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The Economists' VoiceTop Economists Take On Today's Problems$
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Joseph Stiglitz, Aaron Edlin, and J. Bradford DeLong

Print publication date: 2011

Print ISBN-13: 9780231143653

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231143653.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 19 September 2021

A Meaningful Second Commitment Period for the Kyoto Protocol

A Meaningful Second Commitment Period for the Kyoto Protocol

Chapter:
(p.28) Chapter 4 A Meaningful Second Commitment Period for the Kyoto Protocol
Source:
The Economists' Voice
Author(s):

Sheila M. Olmstead

Robert N. Stavins

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231143653.003.0004

In 1997, more than 160 nations agreed on the text of the Kyoto Protocol to the United Nations Framework Convention on Climate Change. Today, the main question is how the Protocol can be modified for its second commitment period (2012–2016) so that it will provide a way forward that is scientifically sound, economically rational, and politically pragmatic. This chapter provides a detailed blueprint of a sensible and possible way forward. It proposes in the second commitment period for Kyoto to expand participation to include all key countries. Step two is to use an extended time path for reductions so that the largest reductions occur after the current capital stock is exhausted and lower emissions technologies emerge. The key is to credibly commit today to future reductions so that these technologies do, in fact, emerge.

Keywords:   Kyoto Protocol, global warming, climate change, environmental protection, emissions control

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