Major Issues discussed in Kyoto
- Emission reduction targets
- Emissions Trading
- Joint Implementation
The key behind the reduction targets is the ‘differentiated responsibility’ principle - that different countries would make different commitments based on their economic circumstances. Although the Berlin Mandate for binding commitments specifically excluded developing countries, the US Senate refuses to ratify any treaty that doesn’t include ‘meaningful participation’ from developing countries
- harnessing the efficiency of the marketplace for the lowest cost solution
- under an international emissions trading regime, a country (or firm) would be able to meet its emissions reduction target by reducing pollution itself, purchasing reduction credits from another country (or firm) that was able to achieve excess gains, or some combination of both
- uses international partnerships on projects to reduce emissions, e.g., a company in the US invests in a project that reduces emissions in another country (such as a developing nation) and uses those reductions as a less expensive means of meeting its own target.