| Climate change politics |
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Climate change politics and the Kyoto Protocol The international process to limit emissions of greenhouse gases is based on the UN Framework Convention on Climate Change, UNFCCC, which was created in 1992 with the aim of preventing 'dangerous anthropogenic interference with the climate system'. More specific goals for reducing emissions were agreed in Kyoto in 1997 when the industrialised countries agreed to reduce the emissions of six greenhouse gases (including carbon dioxide, nitrous oxide and methane) on average by 5 % by the year 2012. The Kyoto Protocol suffered a serious setback when the USA and Russia chose not to ratify the protocol. A sudden change of heart from Russia in 2004 enabled the protocol to enter into force. In addition to physical cuts in carbon dioxide emissions, the Kyoto Protocol allows countries to count so-called 'sinks' - planted forest which takes up carbon dioxide in the timber - in their national emission reduction commitments. Countries can also use the so-called 'flexible mechanisms', emissions allowance trading. The flexible mechanisms are Joint Implementation (JI) and Clean Development Mechanisms (CDM), which make it easier for businesses to influence where, when and to what cost emissions reductions should be achieved. CDM and JI are defined as project based mechanisms. CDM enables countries and businesses to contribute to sustainable development whilst also attaining emission credits, or Certified Emissions Reductions (CERs). The projects involve some form of reduction in greenhouse gases in developing countries, for example through energy efficiency measures or by a transition from fossil fuel to a renewable fuel. The reduction in greenhouse gas emissions is verified and certified and these certified credits are then credited to the country or business that financed the project. Technology transfer and capacity building in host countries are important elements for sustainable development. In addition, there are projects that focus on sustainability in its wider definition, with social and ecological added value in addition to the emissions reductions. U&W [you&we] strongly encourages investment in projects that fit into the latter category. Projects in this category are often certified as Gold Standard. |
