Kyoto Protocol

This glossary is far from complete. We are constantly adding terms.

Definition

A treaty designed to reduce greenhouse gas emissions

Features

Requires all industrialized countries to reduce their greenhouse gas emissions by setting reduction targets
No requirement for reduction of greenhouse gases for developing countries
Set up a emissions training scheme (also known as a carbon exchange market). In this countries which emit less then the allocated amount can sell the difference to countries which exceed their targets.(Note that there are also separate carbon exchange markets, such as the European Union's emission trading scheme)
Created the Clean Development Mechanism (CDM) which encourages the transfer of technologies from developed to developing countries through a trading system similar to carbon markets. See Clean Development Mechanism

Some major greenhouse gas emitting countries have not ratified the treaty, most notably the United States
No reduction targets for developing countries
No enforcement mechanism
Problems with CDM credits being given to already existing projects (the treaty requires that credit should be given new projects or project improvements)