Abstract:International audienceThis article provides an ex post analysis of the compliance of the Parties to the Kyoto Protocol during the first commitment period (2008-2012) based on the final data for national GHG emissions and exchanges in carbon units that became available at the end of 2015. On the domestic level, among the 36 countries that fully participated in the Kyoto Protocol, only nine countries emitted higher levels of GHGs than committed and therefore had to resort to flexibility mechanisms. On the intern… Show more
“…Another important source of demand for carbon credits came from governments of countries—most notably Japan—that required them for compliance under the KP. Indeed, the analysis of the final data for national GHG emissions and exchanges in carbon units during the first KP Commitment Period demonstrated that overall, the Annex B parties to the KP surpassed their aggregate commitment and that all individual countries were in compliance, with 9 of 36 countries—Austria, Denmark, Iceland, Japan, Lichtenstein, Luxembourg, Norway, Spain and Switzerland—achieving it only thanks to the use of flexibility mechanisms (Shishlov et al, ). This source of demand was estimated to be around 300 million tCO 2 e between 2008 and 2015 (Bellassen et al, ).…”
Section: Fragmentation Of Carbon Markets In 2012–2014mentioning
The Paris Agreement will greatly benefit from the past experience with international market mechanisms for greenhouse gas (GHG) emissions reductions and related regulatory systems, which have gone through four periods with specific challenges. The first period 1997–2004 operationalized the mechanisms defined in the Kyoto Protocol, the Clean Development Mechanism (CDM) and Joint Implementation (JI). Pilot activities in different sectors were undertaken by the public sector, and the first baseline and monitoring methodologies officially approved. Between 2005 and 2011, the carbon markets expanded massively. The EU emission trading scheme (EU ETS) was linked to the Kyoto mechanisms, creating demand for carbon credits from the private sector. During this “gold rush” period criticism emerged with regarding the uneven geographical distribution of projects, as well as environmental integrity problems related to baselines and additionality. The next period saw a collapse in carbon prices between 2012 and 2014, limiting the development of new projects. The quantitative limits on the use of offsets in the EU ETS were reached and the failure to agree on a new international regime resulted in a drying up of demand from governments. The 2015–2018 period is characterized by a gradual stabilization of the international climate regime. The Paris Agreement adopted in 2015 increases complexity through global participation in mitigation. Future carbon markets will therefore face both old challenges—supply–demand balance, environmental integrity, transaction costs—and new ones—interactions with other policies and national targets, and sectoral/policy baselines and additionality checks preventing hot air proliferation.
This article is categorized under:
The Carbon Economy and Climate Mitigation > Policies, Instruments, Lifestyles, Behavior
“…Another important source of demand for carbon credits came from governments of countries—most notably Japan—that required them for compliance under the KP. Indeed, the analysis of the final data for national GHG emissions and exchanges in carbon units during the first KP Commitment Period demonstrated that overall, the Annex B parties to the KP surpassed their aggregate commitment and that all individual countries were in compliance, with 9 of 36 countries—Austria, Denmark, Iceland, Japan, Lichtenstein, Luxembourg, Norway, Spain and Switzerland—achieving it only thanks to the use of flexibility mechanisms (Shishlov et al, ). This source of demand was estimated to be around 300 million tCO 2 e between 2008 and 2015 (Bellassen et al, ).…”
Section: Fragmentation Of Carbon Markets In 2012–2014mentioning
The Paris Agreement will greatly benefit from the past experience with international market mechanisms for greenhouse gas (GHG) emissions reductions and related regulatory systems, which have gone through four periods with specific challenges. The first period 1997–2004 operationalized the mechanisms defined in the Kyoto Protocol, the Clean Development Mechanism (CDM) and Joint Implementation (JI). Pilot activities in different sectors were undertaken by the public sector, and the first baseline and monitoring methodologies officially approved. Between 2005 and 2011, the carbon markets expanded massively. The EU emission trading scheme (EU ETS) was linked to the Kyoto mechanisms, creating demand for carbon credits from the private sector. During this “gold rush” period criticism emerged with regarding the uneven geographical distribution of projects, as well as environmental integrity problems related to baselines and additionality. The next period saw a collapse in carbon prices between 2012 and 2014, limiting the development of new projects. The quantitative limits on the use of offsets in the EU ETS were reached and the failure to agree on a new international regime resulted in a drying up of demand from governments. The 2015–2018 period is characterized by a gradual stabilization of the international climate regime. The Paris Agreement adopted in 2015 increases complexity through global participation in mitigation. Future carbon markets will therefore face both old challenges—supply–demand balance, environmental integrity, transaction costs—and new ones—interactions with other policies and national targets, and sectoral/policy baselines and additionality checks preventing hot air proliferation.
This article is categorized under:
The Carbon Economy and Climate Mitigation > Policies, Instruments, Lifestyles, Behavior
“…Despite the positive achievements reached globally during the first commitment period of the Kyoto Protocol [64], overall the KP has been found to be more symbolic than substantive in delivering conditions for countries and industries alike and does not address the considerable variation in the emissions already produced by countries and various industrial sectors [48,65,66]. This shortfall further complicates the efforts to generate an appropriate collaborative environmental response [30,67,68].…”
Abstract:The 21st century has been the warmest period on record since 1880, making the problem of climate change a central issue in the global political arena. While most approaches to climate change emphasize setting and imposing thresholds for greenhouse gas emissions, this paper argues that the issue of climate change and its solutions should be viewed in a more dynamic and complex way, involving social messes and the fragmentation of industries and organizations. In this context, learning models can offer a starting point to understand the reasons why organizations engage in certain types of corporate environmental strategies with regard to climate change, and can help in the search for solutions to the problem of climate change.
“…While Kyoto was 'legally binding' and did include a novel compliance mechanism, the threat of enforcement was not thought to be credible. While many states may meet their targets (and most did), many believed this would largely be due to factors external to the agreement, not the risk of being punished (Rosen, 2015;Shishlov et al, 2016). Ultimately, little stood in the way when a country, like Canada, failed to meet its obligations and simply exited the treaty.…”
Section: Kyoto: the Emergence Of A Legalized Regulatory Modelmentioning
The Paris Agreement has emerged as one of the world's most important international treaties. Many believe that it offers a new approach to the problem of climate change, can contribute significantly to the goal of reducing emissions, and may hold lessons for how to govern other cross‐border issues. As a result, it has been the focus of considerable debate among scholars and policy makers. But how precisely does Paris seek to govern global warming and is it likely to work in practice? We address this question by contrasting the Paris ‘model’ of climate governance with earlier ones associated with the Kyoto Protocol and Copenhagen Accord. These models have taken different approaches to the problem of governing climate change, each with attendant advantages and limitations. The Paris model advances upon earlier efforts in certain respects, but also blends elements from earlier models. We then lay out the central axes of the debate that has emerged about the future of the Paris model, and discuss research illuminating how it may operate in practice. The agreement's success will depend on how the agreement is implemented, and on how the UNFCCC process interacts with the complementary approaches to climate governance appearing beyond it.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.