PLEA Network

5 October 2015, Science Daily, Global climate agreements could be counterproductive. International climate agreements like the Kyoto Protocol may discourage much-needed investment in renewable energy sources, and hence be counterproductive, according to new research. The climate formula. The world’s environmentalists are counting down to the upcoming UN climate summit in Paris. However, such climate agreements could be counterproductive. Bård Harstad is a professor of economics at the University of Oslo and has done research on climate agreements and international cooperation for many years. In the recent journal article “The Dynamics of Climate Agreements,” Harstad analyses the connections between emissions, negotiations, and the development of new technology. His findings reveal weaknesses of today’s system, but also show how international climate agreements should be designed in order to better stimulate the development of new technology. The bad news is that international climate agreements, like the Kyoto Protocol, may discourage much-needed investment in renewable energy sources. “The main problem with emission agreements, such as the Kyoto Protocol, is that they do not provide incentives to invest in green technology because they are too short-sighted. Read More here