The Economic and Environmental Implications of the US Repudiation of the Kyoto Protocol and the Subsequent Deals in Bonn and Marrakech
This paper illustrates the impact of the US' absence from the Kyoto Protocol on the trading of emissions permits. The authors find that US absence leads to limited emissions reductions in other regions and significantly reduces the demand for permits. The authors also show that all regions are better off with emissions trading than with no trading at all; nevertheless, US repudiation undermines most the environmental effectiveness of the Protocol.
© 2002 East-West Center (EWC)
Andreas Loschel, ZhongXiang Zhang
Appendix A lists the original Kyoto Protocol greenhouse gas (GHG) emissions reduction targets as well as the revised targets under the Bonn Agreement and the Marrakech Accords. Appendix B describes the emissions trading model employed in simulations.