The design of the world’s only existing treaty (Kyoto Protocol) to limit emissions suffers from a serious loophole. Its drawback is that it is too benign towards the rich countries.
I believe that the Kyoto Protocol has been successful in igniting the ‘us’ versus ‘them’ debate between the developed nations and the least developed ones. It is true that the environmentally-unsustainable growth path adopted by the developed and developing nations over the years have resulted in immense negative dividends to the planet as a whole and at much greater costs to the least developed countries. No one now needs to be told that Maldives is sinking and the snow in the Himalayas is melting faster than we would have liked. Also, Sub-Saharan Africa is in a serious danger of mass starvation due to unprecedented climate hazards. In terms of carbon emissions, countries like Nepal and Maldives notably have had a negligible contribution to damaging the climate as compared to the gigantic figures for USA, Germany and China. The cumulative CO2 emissions from developed countries have been huge as evident from the table I have compiled. Hence, it is urgent that rich countries agree for tough CO2 cuts if they care for the planet and themselves.
The design of the world’s only existing treaty (Kyoto Protocol) to limit emissions suffers from a serious loophole. Its drawback is that it is too benign towards the rich countries. The Clean Development Mechanism (CDM) under the Kyoto Protocol allows the rich countries to emit as much carbon as they want in their backyards by investing in emission-cutting projects in the developing countries. So, as per the existing provisions, there is no real incentive or mechanism for the developed countries to actually reduce carbon emissions. I strongly agree with the view that finances must flow from the major polluters towards the poor countries for them to adapt to climate change but not with the existing mechanisms. In the long run, efforts to address the issue of climate change will hold no meaning if there are no serious efforts for climate change abatement in the first place.
| Cumulative CO2 emissions (Unit: Million metric tons) | |
| Country | 1990-2004 |
| Bangladesh | 562.6 |
| Bhutan | 6.3 |
| India | 25054.3 |
| Maldives | 6.6 |
| Nepal | 46.1 |
| Pakistan | 2303 |
| Sri Lanka | 250.2 |
| SAARC Countries | 28229.1 |
| USA | 314772.1 |
| Germany | 73625.8 |
| China | 89243 |
| Source: Own compilations | |
So, is it given that our fate is utterly dependent on rich countries or can we also play a role in paving our own destiny? Being an optimist, I believe that countries like Nepal have an important role in preventing the planet from further catastrophes. Environmental regulation under a strong institutional setup is a prerequisite to achieve any sustainable goal in the country. Nepali manufacturing industries should also meet certain environmental obligations in terms of carbon emissions and environmental damage. Given that the energy sector plays a prominent role in carbon emissions, a gradual switch from fossil-based fuel towards alternative green sources is also mandatory. Also, establishing carbon trading among large industries could be a solution for the future. Furthermore, provided the government issues and sells the carbon credits, the revenue generated could be used for renewable energy proliferation in the country.
While a lot of things need to be domestically resolved, it will be interesting to see how this international consensus would look like. Will we witness a better mechanism to combat climate change both in theory and practice? A reason to be positive is that every nation is now convinced that climate change is indeed a serious problem and ignoring it would be at our own peril. On the other hand, the anticipated active involvement of US and China also gives people something to hope for. I would be delighted to see the role of developed and developing countries clearly defined in addressing climate change. Also, unlike the Kyoto Protocol, which did not provide the incentive for rich countries to invest in hydro projects such as the ones in Nepal, this meeting should look into this issue. The Copenhagen meeting provides a perfect avenue for our delegates to stress our climate commitments through investments in hydroelectricity. Maybe, the rich countries will listen this time.
(Writer is pursuing PhD in Economics.)
rabindra.nepal@ou.edu
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