The Kyoto Protocol (Japanese: 京都議定書, Hepburn: Kyōto Giteisho) was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change (UNFCCC) that commits state parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is occurring and that human-made CO2 emissions are driving it. The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005. There were 192 parties (Canada withdrew from the protocol, effective December 2012) to the Protocol in 2020.
Environmental finance is a field within finance that employs market-based environmental policy instruments to improve the ecological impact of investment strategies. The primary objective of environmental finance is to regress the negative impacts of climate change through pricing and trading schemes. The field of environmental finance was established in response to the poor management of economic crises by government bodies globally. Environmental finance aims to reallocate a businesses resources to improve the sustainability of investments whilst also retaining profit margins.
A carbon offset is a reduction or removal of emissions of carbon dioxide or other greenhouse gases made in order to compensate for emissions made elsewhere. A carbon credit or offset credit is a transferrable financial instrument (i.e. a derivative of an underlying commodity) certified by governments or independent certification bodies to represent an emission reduction that can then be bought or sold. Both offsets and credits are measured in tonnes of carbon dioxide-equivalent (CO2e). One carbon offset or credit represents the reduction or removal of one ton of carbon dioxide or its equivalent in other greenhouse gases.
The European Union Emissions Trading System is a "cap and trade" scheme intended to lower greenhouse gas emissions. Cap and trade schemes limit emissions of specified pollutants over an area and allow companies to trade emissions rights within that area. It covers around 45% of the EUs greenhouse gas emissions.
Carbon accounting is a framework of methods to measure and track how much greenhouse gas (GHG) an organization emits. It can also be used to track projects or actions to reduce emissions in sectors such as forestry or renewable energy. Corporations, cities and other groups use these techniques to help limit climate change. Organizations will often set an emissions baseline, create targets for reducing emissions, and track progress towards them. The accounting methods enable them to do this in a more consistent and transparent manner.
The Australia Institute is a public policy think tank based in Canberra, Australia. Since its launch in 1994, it has carried out research on a broad range of economic, social, and environmental issues.
The energy policy of Australia is subject to the regulatory and fiscal influence of all three levels of government in Australia, although only the State and Federal levels determine policy for primary industries such as coal. Federal policies for energy in Australia continue to support the coal mining and natural gas industries through subsidies for fossil fuel use and production. Australia is the 10th most coal-dependent country in the world. Coal and natural gas, along with oil-based products, are currently the primary sources of Australian energy usage and the coal industry produces over 30% of Australia's total greenhouse gas emissions. In 2018 Australia was the 8th highest emitter of greenhouse gases per capita in the world.
The Climate Change Committee (CCC), originally named the Committee on Climate Change, is an independent non-departmental public body, formed under the Climate Change Act (2008) to advise the United Kingdom and devolved Governments and Parliaments on tackling and preparing for climate change. The Committee provides advice on setting carbon budgets, and reports regularly to the Parliaments and Assemblies on the progress made in reducing greenhouse gas emissions. Notably, in 2019 the CCC recommended the adoption of a target of net zero greenhouse gas emissions by the United Kingdom by 2050. On 27 June 2019 the British Parliament amended the Climate Change Act (2008) to include a commitment to net zero emissions by 2050. The CCC also advises and comments on the UK's progress on Climate change adaptation through updates to Parliament.
The Carbon Pollution Reduction Scheme was a cap-and-trade emissions trading scheme for anthropogenic greenhouse gases proposed by the Rudd government, as part of its climate change policy, which had been due to commence in Australia in 2010. It marked a major change in the energy policy of Australia. The policy began to be formulated in April 2007, when the federal Labor Party was in Opposition and the six Labor-controlled states commissioned an independent review on energy policy, the Garnaut Climate Change Review, which published a number of reports. After Labor won the 2007 federal election and formed government, it published a Green Paper on climate change for discussion and comment. The Federal Treasury then modelled some of the financial and economic impacts of the proposed CPRS scheme.
Professor Ross Garnaut led two climate change reviews, the first commencing in 2007 and the second in 2010.
