law_economics

Tatenda.W. Katsidzira

Economics and Law

March 6 2003

Title: Green house gas emission levels, impact on the environment and policies being sort to address the issue.

Abstract:

Burning of fossil fuels in industrial activities has caused an increase in green house gases, which in turn cause global warming. Because of the nature of the problem, which is international, the Kyoto protocol policies are difficult to implement, as there have an impact on the economy . Monitoring and enforcing the policies is another big problem.

Kyoto Protocol

requires industrialied nations to reduce carbon dioxide emmisions at specific target levels
uses regulations, emission trading permits, joint implementation and clean development machanisim to curb the problem

Problems which makes it difficult to implement Kyoto protocol

scientific disagreements
economic issues
law enforcement problems

Some scientist think that global warming is a natural phenomenon dating back to the ice age

so effects due to green house gases are negligible
even without green houses global warming will continue

Economic issues

cutting down on industrial activities leads to lost earnings
no incentive to participate
participating countries may have to use expensive technology
free rider problem, countries not participating also benefit
hold out problem, major polluters can prefer not to participate
cost of buying emission permits

Law enforcement problems

no real law enforcement agent
can not do anything to countries with nothing to loss
no site inspections so chances of cheating high
exchange of emission permits can be a problem

Environmental issues are usually under valued, thus most policies related to them are not implemented. This leads to implementing projects which hurt the environment in this case continuing with the high carbon emitting industral activities. Only localized enviromental laws are easy to enforce.

go to economics and law