Emissions Trading Scheme and Globalisation

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Around the world, markets that are focussed on issuing permits to allow the emitting of greenhouse gases, and earning credits by not emitting them are fast emerging (MacKenzie, 2009), with countries such as New Zealand taking part in what is known as an Emissions Trading Scheme. Carbon markets have increasingly become a way of addressing greenhouse mitigation, and essentially climate change, as a result of the Kyoto Protocol and subsequent intergovernmental emissions trading scheme (Stephan & Paterson, 2012). This essay will begin by addressing what the emissions trading scheme is, its background and the subsequent introduction of carbon markets. It will then discuss how the ETS connects on an international scale. It will also discuss the presence of the ETS in New Zealand, with the effects of its implementation on lives and industry. This essay will then finish by discussing what is being gained and lost as a result of the ETS, and conflicts that surround the ETS and in fact all environmental policy around the world. The ETS is an example of how values systems around the world can entangle when a significant problem such as climate change threatens the global economy and its people. The intergovernmental emissions trading scheme encompasses an international joint action plan brought about through the United Nations and the creation of the Kyoto Protocol (New Zealand Climate Change Programme, 2001). The Kyoto Protocol is the world’s first international treaty on climate change and was adopted at the Earth Summit in Rio de Janerio in 1992, and has been ratified by 154 countries (Renowden, 2007). The protocol itself contains provisions for a cap and trade market between nation states (MacKenzie, 2009). An emissions trading scheme m... ... middle of paper ... .... New Zealand Energy Greenhouse Gas Emissions Report . Ministry of Business, Innovation and Employment. New Zealand Climate Change Programme. (2001). Kyoto Protocol : Ensuring our Future. Wellington, New Zealand: The Ministry for the Environment. Renowden, G. (2007). Hot Topic: Global warming and the future of New Zealand. Auckland: AUT Media. Sauquet, A. (2012). Exploring the nature of inter-country interactions in the process of ratifying international environmental agreements: The case of the Kyoto Protocol. Public Choice , 141-158. Stephan, B., & Paterson, M. (2012). The politics of carbon markets: an introduction. Environmental politics, 21:4 , pp. 545-562. United Nations Convention on Climate Change. (2014). Kyoto Protocol. Retrieved May 11, 2014, from United Nations Framework Convention on Climate Change: http://unfccc.int/kyoto_protocol/items/2830.php

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