Emission trading (ETS) for carbon dioxide (CO2) and other greenhouse gases (GHG) is a form of carbon pricing; also known as cap and trade (CAT) or carbon pricing. It is an approach to limit climate change by creating a market with limited allowances for emissions. This can lower competitiveness of fossil fuels and accelerate investments into low carbon sources of energy such as wind power and photovoltaics. Fossil fuels are the main driver for climate change. They account for 89% of all CO2 emissions and 68% of all GHG emissions.
Greenhouse gas emissions by Australia totalled 533 million tonnes CO2-equivalent based on greenhouse gas national inventory report data for 2019; representing per capita CO2e emissions of 21 tons, three times the global average. Coal was responsible for 30% of emissions. The national Greenhouse Gas Inventory estimates for the year to March 2021 were 494.2 million tonnes, which is 27.8 million tonnes, or 5.3%, lower than the previous year. It is 20.8% lower than in 2005. According to the government, the result reflects the decrease in transport emissions due to COVID-19 pandemic restrictions, reduced fugitive emissions, and reductions in emissions from electricity; however, there were increased greenhouse gas emissions from the land and agriculture sectors.
The Asia-Pacific Emissions Trading Forum (AETF) was an information service and business network dealing with domestic and international developments in emissions trading policy in Australia and the Asia-Pacific region. The AETF was originally called the Australasian Emissions Trading Forum, and was founded in 1998 under the auspices of the Sydney Futures Exchange following a proposal from Beck Consulting Services. From 2001 until 2011 the AETF published the AETF Review, held regular member meetings and convened numerous events and conferences. The AETF Review was published six times per year and included original articles on emissions trading developments and related topics.
The climate change policy of the United States has major impacts on global climate change and global climate change mitigation. This is because the United States is the second largest emitter of greenhouse gasses in the world after China, and is among the countries with the highest greenhouse gas emissions per person in the world. In total, the United States has emitted over 400 billion metric tons of greenhouse gasses, more than any country in the world.
The Kyoto Protocol was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change. A number of governments across the world took a variety of actions.
In 2020, net greenhouse gas (GHG) emissions in the United Kingdom (UK) were a little over 400 million tonnes (Mt) carbon dioxide equivalent, of which about 320 Mt was carbon dioxide. The government estimates that emissions increased by 6% in 2021 with the easing of COVID-19 restrictions, about half of the increase being due to the extra road transport. The UK has over time emitted about 3% of the world total human caused CO2, with a current rate under 1%, although the population is less than 1%.
A carbon pricing scheme in Australia was introduced by the Gillard Labor minority government in 2011 as the Clean Energy Act 2011 which came into effect on 1 July 2012. Emissions from companies subject to the scheme dropped 7% upon its introduction. As a result of being in place for such a short time, and because the then Opposition leader Tony Abbott indicated he intended to repeal "the carbon tax", regulated organizations responded rather weakly, with very few investments in emissions reductions being made. The scheme was repealed on 17 July 2014, backdated to 1 July 2014. In its place the Abbott government set up the Emission Reduction Fund in December 2014. Emissions thereafter resumed their growth evident before the tax.
The Clean Energy Regulator is an Australian independent statutory authority responsible for implementing legislation to reduce carbon emissions and increase the use of clean energy. Based in Canberra, Australia, the Clean Energy Regulator was established on 2 April 2012 under the Clean Energy Regulator Act 2011. The agency is part of the Climate Change, Energy, the Environment and Water portfolio.
The history of climate change policy and politics refers to the continuing history of political actions, policies, trends, controversies and activist efforts as they pertain to the issue of global warming and other environmental anomalies. Dryzek, Norgaard, and Schlosberg suggest that critical reflection on the history of climate policy is necessary because it provides 'ways to think about one of the most difficult issues we human beings have brought upon ourselves in our short life on the planet’.
The Climate Change Commission is an independent Crown entity that advises the New Zealand Government on climate change policy and monitors the government's progress towards New Zealand's emission reduction goals within the framework of the Climate Change Response Amendment Act. The Commission was established as the successor to the Interim Climate Change Committee following the passage of the Zero Carbon Act in November 2019.
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