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The Kyoto Protocol, negotiated in 1997, is a subsidiary protocol to the UN Framework Convention on Climate Change
(UNFCCC). This international treaty is responsible for setting emission limits for the participating
countries and for the implementation of their climate protection agreements. As of August 2006, 165 countries
ratified the Kyoto Protocol, among them a large number of highly developed nations. The United
States and Australia signed, but not ratified, the Protocol. The commitment period of Kyoto starts in 2008.
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Goals of the Kyoto Protocol
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The contracting parties have the goal of reducing their greenhouse gas emissions by an average of
5.2 percent below the level of 1990 by the year 2012. Depending on the respective degree of
economic development, different targets apply to the individual countries. The UNFCCC has
prescribed an 8 percent reduction in emissions for the EU countries. Russia and the Ukraine have
committed to not exceeding the emission level of 1990, while no limits have been set for the
Republic of China, India and developing countries
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Measures to facilitate compliance
The contracting parties have various options for achieving the targets set under the «cap and trade» system. The three mechanisms are:
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