The kyoto protocol
At a conference in Kyoto, Tokyo from the 1-11th of December, a historic protocol was held. Its mission was to reduce greenhouse gas emissions for the purpose of protecting the environment and halting global climate change (specifically global warming). The negotiations held proved to be harder than expected due to the differing stands of the major nations. Eventually a compromise was reached, and thus concluded the Kyoto Protocol. Directly or indirectly from this protocol, the benefits which stood to be gained include better climate and environmental conditions, improved health conditions and long-term economic benefits. Without the existence of this protocol, the earth’s temperature was expected to rise by 1°C by 2050, and 2.5°C by 2100. Although this may look small, it could potentially have a devastating effect on our planet.One of the main features of the Kyoto Protocol is an emission target which is set for developed nations. These limits vary according to country, and are to be reached over a 5 year period. This period allows for the countries to minimise the effect of economic uncertainties or fluctuations in the weather. However, the first budget period has been set to start from 2008-2012, with
Under this agreement, industrialised nations (the main polluters), will be the first to be cut down on their emissions. However, these nations decided that they needed more flexibility to achieve these targets, and thus three market-based mechanisms were included in the protocol: • Joint Implementation – one country can receive emissions credit for a specific project undertaken in another country • Emission Trading – the buying and selling of emission credits among developed countries. The Kyoto Protocol was opened for signature from the 16th of March 1998 until the 15th of March 1999 at the United Nations Headquarters in New York. To enter into force, it must be ratified by at least 55 countries, accounting for at least 55% of the total 1990 carbon dioxide emissions of developed countries. To date (as of 10 July 2003) 111 countries have ratified it which includes more than 70 developing countries; and 84 parties have signed. Only Russia’s participation can enable the protocol to be ratified, due to the withdrawal of the United States and Australia. This target is soon set to be met after Russia announced confirmation of it’s participation sometime this year or in 2004, depending on the political situation in the country. W
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Approximate Word count = 842
Approximate Pages = 3 (250 words per page double spaced)
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