Kyoto protocol · Climate Dictionary

The Kyoto Protocol was an international treaty that committed its parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is occurring and that man-made CO2 emissions are a driving factor.

What is the Kyoto Protocol?

The Kyoto Protocol is an international agreement adopted in 1997 under the United Nations Framework Convention on Climate Change (UNFCCC). It legally binds developed countries to reduce greenhouse gas emissions in accordance with negotiated targets. The Protocol operationalizes the principles of the UNFCCC by setting quantified emission reduction targets for developed countries, while providing mechanisms for achieving these targets, such as emissions trading, clean development mechanisms, and joint implementation.

Economic impacts

Compliance costs for businesses to invest in clean tech and reduce emissions.
Competitiveness concerns for companies in stricter regulatory environments.
Impacts on energy-intensive industries.
New market opportunities in clean tech and carbon trading.

Impact on global GHG emissions

The Kyoto Protocol led to emissions reductions in participating developed countries during its first commitment period, but had a limited overall impact globally due to non-participation from major emitters like the US and exemptions for rapidly industrializing nations. While falling short of its goals, it paved the way for future climate agreements and introduced emissions trading mechanisms.

References

Kyoto Protocol The Kyoto Protocol is a treaty created by the United Nations in 1997 that aimed to reduce carbon emissions worldwide, thereby combating global warming or climate change. The name, Kyoto, was derived from the city in Japan where the protocol was adopted.
Kyoto Protocol Kyoto Protocol, international treaty, named for the Japanese city in which it was adopted in December 1997, that aimed to reduce the emission of gases that contribute to global warming. In force since 2005, the protocol called for reducing the emission of six greenhouse gases in …
Environmental and economic effectiveness of the Kyoto Protocol This study investigates the environmental and economic impacts of the Kyoto Protocol on Annex I parties through an impact assessment by combining the propensity score matching and the difference-in-difference methods. We establish a country-level panel data set including CO2 emis…