ABSTRACT
The Kyoto Protocol provides legally binding measures to implement the agreements developed in the United Nations Framework Convention on Climate Change (UNFCCC), which aims to reduce global warming and to cope with its inevitable impacts. But “developing countries at large would suffer the negative effects of any slowdown in global growth caused by implementing the Kyoto Protocol” (Oxley and Macmillan 2004). Similar reports from other studies have caused many developing countries to be cautious in signing and ratifying the Kyoto Protocol. Moreover, they argue that the “[u]nsustainable consumption patterns of the rich industrialised
nations are responsible for the threat of climate change” (Parikh and Parikh 2002). Referring to the study of Parikh et al., (1991), Parikh and Parikh mentioned that only 25% of the global population lives in these countries, but they emit more than 70% of the total global CO2 emissions. Moreover, per capita emissions measured in metric tons are much higher in developed countries (e.g. United States 20.2, Germany 10.3, United Kingdom 9.2, etc.) than in developing countries (e.g. China 2.7, India 1.2, Philippines 0.9, etc.) (WB 2006). The interests of the latter have been defended with success in the ratified Kyoto Protocol, in which they are not required to have binding emissions targets. In addition, the Protocol offers them three market-based mechanisms to support reduction of emissions in a more flexible manner. These mechanisms are the joint implementation mechanism (JIM), clean development mechanism (CDM), and emissions trading mechanism (ETM). Among these mechanisms, CDM has a direct impact not only on promoting mitigation, but also adaptation. “A levy from each CDM project – known as a ‘share of the proceeds’ – will help finance adaptation activities in particularly vulnerable developing countries…” (UNFCCC, 2002). Because it is designed to promote sustainable development, CDM should help decrease vulnerability to the impacts of climate change in developing countries.
