4. Climate Agreements and Treaties
You have been hearing about G20, COP27 all aothe rbig events happening in recent times. DO you know what they are about and what treaties and agreement scome out of these global events. We will look at a few in this part.
All of the protocols and treaties mentioned below have been gamechanger in the Climate change episodes. These treaties and agreements have given rise to the majority of the climate actions held around the world. While we are constantly hearing about COP 27 and G20 summits, let's go back to some of the other overlooked events that led to major changes in the climate policy landscape.
Greenhouse Gas Protocol[5]
It is a global standard set for companies and organizations to measure and manage their GHG emissions and become more efficient and resilient. It provides accounting, reporting standards, sector guidance, calculation tools for businesses, local and national governments to standardize the framework for measuring and managing emissions from private and public sectors operations.
Kyoto Protocol[6]
The Kyoto Protocol entered into force on 16 February 2005. According to the protocol, developed countries are expected to meet their targets. After Australia’s ratification of the protocol in 2007, the United States is the only developed country not to have ratified the Kyoto Protocol.
The protocol enables developing countries to cut their emission through three flexible mechanism namely :
- The Clean Development Mechanism enables emission-reduction projects in developing countries to earn ‘certified emission reduction’ credits which can then be traded or sold.
- Joint implementation allows developed countries to invest in emissions reduction activities in other developed countries. A developed country can thus earn ‘emission reduction units’ from an emission reduction or emission removal project in another developed country, which can be counted towards meeting its Kyoto target.
- Emissions trading helps developed countries to offset their emission once they exceed the limit by buying ‘credits’ from countries that stay below their emission targets. For the five-year compliance period from 2008 until 2012, countries that emit less than their quota will be able to sell emissions credits to countries that exceed their quota.
Montreal Protocol[7]
The Montreal Protocol agreement was signed in 1987 and entered into force in 1989. The Montreal Protocol is based on substances that deplete the Ozone Layer is a global agreement to protect the Earth’s ozone layer by phasing out the chemicals that deplete it. This phase-out plan includes both the production and consumption of ozone-depleting substances. The key points involved -
- The Montreal Protocol is signed by 197 countries. It is the first treaty in the history of the United Nations to achieve universal ratification.
- It is also considered by many experts as the most successful environmental global action.
- Montreal Protocol regulates the production and consumption of nearly 100 man-made chemicals referred to as ozone depleting substances.
- Common But Differentiated Responsibilities: The Montreal Protocol phases down the consumption and production of the different ODS in a stepwise manner, with different timetables for developed and developing countries.
Paris Agreement [8]
World leaders at the UN Climate Change Conference (COP21) in Paris reached a breakthrough on 12 December 2015: the historic Paris Agreement. It is a multilateral agreement within the United Nations Framework Convention on Climate Change (UNFCCC); signed to reduce, mitigate greenhouse gas emissions. The key points included -
- The key vision of the Paris Agreement is to keep global temperatures “well below” 2.0 degree Celsius (3.6F) above pre-industrial times and “endeavour to limit” them even more, to 1.5 degree Celsius.
- The Paris Accord talks about limiting the amount of greenhouse gases emitted by human activity to the same levels that trees, soil and oceans can absorb naturally, beginning at some point between 2050 and 2100.
- It also mentions the need to review each country’s contribution to cutting emissions every five years so they scale up to the challenge.
- Rich countries should help poorer nations by providing “climate finance” to adapt to climate change and switch to renewable energy.
United Nations Framework Convention on Climate Change
The United Nations Framework Convention on Climate Change (UNFCCC) was adopted in 1992 and it came into force in 1994. It is an international environmental treaty governing actions to combat climate change through adaptation and mitigation efforts directed at control of emission of Greenhouse Gases (GHGs) that cause global warming.