Kyoto Protocol
The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012.
The major distinction between the Protocol and the Convention is that while the Convention encouraged industrialised countries to stabilize GHG emissions, the Protocol commits them to do so.
Recognizing that developed countries are principally responsible for the current high levels of GHG emissions in the atmosphere as a result of more than 150 years of industrial activity, the Protocol places a heavier burden on developed nations under the principle of “common but differentiated responsibilities.”
The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005. The detailed rules for the implementation of the Protocol were adopted at COP 7 in Marrakesh in 2001, and are called the “Marrakesh Accords.”
All countries are not treated equally by Kyoto. Canada, for instance, has committed to chopping its greenhouse gas emissions by six per cent. The U.S. target was a seven per cent reduction. But in 2001, one of the first acts of newly-elected President George W. Bush was to formally withdraw the U.S. from Kyoto. Bush said the U.S. would not ratify the treaty because it would damage the U.S. economy and major developing nations like China and India were not covered by its provisions.
[edit] Penalties
The Kyoto Protocol contains measures to assess performance and progress. It also contains some penalties. Countries that fail to meet their emissions targets by the end of the first commitment period (2012) must make up the difference plus a penalty of 30 per cent in the second commitment period. Their ability to sell credits under emissions trading will also be suspended.
[edit] Criticisms
Much of the criticism around the Kyoto Protocol is over political realities and the limitations of the treaty. Critics say a five per cent cut will accomplish little, especially with the United States not on board. Some Canadian critics say our economy will pay a heavy price for meeting our Kyoto commitments because we'll have to compete with an American economy that faces no such restrictions. Many doubt that Canada's target cuts can be reached in Kyoto's first phase that ends in 2012.
Others say the money to implement Kyoto would be much better spent on improving land usage and infrastructure in poor countries.
