Greenhouse emission reduction and sustainable development

Sathiendrakumar, R. (2003) Greenhouse emission reduction and sustainable development. International Journal of Social Economics, 30 (12). pp. 1233-1248.

Abstract

Society has to find ways and means to reduce the emission of greenhouse gases, mainly carbon dioxide, to prevent global warming when considering inter-generational equity with respect to environmental quality. The aim of the carbon dioxide emission control is to keep the level of carbon dioxide below a certain threshold level. This paper deals with the various policy instruments that are available to control greenhouse gases such as carbon dioxide. The criteria that should be used in selecting the appropriate policy instruments in controlling carbon dioxide emissions are: efficiency, equity and flexibility. Based on these criteria, the author is of the view that in the short-run it is important for all the countries to ratify the Kyoto Protocol. However, in the long-run, it may be possible to use the Kyoto targets to achieve an international carbon dioxide emission tradable permit system.