Environmental Markets: Equity and Efficiency

By Graciela Chichilnisky; Geoffrey Heal | Go to book overview

Chapter 14
A Commentary on the Kyoto Protocol
Raúl Estrada-Oyuela

14.1 Introduction
The Kyoto Protocol to the UN Framework Convention on Climate Change is the product of 30 months of complex negotiations and of a climactic lastminute adoption, so that a good number of its articles and paragraphs need interpretation and further elaboration. In many points agreements were reached on the basis of the “openness” of the drafting and postponement of definitions.During the next two years a lot of work had to be done on those points through informal gatherings and workshops and intergovernment conferences. Such meetings have already been held by the Royal Institute of International Affairs at Chattam House in London, the Japanese Ministry of Trade and Investment (MITI) in Tokyo, and the OECD and IEA in Paris. This workshop at Columbia University can be considered the fourth in chronological order.The protocol contains the following:
1. Menu of “mandatory” policies and measures for industrialized countries (Art. 2)
2. Quantified emission limitations and reductions commitments for the same group (Art. 3)
3. A “bubble” provision, especially convenient for the European Union (Art. 4)

“From Kyoto to Buenos Aires: Technology Transfer and Emissions Trading” was chaired by G. Chichilnisky and R. Estrada-Oyuela and hosted by the Italian Academy of Columbia University, April 1998, with the support of the UNESCO chair at Columbia University, UNDP, UNEP, and UNIDO.

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