Approaches to Mitigate Climate Change
2.3.1 Strategic and Policy Solutions
As emitted greenhouse gases disperse evenly across the globe, independent of their origin, international cooperation and collaboration in policy development and implementation are the tentative solution to address the adverse effect of global warming. The researchers further highlight that countries that are party to the Kyoto Protocol are provided with three flexibility mechanisms that facilitate the reduction of emission levels by the countries, thereby improving the economic efficiency of reductions and making it easier to adhere to the policy.
One of these was emissions trading which allowed countries emitting greenhouse gases to lower them below established levels and subsequently, trade the excess emission reductions at a different source either inside or outside the country (Skjærseth and Wettestad, 2016). Secondly was the joint implementation strategy, whereby developed countries would work with others to reduce greenhouse emissions, for instance by setting up carbon sinks such as forests, and sharing the generated emission reduction units accordingly (McKinney et al., 2012). The third approach was the Clean Development Mechanism (CDM) which involved the use of certified projects in developed countries to reduce emissions in developing countries, and as a result earning certified emission units that could be used against the country’s reduction commitment