Kyoto Protocol

Kyoto Protocol

The Kyoto Protocol originated from a treaty, introduced ten years ago, called the United Nations Framework Convention on Climate Change or UNFCCC. They designed the treaty to consider possible solutions available, which may be able to “reduce global warming and cope with inevitable temperature increases. As a result, the notion had developed itself into what we now know as the Kyoto Protocol. On February 16, 2005 they initiated the agreement in Kyoto Japan, bringing a new understanding towards greenhouse gas emissions worldwide.   This was an extension that was very positive for the UNFCCC. It strengthened the treaty and made it extremely more powerful (in a legally binding fashion). Now countries who commit to this protocol are required to reducing their emissions of carbon dioxide and several other greenhouse gases (GHG), or to be active in emissions trading. Emission trading, or cap and trade is only requested if companies or governments plan on maintaining or increasing the emission of these gases.
Today it has developed into a more powerful concept and aid to the whole world. As they have made their presence known in various parts, this has given them a clear runway for their progress. Since then, the protocol now serves approximately 147 countries; most being lesser developing countries. Among them are countries such as, Cambodia, Myanmar, the Republic of Tanzania, Ethiopia, Gambia, Nepal, Niger, Senegal, Somalia, Yemen, Zambia, Haiti, Maldives, Angola, Rwanda, Chad, Samoa, Guinea, and Afghanistan. The Kyoto Protocol's main objective is to make these countries and their other signatories reduce their gas emissions by participate in their "cap and trade" system, which works by imposing national caps on the emissions of Annex I countries. Generally, this obligates such countries to reduce their emissions by 5.2% below their 1990 baseline over the 2008 to 2012 period. Companies that plan on maintaining their emissions of greenhouse gases or...