Negotiated Agreements and ‘Flexible Mechanisms’: Building Blocks for Efficient Kyoto Implementation Strategies in the European Union?

Abstract

In December 1997 international climate protection efforts culminated with the historic accord reached at Kyoto. In the Protocol, named after the Japanese city Kyoto hosting the Third Conference of the Parties to the Climate Convention, 38 industrialized and transition countries plus the European Community have committed to limit or reduce emissions of a set of six greenhouse gases² (GHG). The European Community and its Member States have the obligation to reduce GHG emissions by 8% in the target period 2008 to 2012 compared to the emissions level in 1990, the overall reduction of all committed countries amounts to above 5%.

Article Footnote

The author was working for the Directorate-General for Economic and Financial Affairs at the writing of this article and expresses solely his personal opinion.