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Abstract
As negotiations proceed for the post-Kyoto climate change regime, major obstacles stand in the path to their successful completion.
The Corporate Greenhouse addresses the political economy of the climate change debate, questioning the disconnect between the current negotiation framework, based around the nation-state, and the neoliberal policies driving the world economy, organized around transnational corporations. Given the rapidly growing economic power and expanding carbon footprint of China, India and other developing economies, the debate on 'who is to blame, and who is to pay' can no longer be ignored.
Carefully researched and sourced from original work and case studies, The Corporate Greenhouse explores the geopolitical division between North and South; questions the sustainability of capitalism in the current global economic environment; examines the impact of TNCs on worldwide CO2 emissions; and discusses the expected outcome of the EU Emissions Trading Scheme on corporate investment strategies.
This timely book argues that treaties that fail to account properly for the activities of TNCs will preclude effective, equitable solutions to the urgent issue of global climate change.
'I recommend it highly: it is vital, insightful reading for anyone interested in carbon trading, climate mitigation, international relations, and the pervasive role of mega-corporations in our world today.'
William F. Laurance, Smithsonian Tropical Research Institute, Panama
'What a timely book. By situating the debate on climate negotiations in the broader context of globalisation, liberalisation and intensified competition, the text highlights the ambiguous roles that corporations are playing in shaping the prospects for and the impacts of climate change agreements.'
Andy Gouldson, University of Leeds
'In the wake of the global financial crisis and in the early days of a new U.S. administration, this book offers valuable insights into what has gone wrong with climate policy in the past, and where solutions may lie.'
Caspar Henderson
Yda Schreuder is an Associate Professor of Geography and a Senior Policy Fellow in the Center for Energy and Environmental Policy at the University of Delaware, USA. She has co-authored and published her work on the Corporate Greenhouse in The Bulletin of Science, Technology and Society, and Energy and Environment.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Acknowledgements | vii | ||
| Introduction | 1 | ||
| 1 Climate-change policy in a globalizing world | 8 | ||
| The Kyoto Protocol | 11 | ||
| 2 From Rio to Kyoto and beyond | 33 | ||
| The UN North–South debates | 33 | ||
| 3 Trade liberalization, economic development and the environment | 69 | ||
| Is capitalism sustainable? | 69 | ||
| Neoliberalism and the Washington Consensus | 74 | ||
| 4 The transnational corporation and the global economy | 100 | ||
| Foreign trade and the transnational corporation | 100 | ||
| 5 The EU Emissions Trading Scheme in the corporate greenhouse | 122 | ||
| The EU cap-and-trade system | 122 | ||
| The EU Emissions Trading Scheme under the Kyoto Protocol | 125 | ||
| 6 The Clean Development Mechanism in the corporate greenhouse | 163 | ||
| CDM and JI under the Kyoto Protocol and EU ETS | 163 | ||
| 7 Towards a more equitable and sustainable climate-change regime | 194 | ||
| Politics and climate-change policy | 194 | ||
| The corporate greenhouse | 199 | ||
| Equity, sustainability and burden-sharing | 204 | ||
| The standoff between the US and the EU | 209 | ||
| How to deal with CO2 ‘embodiment’ in global trade | 213 | ||
| Appendix Change in greenhouse-gas emissions 1990–2005 | 218 | ||
| Notes | 219 | ||
| Introduction | 219 | ||
| Chapter 1 | 219 | ||
| Chapter 2 | 222 | ||
| Chapter 3 | 226 | ||
| Chapter 4 | 231 | ||
| Chapter 5 | 235 | ||
| Chapter 6 | 241 | ||
| Chapter 7 | 245 | ||
| Index | 249 | ||
| Figures, tables and boxes | vi | ||
| Box 1.1 The Kyoto Protocol | 12 | ||
| Greenhouse gas emissions: the record | 19 | ||
| Table 1.1 Carbon emissions in China, India, Europe, Japan and the United States | 22 | ||
| Economic growth, energy use and GHG emissions in China and India | 24 | ||
| Box 1.2 Whose emissions are they anyway? The case of BP | 29 | ||
| The global economy and climate-change policy | 31 | ||
| Box 2.1 The Rio Declaration | 36 | ||
| A common future? | 41 | ||
| The UN as forum for international debate on the environment and development | 43 | ||
| Box 2.2 The New International Economic Order | 47 | ||
| The climate change treaty: the Rio conference and the Kyoto Protocol | 50 | ||
| Box 2.3 Agreements reached at COP6-bis | 53 | ||
| Box 2.4 The main decisions made at COP7 | 55 | ||
| Equity and sustainability: the North–South divide | 56 | ||
| Box 2.5 Johannesburg Declaration on Sustainable Development | 58 | ||
| Box 3.1 Policy recommendations of the Washington Consensus | 76 | ||
| Structural adjustment programmes | 79 | ||
| The World Trade Organization | 84 | ||
| Box 3.2 WTO framework for trade policies | 86 | ||
| Economic globalization and the environment | 92 | ||
| Box 4.1 Transnational corporations as global economic actors | 102 | ||
| Foreign direct investment and the transnational corporation | 103 | ||
| Intra-firm trade, transfer pricing and production chains | 107 | ||
| Box 4.2 Summary on intra-firm trade and transfer pricing | 109 | ||
| Managing the global commons in the era of globalization | 111 | ||
| The corporate threat to the global atmospheric commons | 115 | ||
| Box 5.1 Flexible mechanisms of the Kyoto Protocol | 127 | ||
| The impact of the EU ETS on energy- and carbon-intensive industries | 133 | ||
| Box 5.2 Sector-specific impacts of the EU ETS | 139 | ||
| Trade liberalization, the EU ETS and carbon leakage | 145 | ||
| Box 5.3 Four factors of importance in simulation models for carbon leakage | 147 | ||
| Spillover effects of the EU ETS | 149 | ||
| The expansion of energy-intensive production in China | 152 | ||
| Box 5.3 Four factors of importance in simulation modelsfor carbon leakage | 147 | ||
| Box 5.4 Aluminium production in China | 156 | ||
| From ‘going it alone’ to ‘all on board’ | 160 | ||
| Box 6.1 ‘Additionality’ in CDM parlance | 170 | ||
| Technology transfer, energy efficiency and renewable energy | 174 | ||
| Box 6.2 The Enron Corporation and emissions trading | 184 | ||
| But there is profit in saving the Earth! | 188 | ||
| CDM projects and energy companies in the global economy | 191 | ||
| Table 1.1 Carbon emissions in China, India, Europe, Japan \rand the United States | 22 | ||
| Table 4.1a Changes in world steel production, 1996–2006 | 119 | ||
| Table 4.1b Changes in world steel exports, 1995–2005 | 119 | ||
| Figure 1.1 The global economy and climate-change policy | 27 | ||
| Figure 2.1 CO2 from fossil fuels under the CEEP scenario | 61 | ||
| The ecologically slippery slope | 66 | ||
| Figure 3.1 Environmental Kuznets curve | 93 | ||
| Figure 3.2 Income effects on CO2 emissions, USA 1990 | 94 | ||
| The development of a fossil-fuel-based infrastructure | 96 | ||
| Figure 5.1 The impact of the EU ETS on power prices, 2005 | 136 | ||
| Sector-specific impacts of the EU ETS | 138 | ||
| Figure 6.1 Projects registered by the CDM executive board | 167 | ||
| Figure 6.2 ODA and FDI, 2002 | 177 | ||
| Privatization of energy markets | 182 |