Carmen Bunzl - Universidad Pontificia Comillas

Chapter 5. Conclusions 240
reductions are not treated with urgency, as they may prefer approaches that
prepare them to act later, e.g. technology development.
Some other country groups, such as the EU, emphasize the environmental
aspect of the problem, so that keeping global emissions low has the highest
priority. Urgency to act is stressed by these countries. They want certainty on
low global emission levels, they may not accept an agreement that would
minimize the costs but it is unclear whether the long-term objective of the
Convention can be met. They would prefer to work towards defining a joint
long-term goal.
Nevertheless, there is broad consensus that the next agreement must
stimulate substantial, cost-effective emissions abatement. Lower costs of
implementation can facilitate greater participation and compliance with climate
goals. In a world with scarce resources, the most cost-effective the means are,
the more feasible an ambitious goal is.
Stringency in setting emission reduction obligations is relevant to ensure that
market carbon prices remain sufficiently high to drive mitigation action. The
high potential for offsets could result in carbon prices being too low to bring
about sufficient mitigation. Even though carbon markets are regarded as being
environmentally effective, their outcome would largely depend on the level and
stability of the price set for carbon. At the moment, governments do not have
the sufficient power or recognition to be able to fix a sufficiently high carbon
price for emission reductions to happen – there will be no significant
technological change or the needed changes in consumer’s behavior. The
climate change problem is urgent, action ‘was needed yesterday’; command
and control measures may be more effective as a first step in combating climate
change – e.g. changing all light-bulbs for efficient ones. Although carbon price
based measures are theoretically or apparently environmentally effective, at the moment
they cannot be implemented in such a stringent manner that would lead to the
necessary emissions stabilization level.
Escuela Técnica Superior de Ingeniería ICAI Carmen Bunzl Boulet Junio 2008