Kyoto Protocol

Introduction to Climate Change Human activities are releasing greenhouse gases (GHG) into the atmosphere Climate change is a global issue Rising levels of greenhouse gases are already changing the climate Climate models predict the global temperature will rise by about 1.4 to 5.8 degrees by 2100 Climate change is likely to have a significant impact on the global environment, economy and society

The greenhouse effect The effect is increasing temperatures on Earth 1 1) Solar radiation 5 5) Some of the IR passes through the atmosphere 2 2) Reflected back to space 3 3) Absorbed by atmosphere 6 6) Some is absorbed and re-emitted by greenhouse gas molecules 4 4) Infra-red radiations emitted from Earth The effect is increasing temperatures on Earth

Increase in global temperature

impact of climate change Consequences of climate change: Agriculture and food security Crop yields Forest Composition, health and productivity... > Temperature increase > Sea level rise Water resources Water supply, water quality... Coastal areas Erosion Species and natural areas Biodiversity, modification of ecosystems... Human health Infectious diseases, human settlements...

Kyoto Protocol United Nations Framework Convention on Climate Change (UNFCCC) A global legal instrument (international agreement) to protect the climate system and stabilize GHG emissions Adopted in 1992, entered into force in 1994 Status of participation: 189 Parties

Contains 2 annexes: Annex 1: countries with obligations to take measures to mitigate the effects of climate change Annex 2: countries with obligations to provide financing to developing countries for their obligations under UNFCCC

Kyoto protocol Adopted at third Conference of Parties (COP) to the UNFCCC in Kyoto in 1997 Entered into force on February 16th, 2005 after ratification of the Russian Federation Now 163 countries covering 61.6% of global emissions have ratified the protocol

Kyoto protocol Six emissions: CO2, CH4, N2O, PFCs, HFCs, SF6 Binding emission reduction targets for Annex I countries of 5.2% below 1990 over 2008-2012 Non-Annex I countries have no binding targets but must report on their actions Annex I countries can achieve targets through domestic policies and three market mechanisms Rules for implementation worked out at annual COP meetings

Flexible mechanisms ET - Emissions Trading JI - Joint Implementation CDM - Clean Development Mechanism

EMISSIONS TRADING Greenhouse gas emissions – a new commodity Parties with commitments under the Kyoto Protocol (Annex B Parties) have accepted targets for limiting or reducing emissions. These targets are expressed as levels of allowed emissions, or “assigned amounts,” over the 2008-2012 commitment period. The allowed emissions are divided into “assigned amount units” (AAUs). Emissions trading, as set out in Article 17 of the Kyoto Protocol, allows countries that have emission units to spare - emissions permitted them but not "used" - to sell this excess capacity to countries that are over their targets. Thus, a new commodity was created in the form of emission reductions or removals. Since carbon dioxide is the principal greenhouse gas, people speak simply of trading in carbon. Carbon is now tracked and traded like any other commodity. This is known as the "carbon market."

 Clean Development Mechanism (CDM)  The Clean Development Mechanism (CDM), defined in Article 12 of the Protocol, allows a country with an emission-reduction or emission-limitation commitment under the Kyoto Protocol to implement an emission-reduction project in developing countries. Such projects can earn saleable certified emission reduction (CER) credits, each equivalent to one ton of CO2, which can be counted towards meeting Kyoto targets.

Joint Implementation (JI) Through the Joint Implementation, any Annex I country can invest in emission reduction projects (referred to as "Joint Implementation Projects") in any other Annex I country ,each equivalent to one ton of CO2, which can be counted towards meeting its Kyoto target. Joint implementation offers Parties a flexible and cost-efficient means of fulfilling a part of their Kyoto commitments, while the host Party benefits from foreign investment and technology transfer

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