Multilateral Environmental Agreements Up to 2050: Are They Sustainable Enough?

Abstract

Today, reducing CO2 emissions is a global target which nearly all countries in the world prioritize. Some countries have ratified up to 30 multilateral environmental agreements regarding the atmosphere up to 2006. This number has been surging since 1989 after the ratification of the Montreal Protocol. Following the findings of the inverted U-shaped Environmental Kuznets Curve and applying a spline model, I can show the beneficial impact of the rising number of multilateral environmental agreements on the forecasts of CO2 emissions up to 2050. My results indicate that the number of atmosphere-related multilateral environmental agreements generates good will among global cooperation efforts towards reducing CO2 emissions and therefore provides a good basis for effective programs to stop climate change.