What is Kyoto Protocol ?

Agreed in 1997, the Kyoto protocol aimed to cut emissions of greenhouse gases across the developed world by about five per cent compared with 1990. It came into force in 2005, following ratification by Russia, which means the deadline for the legally binding cuts to be made is 2008-12. It was based on the “common but differentiated responsibility” approach to global warming, with countries most able to make cuts asked to do so. Many countries were allowed to increase pollution, including all those in the developing world.

• Kyoto introduced mechanisms such as carbon trading to help countries meet their targets in “flexible” ways – often in other countries – rather than by making cuts at home.
  

• Among industrialised nations, 16 are on target to meet their Kyoto obligations, including France, the UK, Greece and Hungary, the UN said. Some 20 countries are off-course, including Canada, Germany, Ireland, Italy, Japan, New Zealand and Spain.
  
  
• Nations that miss their Kyoto target in 2012 will incur a penalty of an additional third added to whatever cut they agree under a new treaty in Copenhagen.

The key issue – who will cut their carbon by how much and by when.
To be meaningful, targets must be short-term, perhaps something like 25-40 per cent by 2020 for the developed world. Developing countries, such as China, could be allowed to increase pollution, as long as they reduce the rate of increase, and agree to take on proper reductions within 15 years or so.
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