Contents

• Executive summary
• Introduction
• Climate change
• Global economy
• Kyoto protocol
• Strategy design
• Recommendations
• Conclusion
• References

Description

Addressing the issue of global warming involves our understanding of the science of climate change along with the surrounding economic environment. In this context, universal participation at a harmonized level is significant. At the same time, the relevance of Kyoto Protocol is also a serious eco-political concern for countries. The acceptance of the implementation of Kyoto Protocol by 178 out of 179 countries at Bonn, Germany on 23rd July 2001 itself is a significant testimony to the united battle against global warming (Nordhaus 2001). Current global economy is already witnessing large-scale long-term future consequences on environmental amenities. While some evidences strongly indicate that global warming is already affecting water cycles as well as eco systems across the world, many economic analysts are with the view that the total impact of global warming will not be affecting us for another 50 years or so. In any way, the ghost of global warming is already under way, and we can clearly see the impacts howsoever small or irrelevant.
The abating of greenhouse gas emissions is another relevant objective in our attempt to fight global warming. Emission abatement is closely related to climate change. Any country closer to the equator is more likely to suffer the damage from global warming and hence, it can gain significantly from emission abatement. Climate change in a country can be determined by a number of factors including its geophysical characteristics, and ‘socio-institutional and infrastructural capacity’ (Neumayer 1999). One of the most significant consequences caused by climate change is the changing economic picture of the world as a whole. Environmental imbalance is determining and rewriting new rules for business, investors and consumers. In other words, climate change has been the main cause behind the changes happening in businesses.
Protecting the climate includes a lot of strategic planning and implementation approaches. But before anything else, what matters the most is our understanding of the gravity of global warming and its impacts. As different countries and companies are inclined to various sets of rules and economic decisions, it is important for industrialized nations to come together under one roof and decide on common mutual grounds the strategic business decisions that can change their political collaboration and economic attitudes at international level. This change has to be progressive if we want to look toward a clean and pollution-free world. In this context, developing global frameworks (such as the Kyoto Protocol) will be quite rewarding as facing global warming itself is a unified approach. The most effective step is developing and advancing technologies. Both developed and developing countries should proceed to expand new technologies equipped with environmentally efficient amenities. Besides, industrialized countries should aim at creating new market potentials with more economic opportunities and advantages.