The Kyoto Protocol (KP) is considered a necessary first step towards an effective future climate accord. As argued in this paper, however, the KP will likely fail because it has too many loopholes, inadequate governance structures and insufficient compliance provisions. This view is supported by case studies of Canada, Japan and the Netherlands. These countries are unlikely to achieve their self-imposed targets, or, if they do, the costs of compliance will be unacceptably high. Consequently, the difficulty of achieving agreement to reduce global emissions by half (as required to mitigate climate change) is greatly increased.
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Paper provided by University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group in its series Working Papers with number
2003-04.
Find related papers by JEL classification: Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
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