From December 1 through 11, 1997, more than 160 nations met in Kyoto, Japan, to negotiate binding limitations on greenhouse gases for the developed nations, pursuant to the objectives of the Framework Convention on Climate Change of 1992. The outcome of the meeting was the Kyoto Protocol, in which the developed nations agreed to limit their greenhouse gas emissions, relative to the levels emitted in 1990.

The developed countries committed themselves to reducing their collective emissions of six key greenhouse gases by at least 5%. This group target will be achieved through cuts of 8% by Switzerland, most Central and Eastern European states, and the European Union (the EU will meet its target by distributing different rates among its member states); 7% by the US; and 6% by Canada, Hungary, Japan, and Poland. Russia, New Zealand, and Ukraine are to stabilize their emissions, while Norway may increase emissions by up to 1%, Australia by up to 8%, and Iceland 10%.

The protocol presents ways for countries to reach their targets. One approach makes use of natural methods, called “sinks,” that remove greenhouse gases from the atmosphere. The planting of trees, which take up carbon dioxide from the air, would be an example. A second approach is a Clean Development Mechanism (CDM). A CDM promoting sustainable development enables industrialized countries to finance emissions-reduction projects in developing countries and receive credit for doing so. An example would be an investment in a clean-burning natural gas power plant to replace a proposed coal-fired plant. A third approach was emissions trading, which allowed participating countries to buy and sell emissions rights (carbon credits)and in doing so placed an economic value on greenhouse-gas emissions. European countries implemented an emissions-trading market as a device to work toward meeting their commitments under the Kyoto Protocol. Countries that failed to meet their emissions targets would be required to make up the difference between their targeted and actual emissions, plus a penalty amount of 30 percent, in the subsequent commitment period, beginning in 2012; they would also be prevented from engaging in emissions trading until they were judged to be in compliance with the protocol. The emission targets for commitment periods after 2012 are to be established in future protocols.

For more information visit the United Nations Framework Convention on Climate Change.