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Climate change
Kyoto Protocol
Background
The Kyoto Protocol was adopted at the third conference of the parties (COP) to the United Nations' Framework Convention on Climate Change (UNFCCC) in Kyoto, Japan in December 2007. In Marrakesh, Morocco in 2001, the COP agreed to rules committing members to reducing greenhouse gas (GHG) emissions, which consist of water vapour, carbon dioxide, methane, nitrous oxide and ozone. The Kyoto Protocol came into force on February 2005 after Russia ratified the agreement.
Kyoto in practice
The Protocol mandates reductions in GHG emissions for all nations that have ratified the treaty. Uniquely, the reduction levels differ from country to country. In the EU, for example, different countries have agreed to different targets so that the group can achieve the 8% reduction it has committed to. The Protocol allows flexibility in the methods used to achieve the specified reductions. Some nations may choose to create carbon sinks by increasing their forests, while others may adopt measures such as emissions trading, the clean development mechanism or pursue joint implementation.
The Kyoto Protocol provides countries with “flexibility mechanisms” to ensure that they keep costs down. The mechanisms outlined are designed to help countries to implement measures to reduce emissions in their own country and to aid other countries. There are three mechanisms adopted by the Kyoto Protocol.
1) Clean-Development Mechanism - This grants emissions credits called certified emission reductions (CERs). CERs would also be provided for reforestation projects designed to increase carbon absorption (otherwise known as 'carbon sinks').
2) Joint Implementation - This occurs when a signatory implements an emission-reducing project, or a project which enhances removal by means of carbon sinks, in another member country's territory. The resulting emission reduction unit (ERUs) can be used towards meeting its own Kyoto targets.
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