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United Nations Framework Convention on Climate Change (UNFCCC)

Just over a decade ago, most countries joined an international treaty called the United Nations Framework Convention on Climate Change (UNFCCC) to consider what can be done to reduce global warming and to cope with whatever temperature increases are inevitable. More recently, a number of nations approved an addition to the treaty: the Kyoto Protocol, which has more powerful (and legally binding) measures. The UNFCCC secretariat supports all institutions involved in the climate change process, particularly the COP, the subsidiary bodies and their Bureau.

The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions. These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012.

The Kyoto mechanisms
Under the Treaty, countries must meet their targets primarily through national measures. However, the Kyoto Protocol offers them an additional means of meeting their targets by way of three market-based mechanisms.

The Kyoto mechanisms are:

• Emissions trading – known as “the carbon market"
• Clean development mechanism (CDM)
• Joint implementation (JI).

The mechanisms help stimulate green investment and help Parties meet their emission targets in a cost-effective way.

For further information please call one of our specialists today on 0207 718 0127.