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Beyond Kyoto: Some Thoughts on the Past, Present, and Future

In: How I Saw It Analysis and Commentary on Environmental Finance (1999–2005)

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  • Richard L. Sandor

Abstract

It’s been a long journey, spanning more than a dozen years and four continents. The first steps were taken in Rio de Janeiro. Five years later, an international treaty emerged in Kyoto. Six years later, the first rules-based, multisectoral marketplace began in Chicago and a mere two years later the European Union (EU) Emissions Trading System (ETS) got started. This pilot has been extraordinarily successful in a short time but the future task of successfully implementing the Kyoto Protocol is formidable. The post-Kyoto period presents an even greater set of challenges. But all of these hurdles look less daunting in view of our experiences over the past 13 years…

Suggested Citation

  • Richard L. Sandor, 2017. "Beyond Kyoto: Some Thoughts on the Past, Present, and Future," World Scientific Book Chapters, in: How I Saw It Analysis and Commentary on Environmental Finance (1999–2005), chapter 60, pages 253-260, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813202658_0060
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    Keywords

    Environment; Emissions; Trading; Finance; Derivatives; Water; Energy; Carbon; Catastrophe; Weather; Sustainability; Fisheries; Greenhouse Gases; Sulfur Dioxide; Acid Rain;
    All these keywords.

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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