International Climate Change Agreements Kyoto

April 10, 2021

One per cent of the revenue generated by the Emissions Trading Scheme is spent on a climate change adaptation fund for measures such as mangrove reforestation, dam construction and erosion control in mountainous regions of developing countries. According to the World Bank, about $10 billion (9.2 billion euros) has been invested in projects through the Fund and the Emissions Trading System. The outcome of the talks, which came into force eight years later, was the Kyoto Protocol: the first binding treaty under international law to reduce greenhouse gas emissions and an important step in international climate policy. He set the tone for everything that followed, said Saleemul Huq, director of the International Center for Climate Change and Development. The EU and its member states are participating in international efforts to combat climate change under the UN Convention on Climate Change. Taking part in an election campaign promise, Trump – a climate denier who has claimed that climate change is a “hoax” perpetrated by China, announced in June 2017 his intention to withdraw the United States from the Paris Agreement. But despite the rose garden president`s statement that “we`re going out,” it`s not that simple. The withdrawal procedure requires that the agreement be in effect for three years before a country can formally announce its intention to withdraw. She`ll have to wait a year before she leaves the pact. This means that the United States could formally withdraw on November 4, 2020, the day after the presidential elections. Even a formal withdrawal would not necessarily be permanent, experts say. a future president could join us in a month.

However, China and India are now, along with the United States, among the world`s largest annual emitters. Developed countries have argued that these countries must now do more to address climate change. While these measures are important for raising awareness and reducing some emissions, “everything is pretty small compared to governments around the world that define strong climate policy,” Michael Greenstone, a professor of economics at the University of Chicago, told the CFR Why It Matters podcast. Although the Kyoto Protocol was a diplomatic breakthrough, its success was far from certain. Indeed, reports published in the first two years after the treaty came into force indicated that most participants would not meet their emissions targets.