Assessing CO2 Emissions Reduction: Progress toward the Kyoto Protocol Goals in the European Union

Ora Freedman, Martin Freedman and A. J. Stagliano
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Ora Freedman: Stevenson University, USA
Martin Freedman: Towson University, Maryland, USA.
A. J. Stagliano: Saint Joseph’s University, USA.

International Journal of Business and Social Research, 2015, vol. 5, issue 11, 75-86

Abstract: The second phase of the Kyoto Protocol began in 2008. European nations had committed to reduce greenhouse gases (GHG) by an average of 8 percent from the base year 1990 by the end of 2012. A little less than half of the actual reduction in GHG emissions was achieved by implementing a market-based cap and trade mechanism. In this paper we evaluate the effectiveness of cap and trade as the preferred method for reducing carbon emissions. To do this, an examination is made of emissions for 14 European countries that are the largest GHG emitters in Europe. We conclude that using cap and trade in combination with other measures that reduce GHG emissions led to the EU achieving its Kyoto Protocol goals.

Keywords: Cap and Trade; Climate Change; GHG Emissions; Kyoto Protocol. (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:mir:mirbus:v:5:y:2015:i:11:p:75-86

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