KYOTO PROTOCOL

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Introduction

The United Nations organized a conference in Kyoto, Japan to draft an agreement to reduce global greenhouse gas emissions.
The protocol commits that “Annex 1 countries” (developed countries) reduce their emissions to ten percent below 1990 levels.
Each country has a prescribed number of
'emission units' which make up the target
emission
The Kyoto Protocol provides mechanisms for
countries to meet their emission targets

Kyoto Problems

Currently, 166 countries have ratified the protocol but:
United States, the number 1 emitter of CO2 gases has not joined.
Developing nations, such as China and India are not required to reduce or limit their emissions under the Kyoto Protocol.

International Emission Trading

• Emissions trading (ET) is a mechanism that
enables countries with legally binding emission
targets to buy and sell emissions allowances
among themselves
• Each country has a certain number of emission
allowances (amount of carbon dioxide it can
emit) in line with its Kyoto reduction targets
• The IET allows industrialized countries to trade
their surplus credits on the international carbon
credit market

Clean Development Mechanism (CDM)

CDM is the only Flexibility Mechanism that involves developing countries.
Designed to provide developed countries with flexibility to meet GHG emission reduction targets that they agreed to achieve under the Protocol.
Developed countries may finance GHG emission
reducing (avoiding) projects undertaken in developing countries and receive credits to help them to meet their mandatory limits.
Assist developing countries who host CDM projects to achieve sustainable development.