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Although the general theory of greenhouse warming has been understood by scientists since the end of the nineteenth century, an international regime to address the problem of climate change began to develop only in the late 1980s.¹ In the decade and a half since then, the regime has undergone a remarkable evolution. In 1992, states adopted the UN Framework Convention on Climate Change (UNFCCC), which took effect in 1994 and serves as the “constitution” for the international climate change regime.² In 1997, the UNFCCC was supplemented by the Kyoto Protocol, which requires industrialized countries to reduce their emissions of carbon dioxide and five other gases that contribute to the greenhouse effect (so-called “greenhouse gases” or GHGs for short). And the 2001 Marrakesh Accords further elaborate the Kyoto Protocol's regulatory regime, setting forth detailed rules for how the Kyoto Protocol will operate.

The purpose of this study is to investigate the relationship between CO₂ emission and its core determinants, namely, economic growth, energy consumption and trade openness in the pre- and post-Kyoto Protocol era in the Indian economy.

The study uses the ARDL bounds test to analyze the long-run and short-run empirical relationship between the interested variables for the time period 1971-2013. A dummy variable representing the Kyoto Protocol regime has been included to examine the likely impact of international climate policies (Kyoto Protocol) in controlling and reducing CO₂ emission in India.

The empirical results indicate the possibility of increase in CO₂ emission from India even after the Kyoto Protocol regime. Evidence of inverted U-shaped relationship between CO₂ emission and economic growth (EKC hypothesis) has been confirmed. However, compared to increase in CO₂ emission, the magnitude of decrease due to improvement in economic growth is relatively lesser. Energy consumption and trade openness are also found to increase CO₂ emission.

The results indicate that there is a lack of commitment on the part of India to curtail CO₂ emission, which can be disastrous for future prosperity. Financing the renewable electricity generation, R&D subsidy and tax-free renewable energy seems to be imperative to address this catastrophic problem.

This study is the first attempt to analyze the impact of international climate policy (Kyoto Protocol) on CO₂ emission by incorporating a fixed dummy in the ARDL specifications.

This article attempts to answer the question of how should institutions of higher education best go about achieving the emissions reductions specified in the Kyoto Protocol. To answer this question, it examines the efforts to make Lewis & Clark College (LCC) the first institution of higher education in the USA to actually meet the emissions targets stipulated in the Kyoto Protocol. The article concludes that LCC's strategy of offset purchasing for immediate Kyoto compliance is feasible and desirable for other institutions of higher education, particularly when combined with a program for long‐term on‐campus emissions reductions.

This paper aims to clarify the scope and content of the obligations and responsibilities which the European Community (EC) and the European Union (EU) Member States assumed under the Kyoto Protocol, including an examination of the procedures and mechanisms relating to compliance.

The paper explores the participation of the EU as a “Regional Economic Integration Organization” in the Kyoto Protocol and explores the implications of possible non‐compliance with its obligations.

While there is uncertainty, the text of the Kyoto Protocol as well as its negotiating history suggest that the EC entered into an emissions‐reduction commitment of 8 per cent additional to the obligations of EU Member States which redistributed their targets under a burden‐sharing agreement.

The paper challenges the prevalent opinion that the EC and the Member States of the EU share a common emission‐reduction target of 8 per cent under the Kyoto Protocol.

The purpose of this paper is to analyze emission trading applications in the European Union (EU) and to benefit from its experiences; also to discuss different types of energy financing mechanisms for Turkey, an emerging market which faces a fast growth of energy demand.

The Kyoto Protocol and its market‐based flexible mechanisms to reduce emissions worldwide are explained. The logic and development phases of an emission trading scheme (ETS) started in 2005 in the EU are given in response to this protocol's targets. With lessons learned from the ETS, the position of Turkey in terms of greenhouse gas emissions and its strategy to find solutions for a low carbon economy are underlined, as it can be assumed to be a reference point for other emerging markets.

This ETS became the main vehicle for EU member states to enforce themselves, to be in line with their Kyoto's emission reduction targets via some mechanisms and it has the potential to be leader in the formation of a global emission trading program. It made possible the transfer of technology and experience to emerging countries. Turkey should be aware and well prepared, for the post‐Kyoto period, to benefit from similar mechanisms to finance its energy investments.

