The first commitment period of the Protocol began in 2008 and ended in 2012. All 36 countries that participated fully in the first commitment period complied with the protocol. However, nine countries have had to use flexibility mechanisms by financing emission reductions in other countries, with their domestic emissions slightly above their targets. The financial crisis of 2007/2008 helped reduce emissions. The largest emission reductions occurred in the former Eastern bloc countries, because the dissolution of the Soviet Union reduced its emissions in the early 1990s. [7] Although all 36 industrialized countries have reduced their emissions, global emissions increased by 32% between 1990 and 2010. [8] Following the end of the first commitment period of the Kyoto Protocol in December 2012, the Parties to the Protocol met in Doha, Qatar, to discuss an amendment to the original Kyoto Agreement. The Doha Amendment added new targets for the second commitment period 2012-2020 for participating countries, during which the Parties committed to reducing greenhouse gas emissions by at least 18% compared to 1990 levels The Emission limitations of annex I Parties vary from Party to Party. [36] Some parties have lowered emission limits below the base year level, some have restrictions at the base year level (no increase allowed above the base level), while others have base year limits. Under the Kyoto Protocol, 37 industrialised countries and the European Community (the European Union-15, composed of 15 countries at the time of the Kyoto negotiations) commit to achieving binding GHG emission targets. [29] The targets are the four greenhouse gases, carbon dioxide (CO2), methane (CH4), nitrogen gas (N2O), sulphur hexafluoride (SF6) and two gas groups, hydrofluorocarbons (HFCs) and perfluorocarbons (PFCs).
[32] The six greenhouse gases are translated into CO2 equivalents when determining emission reductions. [33] These reduction targets apply in addition to industrial gases, chlorofluorocarbons or CFCs treated in the 1987 Montreal Protocol on Substances that Deplete the Ozone Layer. The Protocol established market mechanisms based on emissions trading. It has enabled countries to achieve their targets through three market-based mechanisms: the International Emissions Trading Scheme, the Clean Development Mechanism (CDM) and Joint Implementation. Gupta et al. (2007) evaluated the climate policy literature. They found that no relevant assessment of the UNFCCC or its protocol has stated that these agreements have been or will be successful in addressing the climate problem. [23] These assessments provided that the UNFCCC or its protocol would not be amended. . .
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