Quote:
Originally posted by 928ram
Another un-enforcable UN accord? And we expect nobody (everybody) to cheat on this right?
|
Good point, but this accord has an economic foundation behind it that will make it practicable and
attractive for nations (and the actual poluting commercial entities inside those nations) to jump on the bandwagon. This thing is not without cost - but is absolutely win-win for the entire planet. The consequences of non-action are pretty deadly (these were given "comic-book" treatment in the movie "The Day After Tomorrow").
Kyoto "credits" will start to be traded on an international scale just like crude/natural gas futures at some point in time. We have already seen Kyoto "swaps" where a Canadian company paid for the clean-up of the emissions of a South American company - thereby "buying" Kyoto credits.
All this thing takes is regulatory commitment from national governments to create the functional framework inside their borders. Few companies (some, like BP and Shell have done so I think) will commit to Kyoto-type reductions without a regulatory framework. Can't really blame them - they have to compete in their given market.
That the richest and worst poluting nation on the planet refuses to participate due to the "cost to the lifestyle of Americans" is an unfortuate thing indeed.
The US had previously signed onto Kyoto - George W Bush withdrew US support early in his presidency.