Signed in 1997 by most of developed and developing nations except USA and Australia. Here it was decided that the industrial nations should reduce their overall CO2 emissions in the period from 2008 to 2012 by about 20% below what they would otherwise have been. The question is “Is Kyoto protocol cost effective?”.
My answer is May be Not! Even if almost all countries sign it, and all countries live up to their commitments and stick to them throughout the 21’st century (which is impossible), the change will be minuscule. The temperature by 2050 will be an immesurable 0.1 degree F lower and even by 2100 only 0.3 degree F. lower. This means that the expected temperature increase of 4.7 degree F. will be postponed just by five years, from 2100 to 2105.
This data should be scientifically entirely uncontroversial as the five-year postponement over one hundred years is derived from work by one of IPCC’s foremost modelers.
Refer: Bohringer, C., & Vogt, C. (2003). Economic & environmental impacts of the Kyoto. Canadian journal of economics, 36(2), 475-494 for more details.
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