Overview of regulatory/policy/economic issues related to carbon dioxide

This is an overview of Session 2c dealing with the regulatory, policy and economic issues related to carbon dioxide and its impact on global climate change. The information is taken from the two papers presented in this session (the U.S. Perspective by Dennis Leaf and the European Perspective by Hans J.H. Verolme) and from the panel discussion that took place at the end of the session. The overview focuses primarily on the policy responses of both the United States (US) and the United Kingdom (UK) to changes in global atmospheric pollution. To a lesser extent, the progress of policy responses to these changes is discussed. The United Nations Framework Convention on Climate Change (UNFCCC) has been signed and ratified by over 180 countries. The UNFCCC contained no binding targets or timetables for emissions reductions. The Kyoto Protocol [United Nations. Kyoto Protocol to the United Nations Framework Convention on Climate Change. UNEP.IUC/99/10. Chatlelaine, Switzerland: United Nations Environment Programme's Information Unit for Conventions, for the Climate Change Secretariat, 1997] to the UNFCCC did contain targets and timetables for reductions of greenhouse gases on the part of developed countries. The US has signed but not ratified the Kyoto Protocol. The US has experienced some movement to reduce greenhouse gas emissions on the part of various levels of government, as well as the private sector. The UK's commitment to reducing green house gases is laid down in the UK Climate Change Programme 2000. The UK is a member of the European Union (EU). In this context, an example of EU-wide progress, the voluntary agreement with car manufacturers to reduce CO(2) emissions in new vehicles, will be discussed. In addition, there will be some discussion on the UK CO(2) trading scheme that created the first market in the world in April 2001. Overall, the policy process is constantly informed by scientific research. In the case of climate change, much of this work is carried out under the auspices of international scientific panels.