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Kyoto Protocol
The Kyoto Protocol is an international treaty which deals with environmental policies relevant to global warming, was signed on December 11th 1997 by more than 160 countries during the COP3 Conference and within the framework of UNFCCC (United Nations Framework Convention on Climate Change).
The Kyoto Protocol regulates the emissions of greenhouse gases : CO2, N2O, CH4, SF6, hydro fluorocarbons (HFCs) and perfluorocarbons (FCs), and establishes – in particular – that the industrial countries should reduce such emissions – between 2008 and 2012 – by no less than 5% of the values recorded in 1990. The treaty came into force on February 16th 2005 and – to date – the greatest majority of the countries in the Planet, which contribute to 61.6% of the greenhouse gases emissions, have adhered to the Protocol or have started the procedures for its ratification.
Furthermore, the Kyoto Protocol establishes that the adhering countries can use a system of flexible mechanisms for the acquisition of credits on the emissions, namely:
-Clean Development Mechanism (CDM): It enables the industrialized countries and the ones whose economies are in transition to carry out projects in the developing countries to produce environmental benefits in terms of reduction in the greenhouse gas emissions as well as of economic and social development of the host countries and – at the same time – generate emission credits for those countries which promote the interventions.
-Joint Implementation (JI): It enables the industrialized countries and the ones whose economies are in transition to carry out projects for the reduction f the greenhouse gas emissions in another country of the same group and use the deriving credits jointly with the host country.
-Emission Trading (ET): it enables the exchange of emission credits between industrialized and transition economy countries; a country which has achieved a greater diminution of its greenhouse gas emissions than its own objective may thus transfer such “credits” (through the ET) to a country which – on the contrary – could not meet its own commitments of reducing the greenhouse gas emissions.
The Kyoto Protocol regulates the emissions of greenhouse gases : CO2, N2O, CH4, SF6, hydro fluorocarbons (HFCs) and perfluorocarbons (FCs), and establishes – in particular – that the industrial countries should reduce such emissions – between 2008 and 2012 – by no less than 5% of the values recorded in 1990. The treaty came into force on February 16th 2005 and – to date – the greatest majority of the countries in the Planet, which contribute to 61.6% of the greenhouse gases emissions, have adhered to the Protocol or have started the procedures for its ratification.
Furthermore, the Kyoto Protocol establishes that the adhering countries can use a system of flexible mechanisms for the acquisition of credits on the emissions, namely:
-Clean Development Mechanism (CDM): It enables the industrialized countries and the ones whose economies are in transition to carry out projects in the developing countries to produce environmental benefits in terms of reduction in the greenhouse gas emissions as well as of economic and social development of the host countries and – at the same time – generate emission credits for those countries which promote the interventions.
-Joint Implementation (JI): It enables the industrialized countries and the ones whose economies are in transition to carry out projects for the reduction f the greenhouse gas emissions in another country of the same group and use the deriving credits jointly with the host country.
-Emission Trading (ET): it enables the exchange of emission credits between industrialized and transition economy countries; a country which has achieved a greater diminution of its greenhouse gas emissions than its own objective may thus transfer such “credits” (through the ET) to a country which – on the contrary – could not meet its own commitments of reducing the greenhouse gas emissions.
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