During the UNFCCC conference of
parties in Durban, South Africa, nations came together to try to salvage the
Kyoto Protocol beyond its first commitment period. Let us step back for a
moment and question just how far the Kyoto Protocol goes, and see if saving it
would be enough.
According to the IEA World Energy
Outlook 2010 projections, the future fossil fuel prices will be significantly
higher in a scenario of limited global action against climate change. So the
answer to the first part of the title question is obvious: oil producing
countries and corporations. Does the Kyoto Protocol reflect this reality?
Clearly.
Among the thirty largest oil
producers (considering crude oil extraction and refinery products production),
there are only six developed countries listed as Annex I parties to the Kyoto
Protocol (Russia, USA, Canada, Norway, the United Kingdom, and Australia). Of
those, the Kyoto Protocol only established GHG reduction targets beyond the
1990 emissions level to three: USA, Canada, and UK.
Now let us examine the energy
consumption side. The top ten energy consumers are China, USA, India, Russia,
Japan, Germany, Brazil, France, Canada, and South Korea (Global Energy
Stastistical Yearbook 2011, Enerdata). Developing countries are not subject to
the legally binding restrictions under the Kyoto Protocol (China, India,
Brazil, and South Korea). Russia, undergoing the transition process to a market
economy, does not have to reduce emissions beyond 1990 levels, sufficing to
maintain them. Of these large energy consumers, and hence large GHG emiters,
the Kyoto Protocol only established reduction targets beyond the 1990 emissions
level to five: USA, Japan, Germany, France, and Canada. As is common knowledge,
the USA never ratifyed the protocol, and Canada officially “droped out” in Durban.
So to summarize, currently only
three (Japan, Germany, and France) of the ten largest energy consumers, and
only one (UK) of the thirty largest oil producers are legally bound to reduce
their GHG emissions beyong 1990 levels under the Kyoto Protocol... We do need
to go beyond the Kyoto Protocol.
Nevertheless, this post ends with a positive keynote. During the UNFCCC
conference of parties in Durban, South Africa, large emerging economic powers
such as China, India and Brazil agreeded, for the first time in history, to set
legally binding constraints to their greenhouse gases emissions (GHG). This is
perhaps the recognition that the old development model reliant on cheap fuel
consumption is no longer viable, for both economic, social and environmental
reasons. Developing countries already share the vision of a low-carbon future,
built on renewable energies and energy efficiency.
Sources:
- IEA World Energy
Outlook 2010;
- A Roadmap for moving to a competitive low carbon economy in 2050, European Commission, 2011;
- Global Energy
Stastistical Yearbook 2011, Enerdata;
- Kyoto Protocol (available at UNFCCC's website);
- Financial Times, December 15, 2011;
- http://en.wikipedia.org/ (oil producing countries' data).
