Posted: February 17th, 2022

The Economics of the Kyoto Protocol

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Due Part one

“Hello, fellow Americans am honored and humbled to deliver this speech as your presidential candidate nominee. I hope that each of you is coping with the disease that has become a life-threatening issue among us, and everyone is observing the WHO guideline and precautions to keep us safe. As I deliver this speech, I am joining you all in condolences to my fellow citizens who have been victims of this pandemic, either directly or indirectly, and wish those infected a quick recovery.

Our nation is now living in poor leadership times. We have been experiencing the poorest health services ever since the first leadership was ever named. We are facing the most considerable financial constraints that we have ever heard of in our country. As a country, we are facing racism which is a great enemy to our motherland. Not forgetting the rising climatic changes in our country. During all this entire crisis we have a leader who is not functional in dealing with these rising challenges but also leading us with full dictatorship. The forthcoming election is a great time for us as a country. So that we can curb all these existing challenges brought about by poor leadership, we ought to have true democratic citizens who must come to the aid of this country by bringing in the right leadership during the elections. We all need a country that is based on justice, love, and unity, showing that black or white Latin or Native American and Asian Americans, either native or immigrant Americans are all equally Americans.

Let’s talk like one and bring a point out crystal clear. If Donald Trump is reelected, all the developments that we have made as a country are going to be in jeopardy. During his reign, the unthinkable has become normal. The main purpose of this election is so as to restore democracy in our country. He has tried to prevent people from exercising their democratic duties like voting and bringing down the United States postal services.

My government will raise the least pay to fifteen dollars hourly, resulting in a pay rise of 40,000,000 workers. My government will make child’s health available. We will also help build and develop our infrastructure and deal with climate changes while changing the country to full electric coverage. This will, in turn, create millions of job opportunities. We will ensure universal health coverage for our citizens. We will stop the dehumanization of immigrants, the ugly attacks on women the racism in our country and reduce the hatred created by the leaving regime. Let’s save our democracy. Thank you.”

“Good evening, fellow citizens. I am very much humbled as I address you this evening. And thank you very much for taking your time to listen to what I am about to say to you today. I am having a very rough time in office following criticism from my fellow politician Bernie sanders and the democrats. I am hereby today declaring the critics as false and hateful. My friend Bernie and the democrats are so concerned about judging and criticizing people for clout and publicity or fame. The democrat’s party is a party full of corrupt and greedy leaders who are only interested in meeting their own selfish urges, and this makes them my true enemies because I am against any form of corruption in my government and am putting behind bars any government officers or leader faced with claims of corruption. These people are tirelessly and shamelessly lying to you about their true personalities and interest, and they most likely going to lead you, people, into a miserable life.

Bernie Sanders is a good man, but his selfish trait is threatening to the development of this country, and this will lead to a government that is against increasing the minimum wage. This, as you all know, would decrease the job opportunities in our country and, turn, result in high levels of poverty among our citizens. He is also addressing the issue of global warming, and he fails to understand that climate change is not a one-day event. This man has gone too far to the extent of thinking that he is a threat to me in my campaign for the presidency. This is unbelievable to me. But he thinks because of the journal poll that suggested that he had defeated me with about 15 or 10 points. Let us vote for leaders who will lead this country in a good direction and not leaders who will mislead us into having a corrupt government and emaciated economy. These are the word I met to address this evening. May you have a good evening and a blessed one. Thank you”.   

Part two

Kyoto agreement was an international treaty extended by UNFCC (United Nations Framework Convention on Climate Change) in 1992. The protocol aimed at committing state parties to the reduction of emissions of greenhouse gases. The concern rose based on the scientific agreement that global warming has been caused by human activities giving rise to such emissions (Dessai, 2001). The agreement was adopted on 11th December 1997, in Kyoto Japan but came it force later in February 2005 due to the complexity of the protocol. The agreement succeeded in implementing the UNFCC objective, which was the reduction of the global warming onset through the reduction of the concentration of greenhouse gases in the air to levels that would block the risky anthropogenic interference with the climate system. The protocol focused on the reduction of seven gases listed in annex A which include methane, nitrous oxide, hydrofluorocarbons, carbon dioxide, perfluorocarbons, nitrogen trifluoride, and sulfur hexafluoride. Initially, Nitrogen trifluoride was not on the list but was added later during the Doha round.  The protocol operated on the basis of common but differentiated responsibilities principle, which made an acknowledgment that the capabilities of individual states were different in the fight against climate change. They considered factors such as economic development and thus tasked the developed countries with a key responsibility. Additionally, the protocol argued that based on history, they are the main contributors to the current levels of greenhouse gases in the atmosphere (Grubb,2003).

