The Kyoto Protocol Is An Agreement Signed For Global Economic Development
The protocol provided countries with several ways to achieve their goals. One approach was to use natural processes, called “wells,” that remove greenhouse gases from the atmosphere. Planting trees that absorb carbon dioxide from the air would be an example. Another approach was the international Clean Development Mechanism (MDP), which encouraged developed countries to invest in technologies and infrastructure in less developed countries, where there were often significant ways to reduce emissions. Under the CDM, the invested country could claim an effective reduction in emissions as a credit to meet its obligations under the protocol. For example, an investment in a clean natural gas plant to replace a planned coal-fired power plant. A third approach was the Emissions Trading Scheme, which allowed participating countries to buy and sell emission rights, with an emphasis on economic greenhouse gas emissions. European countries have established an emissions trading market as a mechanism to strive to meet their obligations under the Kyoto Protocol. Countries that fail to meet their emission targets are expected to close the gap between their targeted and actual emissions, plus a 30% penalty, over the next commitment period starting in 2012; they would also be prevented from participating in the Emissions Trading Scheme until they are deemed to be in compliance with the protocol. Emissions targets for post-2012 commitment periods are expected to be set in future protocols. The weakest nations – the Alliance of Small Island States (AOSIS) – have insisted that developed nations be cut deep and standardized in order to reduce emissions as much as possible. Countries that had supported the differentiation of the objectives had different ideas on how to calculate them and many different indicators were proposed.  Two examples are the differentiation of targets on the basis of gross domestic product (GDP) and differentiation by energy intensity (energy consumption per economic unit).  The international adoption of the Kyoto mechanisms in 1997 brought the political process to the stage of implementation. At this stage, the details of their project must be developed and adopted in order to make these instruments operationally flexible. However, several institutional obstacles hinder the implementation of the Kyoto mechanisms, including legal ambiguities and cultural objections.