ABSTRACT
Developed as well as developing countries are required to participate and cooperate in global governance initiatives responding to climate change. The financial crisis of 2008 constrained international negotiations, on global climate change, which resulted in the fruitlessness of the Copenhagen Summit. The slow recovery of the global economy following the crisis has also, to some extent, inhibited country-based implementation of energy-saving/emission-reducing actions. None of the developed countries, represented by prominent Western countries, have succeeded in achieving the emission reduction targets specified in Kyoto Protocol. As signatories of the Paris Agreement developed and developing countries have succeeded in temporarily avoiding the prevailing prisoner's dilemma relating to global governance of climate change. The Tony Blair Report informed political leaders that while economic losses resulting from efforts to address climate change have little impact on national economies, delayed action will increase emission reduction costs. The Blair Report explores 10 crucial elements within the Copenhagen agenda for establishing an effective, economical, and equitable convention.