The agreement’s first period of commitment commenced in 2008 a finalized in 2012. The protocol was adhered to by all the 36 countries that had signed it. However, out of the countries, 9 countries had to fold on their tools to match the flexibility of the mechanisms through raising funds towards the reduction of emissions in other countries due to their higher rate than the normal targets. The reduction of the emissions was partly made possible by the financial crisis of 2007-2008. The Eastern Bloc led in terms of the greatest emission reduction due to the disintegration of the Soviet Union in the early 1990s. The efforts applied in the reduction were watered down by a 32% increase in the emissions between 1990 and 2010 (Depledge, 2000). A second commitment was proposed in 2012 which was to extend to 2020. The commitment was known as the Doha amendment to the Kyoto agreement. In the second agreement, only 37 countries were binding targets. Other developed countries opted out of the second commitment, such as Canada and the United States of America, which did not ratify the agreement. 147 states had ratified the agreement as of October 2020. Having fulfilled the minimum number of countries required for ratification, which is at least 144 countries, the Doha amendment entered into force (Grubb, 2003).

The Paris agreement is an international treaty on climate change, Which is legally binding to all the members that ratified it. The agreement was adopted at COP 21, Paris by 196 parties in December 2015. It came to force later on in November 2016 (Falkener, 2016). The agreement’s main objective is the limitation of global warming to preferably 1.5 degrees Celsius, which is the required level compared to the already existing pre-industrial levels. In the urge to have this temperature goal achieved, the party states aim to reach global peaking of greenhouse gas emissions in the nearest time possible. Consequently, this will lead to a climate-neutral world. From the history of all the agreements and treaties made, the Paris agreement stands out as a landmark since it has assembled all the nations into a common cause with one focus: the combination of efforts in combating climate change and adaption of its consequences (Falkener, 2016). The agreement is dependent on social and economic transformation with reliance on the best scientific information available. The agreement’s objectives are anchored on a 5-year cycle of ambitious increased climate action carried out by member states. The agreement requires countries to make a submission of nationally determined contributions annually (NDCs). In the NDC, countries are expected to outline the actions they intend to take to reduce greenhouse gas emissions to reach the greater goal of the agreement. Evidently, the effects of climate change, especially the rising of temperatures, has already started occurring. The agreement requires that countries table the actions intended to be taken to cope with some of these effects. 

The United States of America should sign the agreement and ratify it. This is because as one of the superpowers, its adherence to the agreement is core both financially and in terms of environmental conservation or instead combating climate change. Withdrawal from the agreement will consequently reduce financial aid advanced by the United sates to the Green Climate Fund. According to statistics, the United States of America contributed approximately $3 billion, and its withdrawal means the withdrawal of the same amount, which will ultimately affect the research on climate change and slow down the speed of attainment of the agreement’s goals. Withdrawal by the United States will also mean that the spot to take over the global climate regime will be obtainable for China and the EU (Dai, 2017).

Additionally, the exit from the withdrawal will give more room for the United States to emit more greenhouse gases into the atmosphere since the agreement will no longer regulate it. This means that while the other countries struggle to reduce emissions, the U.S. will be having increased rates of emissions. For example, according to the NDC, United States withdrawal will increase its own emissions by 14%, 28%, and 54% in the 20, 13, and 00 scenarios, respectively (Dai, 2017).

References

Grubb, M. (2003), “The Economics of the Kyoto Protocol”, World Economics, 4 (3), CiteSeerX 10.1.1.163.1719

 Depledge, J.  (2000). United Nations Framework Convention on Climate Change (UNFCCC) Technical paper: Tracing the Origins of the Kyoto Protocol: An article-by-article Textual History (PDF), UNFCCC

Dessai, S. (2001). Tyndall Centre Working Paper 12: The climate regime from The Hague to Marrakech: Saving or sinking the Kyoto Protocol?, Norwich, UK: Tyndall Centre.

Dai, H. (2017). “The impacts of U.S. withdrawal from the Paris Agreement on the carbon emission space and mitigation cost of China, EU, and Japan under the constraints of the global carbon emission space”. Advances in Climate Change Research. 8 (4): 226–234. doi:10.1016/j.accre.2017.09.003. ISSN 1674-9278.

UNFCCC. “The Paris Agreement”. unfccc.int. Retrieved 18 September 2021.

Falkner,R. (2016). “The Paris Agreement and the new logic of international climate politics”. International Affairs. 92 (5): 1107–1125. doi:10.1111/1468-2346.12708. ISSN 0020-58

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