RELATIONAL CHARACTERISTICS OF THE FLEXIBILITY MECHANISMS UNDER THE KYOTO PROTOCOL: IMPLICATIONS FOR SUB-SAHARAN AFRICAN COUNTRIES

One aspect of the global warming debate is the appropriate involvement of developing countries. Some countries in sub-Saharan Africa (SSA) may benefit from flexibility mechanisms of the Kyoto Protocol, aimed at helping major carbon-producing countries meet their obligations. Some institutional adjus...

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Bibliographic Details
Published in:The Journal of energy and development 2003-04, Vol.28 (2), p.265-292
Main Authors: Boadu, Fred O., Olofinbiyi, Tolulope
Format: Article
Language:English
Subjects:
Africa
Agriculture
Air pollution
Carbon sequestration
Clean Development Mechanism
Contract law
Countries
Economic aspects
Emissions reduction
Emissions trading
Environmental aspects
Environmental policy
Forest soils
Forestry
Forestry development
Forests
Global warming
Land use
Regulation
Transaction costs
Treaties
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Summary:One aspect of the global warming debate is the appropriate involvement of developing countries. Some countries in sub-Saharan Africa (SSA) may benefit from flexibility mechanisms of the Kyoto Protocol, aimed at helping major carbon-producing countries meet their obligations. Some institutional adjustments needed to enable an SSA nation to take advantage of the flexibility mechanisms are examined. Examples from the forestry and agricultural sectors illustrate how these mechanisms could benefit SSA countries. Transactional vs. relational protocol aspects are clarified. The theoretical basis for the flexibility mechanisms is explained, including costs of information, bargaining, and monitoring. Some institutional issues associated with the flexibility mechanisms are discussed (e.g., property rights/transactional costs,foreign investment, rural development policies, and availability of land for large investments), and ways that they could help define a broader rural development agenda in SSA are considered. The flexibility mechanisms represent opportunities for SSA nations to benefit economically, but these countries need to foster the relational aspects of the protocol and implement reforms that reduce transaction costs.
ISSN:0361-4476