DMPQ- . Briefly discuss the Kyoto protocol. Also mention the two major instruments of this protocol.

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. In a bid to curb carbon emissions and global warming, Kyoto  Protocol was signed among various countries and it entered into force in 2005 which  marked the beginning of its first commitment period till 2012 (second commitment  period was agreed from 2013-20). It was an extension of UNFCCC and a concrete plan to  bring GHG emission down in a legally binding manner.

Countries were divide into three groups – Annex-1 countries (the Industrialized  economies and economies in transition) and Annex-2 (the developed countries  excluding economies in transition which will actually pay to developing countries for  their costs incurred in new projects under CDM and they are actually a subset of Annex  1 countries) and other developing countries or non-Annex countries. Annex- 2 countries  have binding targets under Kyoto to cut carbon emissions under principle of common,  but differentiated/historic responsibilities. It set legally binding targets for the Annex-2  countries (37 of them including individual countries of EU) to reduce their GHG levels to  an average of 5.3% of 1990 level during a seven year commitment period of 2005-12.  USA and Australia didn’t sign it.

Two major instruments of this protocol were :

Global Environment Facility

It was established with the help of World Bank,  UND and UNEP to transfer environmentally friendly technologies from  developed countries to developing countries for checking the greenhouse gases  emissions.

Clean Development Mechanism (CDM) of UN

It has been started in the  aftermath of Kyoto protocol under which Carbon Credits can be traded as per  Marrakesh Accord. The protocol came into effect in 2005 on the basis of  Common, but Differentiated Responsibilities. The principle of CBDR enshrined in  UNFCCC article 4(7) was formally operationalised through Kyoto Protocol.

 

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