Mandated Quantified GHG Emissions Reduction
Following the Berlin Mandate and the Analytical and Assessment Phase (AAP) adopted at COP1, there was pressure on Annex 1 countries to come up with mandated emissions reduction, as distinct from the voluntary emissions reduction target of "reducing GHG emissions to 1990 levels by the year 2000". This was arrived at in Kyoto.
The final protocol commits industrialized (Annex 1) countries to reduce their emissions of the six main anthropogenic greenhouse gases [Carbon dioxide (CO2), Methane (CH4), Nitrous oxide (N2O), Perfluorocarbons (PFCs), Hydrofluorocarbons (HFCs), and Sulfur hexafluoride (SF6), of which CO2 accounts for about 80%] by an average 5.2% over 1990 levels during a commitment period 2008-2012.
This is expected to be the system for future mandated quantified GHG emissions reduction. The Kyoto Protocol expires in 2012. International negotiations were initiated in May 2007 to put into place a successor treaty.
Kyoto Protocol comes into force [1]
According to article 25 of the protocol, it enters into force "on the ninetieth day after the date on which not less than 55 Parties to the Convention, incorporating Parties included in Annex I which accounted in total for at least 55% of the total carbon dioxide emissions for 1990 of the Parties included in Annex I, have deposited their instruments of ratification, acceptance, approval or accession."
Of the two conditions, the " 55 parties" clause was reached on May 23, 2002 when Iceland ratified.
The ratification by Russia on 18 November 2004 satisfied the "55%" clause and brought the treaty into force, effective February 16, 2005.
As of November 2007, a total of 175 countries and other governmental entities have ratified the agreement (representing over 61.6% of emissions from Annex I countries). The 3rd of December 2007, Australia ratified the protocol during the first day of the COP13 in Bali.
Flexible mechanisms [2]
To reach these emissions reductions targets, the Protocol offers mechanisms to increase the flexibility, reach, and efficiency of the commitments. Emissions' trading allows countries to exchange emission allowances, while Joint Implementation (JI) and the Clean Development Mechanism (CDM) allow commitments to be offset against investments in emission-reducing projects worldwide.
The Protocol contains a range of other, more limited, provisions including national emissions reporting, a supplementarity principle, technology standards, and means for their development and transfer. It also stipulates that negotiations on future commitments should start by 2005.
While the UNFCCC includes broad global participation and signatories, the Kyoto Protocol has been more politically charged and has fewer participating parties. As of June 2007, 175 nations were parties to the Kyoto Protocol, representing approximately 60 percent of the global emissions for Annex I countries.
Although the US government, under then-President William J. Clinton, signed (and designed significant portions of) the Treaty, it was never submitted to the Senate for ratification. U.S. President George W. Bush later repudiated the Protocol. Consequently, although the U.S. is the largest greenhouse gas emitter in Annex I, it is not a party to the Kyoto Protocol
What happens if a country is unable to meet its emissions targets? It will have to make up 30% over and above the backlog, in addition to subsequent commitments. It will also not be eligible to participate in emissions trading.
Revisions [1]
The protocol left several issues open, to be decided later by the sixth Conference of Parties (COP). COP6 attempted to resolve these issues at its meeting in the Hague in late 2000, but was unable to reach an agreement due to disputes between the European Union on the one hand (which favoured a tougher agreement) and the United States, Canada, Japan and Australia on the other (which wanted the agreement to be less demanding and more flexible).
In 2001, a continuation of the previous meeting (COP6bis) was held in Bonn where the required decisions were adopted. After some concessions, the supporters of the protocol (led by the European Union) managed to get Japan and Russia in as well by allowing more use of carbon dioxide sinks.
COP7 was held from 29 October 2001 through 9 November 2001 in Marrakech to establish the final details of the protocol.
The first Meeting of the Parties to the Kyoto Protocol (MOP1) was held in Montreal from November 28 to December 9, 2005, along with the 11th conference of the Parties to the UNFCCC (COP11).