IIPM EDITORIAL: Montreal Protocol

It says that G8 nations must pay 80% of this cost, out of which the US should

pay 44%. But if George Bush would start doing things that he ‘must’ do, wouldn’t half the world’s problems be over? Or perhaps all! The imbroglio seems quite familiar, as the multilateral debate on climate change moves in the same direction of the WTO, where the entire process has reached, we mentioned it before, a stalemate! So is all lost? But is it too late for real action? Not quite, and thankfully so. A precedent has been established by the Montreal Protocol of 1989, which enforced a universal ban on chloroflouro carbons (CFCs). Research has shown that this landmark legislation has reduced the rate of global warming by 50% More recently, the EU has taken a landmark initiative this year. A deal has been signed by 27 leaders, which mandates a 20% cut in carbon emissions by 2020. Of course, every country has the flexibility to adopt its own means to the end. In fact, the EU is ready to reduce those emissions to 30% if the US and other developed countries join in.

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