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The Kyoto Protocol: A Review and Perspectives

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  • Böhringer, Christoph

Abstract

International concern about climate change has led to the Kyoto Protocol, negotiated in 1997, which contains legally binding emission targets for industrialized countries to be achieved during the commitment period 2008-2012. While proponents of the Protocol celebrate it as a breakthrough in international climate policy, opponents criticize that its approach, namely setting targets and timetables for emission reductions, is seriously flawed. This paper provides a critical assessment of the Protocol?s potential performance and discusses amendments to foster its effectiveness and efficiency. It concludes that, even without any effective emission reductions in the initial commitment period, the ratification of Kyoto is important for the further policy process of climate protection. The Kyoto Protocol has established a flexible broad-based international mechanism that provides a valuable starting point for shaping efficient climate policies in the future.

Suggested Citation

  • Böhringer, Christoph, 2003. "The Kyoto Protocol: A Review and Perspectives," ZEW Discussion Papers 03-61, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:1491
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    16. Winston W. Chang, 2017. "World Trade and the Environment: Issues and Policies," Pacific Economic Review, Wiley Blackwell, vol. 22(3), pages 435-479, August.
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    18. Maamoun, Nada, 2019. "The Kyoto protocol: Empirical evidence of a hidden success," Journal of Environmental Economics and Management, Elsevier, vol. 95(C), pages 227-256.
    19. Romano, Bernardino & Zullo, Francesco & Saganeiti, Lucia & Montaldi, Cristina, 2023. "Evaluation of cut-off values in the control of land take in Italy towards the SDGs 2030," Land Use Policy, Elsevier, vol. 130(C).
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    21. Sadegheih, A., 2011. "Optimal design methodologies under the carbon emission trading program using MIP, GA, SA, and TS," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(1), pages 504-513, January.
    22. Cameron Hepburn, 2006. "Regulation by Prices, Quantities, or Both: A Review of Instrument Choice," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 22(2), pages 226-247, Summer.
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    24. Fulton, Murray E. & Mihal, Daniela, 2005. "The Economic Impact of Non-Compliance in the Carbon-Offset Market," 2005 Annual meeting, July 24-27, Providence, RI 19179, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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    More about this item

    Keywords

    climate policy; cost-benefit analysis; Kyoto Protocol;
    All these keywords.

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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