(1) The Kyoto Treaty was always a flawed treaty. It failed to cover developing nations – who will account for 50% of greenhouse gas emissions by 2025 - and it also risked a negative impact on economic growth. In that regard Kyoto was a classic case of tomato environmentalism - it started off looking ‘green’ but has ended up producing 'red-coloured' bigger state solutions. The regulatory ethos, hardwired into the Kyoto treaty, explains much of the sclerosis bedeviling Kyoto’s main champions - the inflexible eurozone nations.
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