Recent climate talks in Copenhagen reaffirmed the crucial role of reducing emissions from deforestation and degradation (REDD). Creating and strengthening indigenous lands and other protected areas represents an effective, practical, and immediate REDD strategy that addresses both biodiversity and climate crises at once.
Article 2 of the UN Framework Convention on Climate Change (UNFCCC), which states the treaty's long-term objective, is the subject of a growing literature that examines means to interpret and implement this provision. Here we provide context for these studies by exploring the intertwined scientific, legal, economic, and political history of Article 2. We review proposed definitions for "dangerous anthropogenic interference" and frameworks that have been proposed for implementing these definitions. Specific examples of dangerous climate changes suggest limits on global warming ranging from 1 to 4 • C and on concentrations ranging from 450 to 700 ppm CO 2 equivalents. The implications of Article 2 for near term restrictions on greenhouse-gas emissions, e.g., the Kyoto Protocol, are also discussed.
This paper proposes the creation of a club of carbon markets (CCM), to promote deep reductions in greenhouse gas emissions by supporting the development, harmonization, and increased ambition of domestic carbon markets. To achieve its aims, the club would establish common or reciprocal standards for environmental market infrastructure, transparency and environmental integrity; offer mutual recognition of members' emissions units; allow participating jurisdictions to share experience and gain assistance in building institutional capacity; and promote domestic and cross-border investment in low-carbon development. Using a suite of incentives, including some from the trade arena, a club of carbon markets could serve as a powerful attractive nucleus for broadening the participation of jurisdictions in climate mitigation, much as the General Agreement on Tariffs and Trade (GATT) served as the nucleus for broadening trade in products and services. A carbon markets club could be launched under UNFCCC auspices, but a more promising avenue might be to pursue the creation of the CCM as a complement to but outside the UN talks.
Protecting terrestrial ecosystems through international environmental laws requires the development of economic mechanisms that value the Earth's natural systems. The major international treaties to address ecosystem protection lack meaningful binding obligations and the requisite financial instruments to affect large-scale conservation. The Kyoto Protocol's emissions-trading framework creates economic incentives for nations to reduce greenhouse-gas (GHG) emissions cost effectively. Incorporating GHG impacts from land-use activities into this system would create a market for an important ecosystem service provided by forests and agricultural lands: sequestration of atmospheric carbon. This would spur conservation efforts while reducing the 20% of anthropogenic CO(2) emissions produced by land-use change, particularly tropical deforestation. The Kyoto negotiations surrounding land-use activities have been hampered by a lack of robust carbon inventory data. Moreover, the Protocol's provisions agreed to in Kyoto made it difficult to incorporate carbon-sequestering land-use activities into the emissions-trading framework without undermining the atmospheric GHG reductions contemplated in the treaty. Subsequent negotiations since 1997 failed to produce a crediting system that provides meaningful incentives for enhanced carbon sequestration. Notably, credit for reducing rates of tropical deforestation was explicitly excluded from the Protocol. Ultimately, an effective GHG emissions-trading framework will require full carbon accounting for all emissions and sequestration from terrestrial ecosystems. Improved inventory systems and capacity building for developing nations will, therefore, be necessary.
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