ABSTRACT
Five years down the road from Kyoto, the protocol that bears that city's name is finally inching towards ratification. It has been a tortuous journey: the political process stands much bruised, and the substance of the protocol has been much diluted. While its eventual ratification will be a moment to celebrate, there is no cause to be complacent. Although the Kyoto Protocol is a step in the right direction, it is a very small step at best. Moreover, what was always a desirable but imperfect agreement has been made all the more imperfect by the fact that the world's largest polluter has decided to stay out of the agreement, while those who have agreed to join have demanded and received changes that have weakened the protocol considerably. It is time to begin thinking about the shape of the global climate regime in its post-Kyoto phase. This chapter begins doing so from the perspective of the developing countries of the South. The principal argument is that we need to return to the basic principles outlined in the Framework Convention on Climate Change in searching for a new North–South bargain on climate change. Such a bargain may be achievable if we can construct a new policy architecture that places sustainable development at its core.
