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Economic consequences of the Kyoto Protocol

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From 7 to 18 December 2009, the United Nations member states gathered at the Copenhagen conference to renegotiate the Kyoto Protocol, which will expire in 2012. The goal of this meeting is important. Indeed, the Bali (Indonesia) summit in 2007 failed to urge states to agree on specific targets in the fight against global warming. The many current problems around the world, whether from the economic, political or human points of view, show us the many adverse effects of climate change such as famine in Africa, natural disasters and even disappearance of species. Thus, the consequences of global warming are pushing us to change our consumption patterns. We must adopt new behaviors to limit emissions of greenhouse gases and thereby reduce the average rise in temperature in the coming decades and beyond. Man must be able to switch to sustainable growth by applying different policies so as to respond more or less to equitable economic and social needs of people today without compromising the future generations.

There are obviously many economic issues. The objective of this article is to define what those issues are. The Kyoto Protocol was subjected to ratification on 16th March 1998. This protocol specifies and targets for reducing emissions of greenhouse gas emissions, and involves taking measures, both nationally and internationally. This protocol is the result of an awareness of the international community. Moreover, it set a few steps to achieve the objectives, the most important of which is surely emission limits. However, some defects are significant.

Climate change is an international issue that will eventually affect all countries sooner or later. That is why the UN General Assembly decided in 1990 to prepare a framework convention to address the problem.

In 1992, representatives from 150 countries met at the ?Earth Summit' in Rio de Janeiro, Brazil, to sign the United Nations Framework Convention on Climate Change (UNFCCC).

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