KYOTO PROTOCOL

Analyzing the Kyoto Protocol

Analyzing the Kyoto Protocol

Introduction

The United Nations Framework Convention on Climate Change (FCCC) is a framework for action to limit or reduce emissions of greenhouse gases (GHGs), such as carbon dioxide whose concentrations have risen significantly as a result of human activities. It was signed by over 150 states at the June 1992 “Rio” Summit (the United Nations Conference on Environment and Development). It entered into force in March 1994 and has been ratified by 176 countries. Parties included in Annex I to the Convention (developed countries and those in transition to a market economy) undertook a non-binding commitment to reduce their anthropogenic GHG emissions to 1990 levels by the year 2000. The third Conference of the Parties to the Convention was held in December 1997 in Kyoto, Japan, and resulted in the adoption of the Kyoto Protocol to the FCCC. Annex I Parties committed to legally binding targets to limit or reduce emissions of six major GHGs, with an aggregate goal of a 5 percent reduction from 1990 levels by 2008-2012. As of February 1999, 76 countries have signed the Protocol and three have ratified it. The fourth seminar of the Parties was held in November 1998 in Buenos Aires. Parties adopted the Buenos Aires Plan of Action, a work plan with firm deadlines to address issues raised in Kyoto and to further the implementation of the Protocol, which will enter into force when a majority of Parties representing 55 percent of total Annex I emissions have ratified it. (Note that this arrangement gives the United States an effective veto.) The Kyoto Protocol established three “flexibility mechanisms” to assist Parties in meeting their targets: emissions trading (Article 17), joint implementation between Annex I countries (Article 6), and the Clean Development Mechanism (CDM) (Article 12). None of these has yet been precisely described by the negotiations, but most of the basic ideas are clear. Emissions trading allow Annex I Parties to trade emissions reductions among themselves, buying or selling credit toward their commitments. Joint implementation involves collaborations among developed countries and countries in transition, on projects that will reduce carbon emissions from the baseline scenario. Such projects will profit from emissions reduction credits. The CDM will provide incentives to firms investing in emissions-reducing projects in developing countries, with credits being divided between the host country and the investing firm.

Kyoto protocol

The target of the Kyoto Protocol is to stabilize and decrease greenhouse gas (GHG) emissions, mitigate weather change, and promote sustainable development. The Protocol is historic in that it is the first try to accomplish worldwide affirmations to mitigate worldwide climate change through reduction in GHGs, and the first to employ the flexibility of the international market location for international ecological management. The Protocol appeared first as a structure affirmation, but through worldwide discussions it is progressing into sets of legal articles. These impose obligations on all signatories, but they furthermore identify possibilities for advanced ecological land administration at localized, national and worldwide ...