Voluntary initiatives to address climate change in the EU

Voluntary initiatives (VIs) promise to be valuable elements in the portfolio of instruments to help reduce greenhouse gas (GHG) emissions to achieve the Kyoto targets and beyond. Effective climate change policy implementation requires the involvement of all stakeholder groups in society, allowing GHG emissions to be tackled from different perspectives. This crucial multi-stakeholder approach forms an integral part of a successful VI, if it is to be designed and implemented efficiently.

VIs represent a process of broadening the level of shared responsibility and shared liability throughout the sectors of the economy, and include a range of different instruments. Each of these, and, in particular, negotiated environmental agreements (NEAs), has particular values and limitations in helping reduce climate change.

The aim of this paper is to examine NEAs and offer insights into their design, implementation and role in GHG emission reductions. Some lessons on how to improve NEAs are also drawn out