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24 Duke Envtl. L. & Pol'y F. 1 (2013-2014)

handle is hein.journals/delp24 and id is 1 raw text is: THE IMPORTANCE OF BEING FACTUAL: THE U.S., CHINA, AND THE FUTURE OF THE KYOTO PROTOCOL AARTHI S. ANANDt ABSTRACT By most accounts, the December 2012 Doha Round negotiations achieved little. The continued failure of member governments to reach consensus increases the risk of a catastrophic rise in global emissions. The current impasse is due in no small measure to the expressed concern of the United States that a climate change treaty will end up transferring enormous wealth from the United States to China. Analyzing the relevant market data, this Article concludes that there is little or no evidence to support the notion that ratification of the Kyoto Protocol will lead to the massive wealth transfers feared by the United States. Indeed, the market study demonstrates the opposite. By deconstructing the China myth, this Article achieves two tasks. First, it rebuts the principal argument that US. policy-makers and the Senate have offered to justify the United States' refusal to ratify the Kyoto Protocol. Second, in taking China out of the equation, it enables US. climate justice theory to resume the arrested conversation about the obligations of the United States, and other developed nations, to address the problem of global emissions. Copyright C 2014 Aarthi S. Anand. T Corporate Counsel, TATA Group (TATA Consultancy Services). B.C.L., University of Oxford (Rhodes Scholar), LL.M., NYU School of Law, B.A., B.L., (Hons.), India. This article was written when the author headed the Clean Energy Investment project at Columbia Law School and the Center for Climate Change Law. Special thanks to the Sujana Group for financial support, and Michael Gerrard for his support and inspiring leadership of the Clean Energy Investment initiative. I am grateful to Katherine Franke, Michael Gerrard, Philip Hamburger, Thomas Merrill, Amartya Sen, Vice-Chancellor Michael Spence, Richard Stewart and the Associates at Columbia Law School for their valuable comments and discussions, and Paul Curnow (Baker & McKenzie) for sharing his market experience. I am especially indebted to Kendall Thomas and Elizabeth Sheargold whose advice and insights were important in bringing this Article to completion. I thank the workshop participants at Columbia Law School, where I presented an earlier version of this Article, Uma Shivakumar and P.K. Vishwanath for enduring friendship and Jonathan Waisnor for excellent research assistance.

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