Is It In U.S. Interests to Sign the Kyoto Protocol to Reduce Carbon Emissions - Annotated Bibliography Example

Research Question Is it in U.S. interests to sign the Kyoto Protocol to reduce carbon emissions? Hypotheses If the U.S. signs the Kyoto Protocol,the competitiveness of American businesses will decrease. 2. If the U.S. signs the Kyoto Protocol, the GHG will decrease resolving the overall problem. 3. If the U.S. Does not sign the Kyoto Protocol, that will not help to make the difference in the Carbon foot print that is created with our assistance. Annotated Bibliography Badrinarayana, D. (2014). Trading Up Kyoto: A Proposal to Amend The Protocol, Part I. Boston College Environmental Affairs Law Review, 41 (1), 1-61. The current article analyzes the trade and climate treaty conflict by demonstrating that it cannot be addressed within the current framework of international trade law. In case of developing nations that currently appear as emerging economies and major greenhouse gas emitters, the Kyoto Protocol bound them with obligations of targeted emissions reduction. This process, directed by the World Trade Organization (WTO), creates loss of competition and leakage among developed country signatories. Another installation of the conflict with WTO rules is visible in failing efforts of some nations to promote their renewable energy subsidies (RES). In fact, such efforts were banned by WTO Panel as inappropriate. As a result of these misunderstandings, developed countries like the United States, Canada, Japan and Russia decided to reject the Kyoto Protocol obligations. However, new climate change treaty is needed in 2015 in order to address the loss of competition and leakage problems in the contemporary world. Therefore, in this study the factor of international economy in perception of the Kyoto Protocol is revised. CEI Staff (1998). Don’t Sign the Kyoto Protocol. Competitive Enterprise Institute. Retrieved August 25, 2014, from http://cei.org/news-releases/don%E2%80%99t-sign-kyoto-protocol-climate-treaty-dangerous-us-world The article shows the way of climate perception in the previous decade. In particular, the number for difficulties in case the Kyoto Protocol is signed is mentioned. Firstly, such a document is estimated as one that threatens the U.S. economy in terms of employment in steel, chemical manufacture, petroleum refining, cement and paper industries. Moreover, the Kyoto document causes increase in consumer energy prices which is unbearable for poor working families and small businesses. Globally, the document can decelerate economic growth in the economy in places like Asia, Africa and Latin America. As a result, the study states that the price of the Kyoto Protocol is too high to be suitable for USA. Cheng, C., Pouffary, S., Svenningsen, N. and Callaway, M. (2008). The Kyoto Protocol, The Clean Mechanism and the Building and Construction Sector – A report for the UNEP Sustainable Buildings and Construction Initiative. Paris: United Nations Environment Programme. The current research presents the example of negative impact caused by rapid reduction of energy consumption on the building and construction sector. In particular, from one-third to the half of current energy consumption in buildings will be cut; hence, it will require further additional investing in order to keep it effective. And so, the issue of deep connection between climate change and society is evident. Moreover, it is stated as vitally important to provide the new way of thinking in order to change the consumption habits in the society. On another hand, in developing countries houses are constructed simply as shelters for poor; so, people’s basic needs in energy are not even met there. Therefore, the national government is responsible to provide the appropriate policy in the circumstances of their needs rather than try to meet the requirements which are proper for the developed countries. In their turn, developed countries have to create common strategy in order to overcome the difficulties in their societies. Chen, N., and Wang, W. (2012). Kyoto Protocol and capital structure: a comparative study of developed and developing countries. Applied Financial Economics, 22 (21), 1771-1786. This study examines the impact of the Kyoto Protocol ratification on the capital structure of nonfinancial firms in 45 countries from 2002 to 2007. Actually, the results show that it has a negative impact on the leverage of firms in general. However, such an affect is apparent rather in developed than in developing countries. Furthermore, it is reinforced by a market-based (not bank-based) financial system. Lastly, results suggest that the Protocol ratification caused reduction in agency costs for firms in developed countries. And so, certain policies in the developed countries with market-based financial system should be implicated in order to decrease leverage in response to stricter climate-related regulations of environmentally friendly society. Finally, results suggest that it is beneficial for developed countries to commit on becoming environmentally liable by joining the global effort to combat climate change. In this context, the Protocol ratification appears to mitigate agency problems for the firms in the developed countries. Cirman, A., Domadenik, P., Koman, M., and Redek, T. (2009). The Kyoto Protocol in a Global Perspective. Economic and Business Review, 11 (1), 29-54. The current research examines global climate in terms of both atmospheric concentrations of greenhouse gases (GHG) and global average temperature increase since the beginning of the Industrial Revolution. In this context, the historical perspective of international reaction on climate change is presented. In fact, countries have adopted the United Nations Framework Convention on Climate Change that has so far been ratified by 192 countries. In 1997, the Kyoto Protocol as a binding GHG reduction plan was adopted. In defense of the latter document, studies generally show that on a macroeconomic level the consequences of its signing are these: (1) welfare loss in terms of GDP and lost growth in EU is low; (2) it differs among economies; and (3) permit trading and permit price (in either global or regional markets) is highly correlated with the welfare loss. Therefore, this paper is useful in order to describe the attitudes and responses to the Kyoto Protocol from a global perspective in terms of global greenhouse gas emissions, efforts of different countries to achieve the Protocol requirements, and reactions and attitudes to the Kyoto Protocol. Hovi, J., Sprinz, D. F. and Bang, G. (2010). Why the United States Did Not Become a Party to the Kyoto Protocol: German, Norwegian, and US Perspectives. European Journal of International Relations, 18 (1), 129-150. The paper provides political explanation of the U.S. non-participation in the Kyoto Protocol. In fact, there presented two main reasons that gained the most support from the interviewees who took part in the research. On the one hand, the limits of presidential influence on US Congress and ratification rules caused the fact that USA only on the final stage of international negotiations did not sign the Kyoto Protocol. On another hand, the attitudes in political environment and willingness of Senate to provide a climate-friendly face of the country created the situation when the contradictory document was not supported. In general, this research emphasizes on political dimension of global climate issues and on the national government’s influence in providing common ecological strategy. Kumazawa, R. and Callaghan, M. (2012). The Effect of the Kyoto Protocol on Carbon Dioxide Emissions. Journal of Economics & Finance, 36 (1), 201-210. In this paper the impact of the Kyoto Protocol on world emissions of a greenhouse gas and carbon dioxide is investigated. In particular, the research was conducted on the basis of the panel of data from 177 countries between 1980 and 2006. The key finding of this paper is that there exist structural breaks as effects of this international agreement. While carbon dioxide emissions had declined for industrialized countries since the signing of this international agreement, the level of income per capita increased significantly during these years. At the same time, the output has declined not only for industrialized countries but also for developing economies. However, these results are robust to the exclusion of USA and Australia as countries that had not ratified this protocol by 2006. Nevertheless, this study is useful in examination of risks that were analyzed by countries while taking a decision of signing or not signing the Kyoto Protocol. Policies that tackle the issues of global climate change (2014). New England Aquarium. Retrieved August 25, 2014, from: http://www.neaq.org/conservation_and_research/climate_change/climate_change_policy.php This website provides an up-to-date vision towards global climate change. Generally, the study examines the consequences of 2008 carbon tax implementation. In particular, the gas price shot up to $4.00 per gallon; hence, people started to buy more cars than SUVs. As a result, non-carbon fuels and technologies like solar or wind power appear as alternative sources for the new climate change policy in the United States. And so, this source provides the overview of carbon emissions reduction as the possible driving force for USA to sign the Kyoto Protocol. Read More