With little doubt, we are living on the most wasteful continent on Earth. Nothing proves this better than the fact that the two largest countries on this continent is either withdrawn from or apathetic about the Kyoto Protocol.

Green indicates countries that have ratified the treaty
(Annex I & II countries in dark green)
Brown = No intention to ratify
Red = Countries which have withdrawn from the Protocol.
Grey = no position taken or position unknown

Fortunately, some optimistic signs are pointed out by science journalist, Bob McDonald’s. According to his blog, “Obama, Climate Change and Canada“, Canada is likely to go through some transformative changes in sustainability-related regulations because of the re-election of President Obama.

If this inference is to come true, it will not only bring emission issue under control, but also create numerous opportunities for entrepreneurship. These possibilities can be innovations in oil-fracking process, oil pipeline retrofitting techniques, better mileage friendly engines and many more. Speculations might arise from the existing companies’ perspectives, wondering about the disadvantageous restrictions these potential new regulations might impose on  them. However, I would say that these opportunities will bring benefits which far outweigh the restrictions and will eventually result in a less mitigated environmental situation.

In other words, the Stakeholder Theory might be true!