Salvaging the Kyoto climate change negotiations

Abstract

Conclusion: Negotiations leading up to the Kyoto conference in December have been focused on establishing rigid targets and timetables for reducing carbon dioxide emissions. Because of the enormous uncertainties associated with climate change, this approach is unrealistic and has led to a stalemate in negotiations. There is still time, however, to produce a constructive agreement in Kyoto if the focus can be changed from targets and timetables to more practical policies. One such policy would be to set up a system of national permits and emissions fees for carbon dioxide; another would be to eliminate coal subsidies. Either of these would be a constructive, cost-effective way to address the problem of climate change. It is imperative that negotiators consider realistic options such as these, for failure at Kyoto would set back the chance of addressing climate change by a decade or more.