Economics Essay Paper on Three Key Elements of a Post-2012 International Climate Policy Architecture
These three elements include a policy that ensures that the already developed and developing nations are actively involved in meaningful ways in coming up with ways of curbing the increasing climate change around the world. Additionally, these elements focus on reducing the costs of controlling the climate changes by taking extended time paths in achieving the intended targets and goals and using flexible policies that will ensure equity among developed and third world nations. This architecture also focuses and put into consideration the science, economics, and politics aspects that are associated with global climate change. The major focus of this architecture is to point out the limitations of the Kyoto Protocol by supporting the establishment of the United Nations Framework Convention on Climate Change (UNFCCC).
The Kyoto Protocol treaty was created to extend the (UNFCCC) 1992 goal of having all nations come together in finding ways of reducing the human activities that have continued over the decades to increase greenhouse gasses into the atmosphere and causing global warming. However, this move has been met with much criticism as it is termed that it will be unfair to the developing nations since they are also striving to get to the success of their rich developed nations counterparts. It is claimed that the developed nations went through the path of greenhouse gasses emission to get where they are today, and thus, the developing nations feels that if these policies are anything to go by, then they will be locked out of the chances to grow.
In another article, Bosetti and Frankel (2011), looks into a formula that is estimated to reduce the amount of carbon II oxide in the atmosphere to 460 ppm by the year 2200. Thus, the international agreements seek to find a way that will have a prolonged timeline to achieve the (UNFCCC) targets of curbing greenhouse gas emissions. It is a good idea since it gives the developing nations time to adjust to the change of human activities that emit greenhouse gasses and have time to develop as well. Additionally, this tackles the issues of equity on the global warming policies by giving the developing nations enough time to embrace alternatives to energy producing techniques. According to research, there are innovations that are positive in replacing most of the harmful human activities of producing energy and the technology is likely to solve almost all of human problems in the future. If the developed nations come together to support the third world nations acquire the necessary technology to replace the human activities and produce energy without emitting CO2, then the (UNFCCC) targets will be achieved earlier to save the world and future generations from the adverse effects of climate change.
It is important for the world to achieve the (UNFCCC) targets because the effects of climate change such as famine, flooding, and financial implications in attempts to overcome these effects will be reduced. These three key elements are therefore very fundamental in curbing the effects of climate change as long as the needs of the third world nations will be put into considerations and a fair ground provided. The necessary support to the developing nations should also be provided to ensure that they can adapt the policies and fit in smoothly with the changes of their energy production. All nations, despite the increase in population, should put aside pieces of land for afforestation, as well as plant trees along the roads, homes and other institutions as one major way towards achieving the (UNFCCC) targets.