What is it?
The Kyoto Protocol, signed in 1997 in Japan, was one of the main global agreements related to climate change on the planet. The agreement was drawn up with the aim of proposing goals for countries, seeking to reduce greenhouse gas emissions and, consequently, reduce the negative impacts of these emissions on the environment.
Goals
As a goal, initially, industrialized countries should reduce greenhouse gas (GHG) emissions by 5.2% based on emission levels recorded in 1990. For Japan and the European Union, it was established that the reductions would be 7% to 8%, respectively. Developing countries have not received targets or obligations to reduce their emissions, and in this case, efforts are “voluntary” measures.
Clean Development Mechanisms
The CDM was created based on the Kyoto Protocol with the aim of helping countries meet their targets, establishing flexibility mechanisms to allow greater economic efficiency in mitigating the greenhouse effect. In this context, the concept of carbon credits emerged.
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