KYOTO PROTOCOL

By:- Faizan Equebal. BBA (VI sem)[M] 05614101709

KYOTO PROTOCOL
The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012.

 The major distinction between the Protocol and the Convention is that while the Convention encouraged industrialised countries to stabilize GHG emissions, the Protocol commits them to do so. The Kyoto Protocol is an international agreement setting targets for industrialised countries to cut their greenhouse gas emissions.

TARGETED GASES
Carbon dioxide (CO2) Methane (CH4) Hydrofluorocarbons (HFCs) Perfluorocarbons (PFCs) Sulphur hexafluoride (SF6) These gases are considered at least partly responsible for global warming - the rise in global temperature which may have catastrophic consequences for life on Earth. The protocol was agreed in 1997, based on principles set out in a framework convention signed in 1992.

HISTORY
The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005. The detailed rules for the implementation of the Protocol were adopted at COP 7 in Marrakesh in 2001, and are called the Marrakesh Accords.

11 states and 86 U.S. cities are implementing The Kyoto

THE KYOTO MECHANISMS

Under the Treaty, countries must meet their targets primarily through national measures. However, the Kyoto Protocol offers them an additional means of meeting their targets by way of three marketbased mechanisms. The Kyoto mechanisms are: Emissions trading known as the carbon market" Clean development mechanism (CDM) Joint implementation (JI). The mechanisms help stimulate green investment and help Parties meet their emission targets in a costeffective way.

MONITORING EMISSION TARGETS

Under the Protocol, countriesactual emissions have to be monitored and precise records have to be kept of the trades carried out. Registry systems track and record transactions by Parties under the mechanisms. The UN Climate Change Secretariat, based in Bonn, Germany, keeps an international transaction log to verify that transactions are consistent with the rules of the Protocol. Reporting is done by Parties by way of submitting annual emission inventories and national reports under the Protocol at regular intervals.

 A compliance system ensures that Parties are meeting their commitments and helps them to meet their commitments if they have problems doing so. Adaptation The Kyoto Protocol, like the Convention, is also designed to assist countries in adapting to the adverse effects of climate change. It facilitates the development and deployment of techniques that can help increase resilience to the impacts of climate change. The Adaptation Fund was established to finance adaptation projects and programmes in developing countries that are Parties to the Kyoto Protocol. The Fund is financed mainly with a share of proceeds from CDM project activities.

WHAT ARE THE TARGETS?

Industrialised countries have committed to cut their combined emissions to 5% below 1990 levels by 2008 2012. Each country that signed the protocol agreed to its own specific target. EU countries are expected to cut their present emissions by 8% and Japan by 5%. Some countries with low emissions were permitted to increase them. Russia initially wavered over signing the protocol, amid speculation that it was jockeying for more favourable terms. But the country's cabinet agreed to back Kyoto in September 2004.

HOW MUCH DIFFERENCE WILL KYOTO MAKE?

Most climate scientists say that the targets set in the Kyoto Protocol are merely scratching the surface of the problem. The agreement aims to reduce emissions from industrialised nations only by around 5%, whereas the consensus among many climate scientists is that in order to avoid the worst consequences of global warming, emissions cuts in the order of 60% across the board are needed.

 This has led to criticisms that the agreement is toothless, as well as being virtually obsolete without US support. But others say its failure would be a disaster as, despite its flaws, it sets out a framework for future negotiations which could take another decade to rebuild. Kyoto commitments have been signed into law in some countries, US states and in the EU, and will stay in place regardless of the fate of the protocol itself.

EMISSIONS TRADING?
Emissions trading works by allowing countries to buy and sell their agreed allowances of greenhouse gas emissions. Highly polluting countries can buy unused "credits" from those which are allowed to emit more than they actually do. Countries are also able to gain credits for activities which boost the environment's capacity to absorb carbon. These include tree planting and soil conservation, and can be carried out in the country itself, or by that country working in a developing country.

THE US PULL OUT?

US President George W Bush pulled out of the Kyoto Protocol in 2001, saying implementing it would gravely damage the US economy. His administration dubbed the treaty "fatally flawed", partly because it does not require developing countries to commit to emissions reductions. China and India fall into this category, although they are two of the world's biggest producers of greenhouse gases.

Mr Bush says he backs emissions reductions through voluntary action and new energy technologies. China and India fall into this category, although they are two of the world's biggest producers of greenhouse gases. Mr Bush says he backs emissions reductions through voluntary action and new energy technologies.

THE ROAD AHEAD

The Kyoto Protocol is generally seen as an important first step towards a truly global emission reduction regime that will stabilize GHG emissions, and provides the essential architecture for any future international agreement on climate change. By the end of the first commitment period of the Kyoto Protocol in 2012, a new international framework needs to have been negotiated and ratified that can deliver the stringent emission reductions the Intergovernmental Panel on Climate Change (IPCC) has clearly indicated are needed.

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