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2007 | The insurance of catastrophic risk in the European Union and the global changes | 229--245
Tytuł artykułu

Emission Certificate Market as an Instrument of Fighting a Climatic Catastrophe Resulting From Global Warming

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Some gases that are found in the atmosphere (like for instance carbon dioxide and methane) play a major role in shaping climate because they affect energy balance of the climatic system, thus facilitating the greenhouse effect. Warming of climate is of global nature and all activities that aim at reducing risk of climatic change occurrence must be of global nature as well. Anthropogenic emission including carbon dioxide emission in particular may result in inevitable and irreversible upset of climatic equilibrium all over the world. Efforts undertaken by the international community are directed towards emission stabilisation particularly including prevention of carbon dioxide increase in the atmosphere. At present, a level of the carbon dioxide immission amounts to 360 ppm (a critical value amounts to 500 ppm). If the above value is exceeded a climatic catastrophe will occur. In order to counteract this detrimental trend it is necessary to reduce emissions in the subsequent years by at least 30% and in perspective of 2050 by at least 60% of today levels. Major occurrences in the natural environment - in Europe particularly - were related to weather and climate. It is estimated that three quarters of all economic losses incurred in Europe resulted from weather and climate related catastrophes. Estimates of the annual average of such losses approach ten billion Euros and the amount is still growing. Such numbers show that management of natural resources in Europe is more and more important to ensure profitability of economic and social capital of Europe. The United Nations Framework Convention on Climate Change brings about a conclusion that reacting to changes in climate should be coordinated with social and economic development in an integrated way in order to avoid any negative influence of undertaken actions on - predominantly - economic development with particular attention paid to rightful needs of developing countries on their way towards sustainable development and poverty liquidation. International legal acts including the United Nations Framework Convention on Climate Change and the Kyoto Protocol also introduced a range of mechanisms and instruments that all allow for undertaking effective activities aiming at protection of the atmosphere. Trade in emissions is one of such tools. A system of trade in authorisations to emit pollutions is thought to be one of the most efficient and economically effective forms of reducing emissions of pollution. Poland has actively joined activities that support protection of the atmosphere, which generates opportunities for enhancing and strengthening international scientific, technological, economic and commercial cooperation. (fragment of text)
  • University of Economics in Katowice, Poland
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