Due to the distressing rate of destabilization of climate patterns around the globe owing to the release of greenhouse gases and other forms of industrial waste, governmental intervention in form of regulation is paramount. It is important – nonetheless – to note that the form of governmental intervention referred to in this context entails enactment of laws to govern the release of toxic waste and not governmental regulation of market prices.
The call for reduction of industrial emission was discussed at length during the 15th session of the Conference of Parties (COP 15), which resulted into the signing of the Copenhagen Accord (2009). The accord urges countries to show strong political willpower in embracing global environmental efforts under the auspices of the principle of ‘common but differentiated responsibilities and respective capabilities’ as stipulated under the Copenhagen Accord. (IPCC AR4 pg 35)