Kyoto Protocol
Kyoto Protocol: a protocol to the United Nations Framework Convention on Climate Change (UNFCC), adopted on 11 December 1997 in Kyoto. Its aim is to reduce greenhouse gas emissions by the Annex I countries to agreed targets in the commitment period (2008 to 2012). Several paths are available to countries to meet their obligations. First, they can reduce their actual emissions through domestic measures. Second, they can buy emission credits from countries that are below their targets through emissions trading. Third, a country can earn emission reduction credits through Joint Implementation (JI). It would do this through funding a project in another country which would result in lower emissions there. Fourth, the Clean Development Mechanism (CDM) allows developed countries to earn credits by financing projects resulting in reduced emissions in developing countries. Countries are not allowed to rely solely on emissions trading, Joint Implementation and the Clean Development Mechanism to achieve their emission targets. See also climate change and greenhouse gases. L
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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