The paper is a useful source of information for ETS.

This paper gives information on emission reduction mechanisms used worldwide by countries which aim to be a low carbon economy.

This paper fulfils a resource need for the structure of ETS and the position of Turkey as an emerging market with Kyoto's Protocol.

Estimates the cost of meeting the Kyoto Protocol with an energy‐economic optimization model. Special focus is on the Russian and Ukrainian and the potential implications of the US decision to withdraw from the Protocol. Finds that the carbon permit price can be expected to drop substantially due to US withdrawal. In fact, the aggregated emission target could be met in the absence of US participation. However, Russia and the Ukraine could be the dominant sellers of emission permits and they could increase the permit price. Clearly no climate benefits would result from trading emission permits that do not correspond to real reductions in CO₂ emissions. EU countries, Japan and Canada are not likely to be supportive of paying billions of dollars that do not result in emission reductions. One way of dealing with the Russian and Ukrainian surplus is to negotiate more stringent targets for subsequent commitment periods early, and to allow banking. The model suggests that, under these conditions, early action and banking do take place.

This chapter explains how the United Nations Framework Convention on Climate Change (UNFCCC), an important achievement of the Rio Earth Summit held in 1992, instigated interest in, and enthusiasm for, the fight against climate change in the international arena, promoting national actions, creating common frameworks and motivating corporations to take action against climate change. The Convention recognised climate change as a problem in 1994 when the UNFCCC took effect, which was remarkable considering that there was much less scientific evidence available at that time. Through extensive literature review, this chapter presents the origin and content of the Convention and explains how it creates new international instruments for mitigating climate change, its impact on corporate climate change-related accountability practices and where it stands now after 20 years in operation. The researcher argues that there is a need for strong cooperation among national and international actors such as governments, companies, national and international non-governmental organisations and international governmental organisations in order to create climate change-related accountability.

This paper aims to review the developments in India with respect to clean development mechanism (CDM) of Kyoto Protocol to assess the achievements during first Kyoto Protocol period (2008-2012) in climate change mitigation and suggest measure for better participation during the second commitment period. The paper further makes an attempt to explore the experience, concerns and expectations of the Indian project proponents of green projects registered with CDM Executive Board.

This paper employs two methods: informal interviews with executives of World Bank, Designated National Authority (DNA) of India for CDM, leading international CDM consulting firms and a questionnaire survey of Indian CDM projects proponents.

During first commitment period valid up to December 31, 2012, India remained active participant in the CDM, the only mechanism of Kyoto Protocol where developing countries can participate and join in mitigation of climate change, through the development of green projects and thereby earning additional revenue in terms of carbon finance by sale of carbon credits. The study finds out that in the global CDM experience, India's role is striking with its second highest share both in terms of number of projects registered worldwide and in generation of Certified Emission Reductions (CERs).

This paper provides several recommendations for strengthening the institutional frame work in India with respect to CDM as well as suggestions to policy makers for consideration while charting out future policies and programs addressing climate change mitigation and adaptation oriented towards better participation in climate change mitigation during the second commitment period of Kyoto Protocol.

This paper examines economic aspects of the Kyoto protocol on climate change, focusing on the protocol’s longer‐term impact and possible global evolution. Specifically, the analysis considers the economics of likely technological responses to the protocol and the implication of international dissemination of technologies and institutional practices, including the wider future development of policies and commitments. It is argued that these factors, in tandem with the protocol’s provisions on the clean development mechanism, technology transfer, and the structure of rolling commitment periods, mean that the protocol offers an effective basis for long‐term solutions to the problem of climate change.

This paper presents the theory of the global environmental system to explain the different climate change regimes emerging from advanced industrialized nations. Using data collected regarding the formation of domestic climate change regimes in the United States, Japan, and the Netherlands, the specifics of the theory are outlined. I begin by analyzing the expectations of some of the more prominent sociological theories about the society‐environment relationship in the advanced world finding that they do not explain the disparate responses to the regulation of greenhouse gases in these countries. The theory of the global environmental system is proposed as an alternative to the rather extreme expectations of the sociological literature on society/environment relationships. Through this proposed theory, we can better understand successful cases of global climate change regimes within the context of the interrelations among domestic and international actors.