Climate change is a “commons problem”. The unusually high number of major natural calamities in recent years is a stark reminder of the proverbial “tragedy of the commons”.
One of the serious failures of the United Nations Framework Convention on Climate Change negotiations has been the developed countries’ failure to fulfil their commitments to transfer finance and technology to developing countries, and not doing enough to sequester their past cumulative carbon emissions. Developing countries, relatively more vulnerable to the impacts of climate change, have largely been left to fend for themselves. With time running out, these economies
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