Substantive commitments

The principle of equity is operationalized in the substantive commitments of the Convention, which divide countries into two main groups. The 40 countries, plus the European Community, that are listed in the Convention's Annex I include those that were members of the OECD in 1992 and countries of the former Soviet Union and Eastern Europe, the so-called economies in transition (EITs). These are known as Annex I Parties (see Table 3.1). All other countries that have ratified the Convention are...

The Kyoto structure for the longer term

Grubb Hope And Fouquet 2002

Although debate about Kyoto has tended to focus almost obsessively on the first period commitments, the basic intent is to provide the structure for a dynamic, evolving regime that can effectively tackle climate change over the course of the century. The current set of emission targets for the first commitment period represent the first concrete step in a much longer-term process of negotiating emission commitments over successive periods. Negotiations on second period commitments are due to...

Bibliography

Akhurst, M., Morgheim, J. and Lewis, R. 2003 'Greenhouse gas emissions trading in BP', Energy Policy 31 657-663. Baumol, W.J. and Oates, W.E. 1988 The Theory of Environmental Policy, 2nd edn, Cambridge Cambridge University Press. Bohm, P. 1998 'Benefits of international emissions trading theory and experimental evidence', Paper presented at the International Emission Trading Conference, Sydney, May. Bruvoll, A., Faehn, T. and Str0m, B. 2003 'Quantifying central hypotheses on environmental...

Contributors

Joanna Depledge is Sutasoma Research Fellow at Lucy Cavendish College, Cambridge University. She holds a PhD from University College London, in which she researched the climate change negotiation process, along with a Masters in Development Studies from the London School of Economics. Joanna is a former staff member of the UNFCCC Secretariat, where she was closely involved in the negotiations on the Kyoto Protocol and subsequent decisions. Jane Ellis is a policy analyst in the Environment...

Fuel cell cars

Ogden et al. 2004 have estimated the societal life cycle costs of cars based upon alternative fuels and engines. Fifteen different vehicles were considered. These included current gasoline combustion engines and a variety of advanced lightweight vehicles internal combustion engine vehicles fuelled with gasoline or hydrogen internal combustion engine hybrid electric vehicles fuelled with gasoline, compressed natural gas, diesel, Fischer-Tropsch liquids or hydrogen, and fuel cell vehicles fuelled...

Revenue generation

Market-based mechanisms can affect a regulator's budget in different ways. First, the implementation of a mechanism is costly as was already discussed above. Second, those mechanisms can become a significant contribution to a government's budget. Any tax revenue raised through a carbon tax will directly go into the government's budget. In the context of emissions trading, however, funds are only raised when permits are auctioned off. There are two major rules for the allocation of emission...

Levelized electricity costs

Power plants are most frequently compared on the basis of their levelized electricity cost LEC , which relates the discounted capital cost of the plant, its annual operating and maintenance costs and fuel prices to the annual production of electricity to yield a value in cents per kWh. The formula for calculating the LEC is simply the ratio of the present value of the plant's lifetime cost stream to the plant's annual energy output, namely Xt It Mt Ft 1 r -t LEC - ---- 12.1 It is capital...