The Kyoto Protocol was initially adopted on 11 December 1997 in Kyoto and Canada was one of the proactive countries in its implementation. However, on 13th December 2011, Peter Kent, the environment minister, announced that Canada was withdrawing from the agreement becoming the first country to do so. So, why the reversal of the commitment to the cause of reducing CO2 emissions?
From its inception, Canada’s Kyoto target was a 6% total reduction in CO2 emissions by 2012 relative to 1990 levels. However, all the positive rhetoric did not materialise and Canada has struggled to control, let alone, reduce its emissions. Between 1990 and 2009 emissions were 17% higher as free market policies of the Prime Minister Stephen Harper started to become much more prevalent in the economy.
It seems that the Canadian government is more concerned with the health of their economy rather than the planet. With rising oil prices it will make it even more attractive to extraction of oil from the Alberta tar sands – the only worry being that it will increase considerably the CO2 emissions in the atmosphere. It’s a choice of more growth or increasing CO2 emissions.
The above is a brief extract from an article published in this month’s econoMAX – click below to subscribe to econoMAX the online magazine of Tutor2u. Each month there are 8 articles of around 600 words on current economic issues.