Fighting globally against climate change change

Fighting globally against climate change change!

The UNFCCC*, Kyoto Protocol and a range of informal partnerships cooperation, and a foundation from which to build further collaborative action.

The Kyoto Protocol is an international policy response

Background

The test of the Protocol was created at a conference of the UNFCCC* help in Kyoto in 1997.

The Protocol entered into force in 2005 for its 168 ratifying members.

Target

It omposes quantified greenhouse gas emissions reduction targets on industrialized countries.


The Protocol's ultimate aim is to encourage countries to cut overall greenhouse gas emissions by at least 5% below 1990 levels in 2008-2012.

Compliance

If a countries emissions exceed its assigned amount, the party must make up the difference between its emissions and its assigned amount during any subsequent commitment periods.

Developing countries were not assigned emissions reduction targets. They can benefit from certain mechanisms under the Kyoto Protocol to finance clean technology projects.

Carbon trading makes both ecological and economic sense. The market mechanism ensures that the reductions in emissions are made where the cost of reduction are lowest. However some perverse impacts are arising, which demand greater emphasis on environmental and social objectives for the carbon market.



The Protocol incorporates 3 flexible mechanisms to assist parties in achieving compliance:

 1) The Clean Development Mechanism (CDM):

CDM facilitates corporate and government investment in emission reduction projects in developing countries. CDM projects generate tradable carbon credits known as Certified Emission Reductions (CERs).

2) Joint Implementation (JI):

JI projects involve developed countries implementing emission reduction projects in other developed countries and produce tradable credits known as Emissions Reduction Units (ERUs).

3) Emissions Trading (ET):

ET allows countries with emissions targets under the protocol to buy and sell emissions allowances (allocated as their emissions cap) to assist in achieving their emissions targets.



* The United Nations Framework Convention on Climate Change's ultimate objective is stabilization of GHG concentrations in the atmosphere at al level that would prevent dangerous anthropogenic interference with the climate system.

The Kyoto mechanisms have failed to address the poverty issue.