The following Environment guidance note provides comprehensive and up to date legal information covering:
The Kyoto Protocol commits developed economies set out in Annex I to the UN Framework Convention on Climate Change (Annex I parties) to detailed reductions in greenhouse gas (GHG) emissions.
It contains three flexible market-based mechanisms for achieving emissions reductions:
Emissions Trading (ET)
Annex B parties to the Kyoto Protocol may participate in ET to fulfil their reduction commitments
Joint Implementation (JI)
allows Annex I parties to the Kyoto Protocol to earn emission reduction units (ERUs) from an emission reduction project in another Annex I country through a JI project
Clean Development Mechanism (CDM)
allows Annex I parties to initiate and support projects in non-Annex I countries that reduce GHG emissions
See Practice Notes: Kyoto Protocol 1997—snapshot and United Nations Framework Convention on Climate Change 1992—snapshot.
As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this content.
For further guidance, see Practice Note: Brexit—impact on environmental law and News Analysis: Brexit Bulletin—key updates, research tips and resources.
To participate in the market-based mechanisms, Annex I parties must:
have ratified the Kyoto Protocol
have calculated their assigned amount in terms of tonnes of CO2e emissions
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