From Kyoto to Copenhagen to Cancun to Durban to Doha: Successes and Failures in International Climate Negotiations
Richard Ivey School of Business, Canada
Volume 7: 2012, pp. 65-76; ABSTRACT
The Kyoto Protocol was established in 1997, but many issues remained unresolved and many nations refused to sign. International negotiations and conferences continued, with attempts to strengthen the Protocol. The EU led the way with national emission targets, caps for major firms, and an emission trading system. Other nations pursued alternative public policies including subsidies to change consumer and corporate decisions, and initiatives aimed at specific sectors such as motor vehicles and electricity generation. Developing nations faced a dilemma in preferring to invest in stimulating economic growth. In response to this dilemma, negotiations sought to establish a program of financial assistance to help cover the costs of emission reduction in developing nations. However, by 2013 many issues remained unresolved. Businesses had to decide how best to respond to emission reduction pressures and had to decide whether their location decisions should be influenced by cost differences due to regulatory differences.
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