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Evaluating the Bonn-Marrakesh agreement

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  • Michel G.J. den Elzen
  • Andr� P.G. de Moor

Abstract

This article evaluates the environmental effectiveness and economic efficiency of the Kyoto Protocol after the Bonn Agreement and the Marrakesh Accords. The US withdrawal has by far the greatest impact in reducing the environmental effectiveness, lowering the price of traded emission permits and reducing Annex I abatement costs. The decisions on sinks imply that the Annex I CO 2 -equivalent emissions without the US will come out at about 1/2% below base-year level, instead of over 4% below base-year level. Without US participation, the emission permit price is estimated to be low. Therefore, banking hot air by Russia and the Ukraine is of absolute importance for the development of a viable emissions trading market, and would also enhance the environmental effectiveness of the Kyoto Protocol.

Suggested Citation

  • Michel G.J. den Elzen & Andr� P.G. de Moor, 2002. "Evaluating the Bonn-Marrakesh agreement," Climate Policy, Taylor & Francis Journals, vol. 2(1), pages 111-117, March.
    • Handle: RePEc:taf:tcpoxx:v:2:y:2002:i:1:p:111-117
    DOI: 10.3763/cpol.2002.0210
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    References listed on IDEAS

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    1. Böhringer, Christoph, 2001. "Climate politics from Kyoto to Bonn: from little to nothing?!?," ZEW Discussion Papers 01-49, ZEW - Leibniz Centre for European Economic Research.
    2. Odile Blanchard & Patrick Criqui & Alban Kitous, 2002. "After The Hague, Bonn and Marrakech : the future international market for emissions permits and the issue of hot air," Post-Print halshs-00196364, HAL.
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    Cited by:

    1. Leo Schrattenholzer & Gerhard Totschnig, 2005. "An Analysis of Alternative Emission Trading Strategies of Parties to the Kyoto Protocol," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 74(2), pages 217-234.
    2. Kerkelä, Leena, 2009. "Essays on globalization - Policies in trade, development, resources and climate change," Research Reports 50, VATT Institute for Economic Research.
    3. Kerkelä, Leena & Pohjola, Johanna & Mäkipää, Raisa, 2003. "Who Gains from Credited Forest Carbon Sinks: Finland and other Annex I Countries in Comparison," Discussion Papers 291, VATT Institute for Economic Research.
    4. Lecocq, Franck & Crassous, Renaud, 2003. "International climate regime beyond 2012 - are quota allocation rules robust to uncertainty?," Policy Research Working Paper Series 3000, The World Bank.
    5. den Elzen, Michel & Höhne, Niklas & van Vliet, Jasper, 2009. "Analysing comparable greenhouse gas mitigation efforts for Annex I countries," Energy Policy, Elsevier, vol. 37(10), pages 4114-4131, October.
    6. Springer, Urs, 2003. "The market for tradable GHG permits under the Kyoto Protocol: a survey of model studies," Energy Economics, Elsevier, vol. 25(5), pages 527-551, September.
    7. Kerkelä, Leena, 2009. "Essays on globalization - Policies in trade, development, resources and climate change," Research Reports P50, VATT Institute for Economic Research.

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