The Kyoto Protocol – is an international agreement linked to the UNFCCC. It was adopted in Kyoto, Japan on 11 December 1997. Its major feature is that it sets binding targets for 37 industrialized countries and the European community for reducing GHG emissions.
Under the treaty, countries must meet their targets primarily through national measures but it offers them an additional means of meeting their targets by way of three market based mechanisms
- Emissions Trading (Carbon Market)
- CDM(Clean Development Mechanism)
- JI (Joint Implementation)
Researched by Maninder
