New Global Deal Reached to Reduce Greenhouse Gases in 200 Countries

by Micah J. Fleck

One common critique of top-down climate change prevention from libertarians is that it won’t be possible to get all or most other countries responsible for emitting greenhouse gases to comply alongside the U.S. in lowering aid emissions in a timely enough manner. However, if this latest development is any indication, that might be an argument starting to run out of steam.

According to CBS, just this morning, nearly 200 nations have come together and agreed to significantly reduce their emissions – not just that, but in a very reasonable, gradual manner that will not disrupt the markets or social benefits surrounding the sources of the emissions but instead allow the countries to taper off and salvage jobs. It’s a gradual plan starting in 2019, and it targets something far more destructive than C02: hydrofluorocarbons (HFC).

Stated by the report:

The agreement, unlike the broader Paris one, is legally binding. It caps and reduces the use of HFCs in a gradual process beginning by 2019 with action by developed countries including the United States, the world’s second-worst polluter. More than 100 developing countries, including China, the world’s top carbon emitter, will start taking action by 2024, when HFC consumption levels should peak.

Not only is this agreement historic, but it also makes fiscal sense as well, since HFCs are not as ubiquitous or plentiful as C02 emission sources, and yet they cause more damage. What this means for the bottom line of such an undertaking is that it will cost less money to regulate the HFC sources and still do the most good. The UN has stated that their follow-up meeting to this deal, which will happen in 2017, will focus on the specific finances of the initiative and determine how much money each country will ultimately have to spend.

This seems like a very conscientious move – especially on behalf of the UN, which has arguably been useless most of its existence. Now, if only they could also free up the marketplace to allow real competition to drive alternate energy development in the meantime…