced a detectable slowing in the rate of emissions growth. The treaty’s implementing protocol, the 1997 Kyoto agreement, has stalled after being heavily diluted at subsequent negotiations in Bonn and Marrakesh.2 The survival of the Kyoto Protocol in its current form is waiting for ratification from Russia. More than a decade of negotiations has produced a policy that is very strict in principle but completely ineffective in practice.

Keywords: Gross Domestic Product; Carbon Emission; Clean Development Mechanism; Climate Policy; Kyoto Protocol (search for similar items in EconPapers)
Date: 2005
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DOI: 10.1057/9780230520318_7

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