Two international conferences aimed at formulating an agreement to be accepted by all countries of the world have failed to achieve their goal. Copenhagen Conference in December 2009 and South Korea Conference in December 2010 have utterly failed due to pressures from multinational companies of the US and the EU, which are mainly responsible for the greenhouse gas emissions and hence for increase in temperature of the Earth planet. Recently, the development model proposed for the Emerging Market Economies (EMEs) by the world’s big powers such as the US, the EU and Japan along with WB and IMF are adding fuel to fire.
Because of the policies of Liberalisation, Privatisation and Globalisation, forced through WB and IMF by the imperialist powers, EMEs have become so by relegating welfare principles of the state capitalism implemented for the so-called benefit of people by the earlier leaders of those countries. As national character of the ruling classes in majority of the EMEs are subservient to the interests of the imperial powers these countries adapted principles of the free market economy with the successful conclusion of the Uruguay Round trade negotiations under supervision of the imperialist countries.
As environmental concerns occupied the main stage in imperialist countries because of the movements of the environmental organizations, such countries have brought tough environment laws that effectively limited the activities of the multinational companies. MNCs of the imperial countries had to curtail their production activities to escape from higher costs emanated from the environment laws. They shifted their production and assembling activities to third world countries to benefit from the absence of tough environment laws along with utilising cheap labour costs available in those countries.
Successful conclusion of the Uruguay Round trade negotiations, adaption of the LPG principles and shifting of MNCs’ production to third world countries have resulted in transformation of leaders of the third world block such as India, Brazil, South Africa and East Europe countries into Emerging Market Economies. Now the MNCs of the Imperialist countries that caused immense environmental degradation in their parent countries began to cause damage to environment in EMEs also. As they formed joint ventures with the local big companies in EMEs, big capitalists of the EMEs also began to contribute their own damage to environment in major third world countries releasing greenhouse gases, occupying vast swaths of the fertile land to establish their subsidiaries or joint ventures and intensive deforestation.