A Better Earth for Tomorrow: Kyoto Protocol Day

The Kyoto Protocol Day was established to commemorate the agreement of many countries to reduce their greenhouse gases emissions. It was opened for signing on December 11, 1997 and entered into force on February 16, 2005. Today, more than 150 countries have signed this agreement and have pledged to reduce their carbon dioxide and 5 other greenhouse gases emissions.

Goals and Measures
The Kyoto Protocol serves to address the issues on climate changes as related to the production of carbon dioxide by developing and developed countries. Carbon dioxide and other greenhouse gases are believed to be detrimental and are causing the adverse weather changes we are experiencing today.

Under the Kyoto protocol, participating developed countries must be able to reduce their carbon dioxide emissions by at least 5% below their 1990 levels. Furthermore, failure to meet this standard would result in the developed country’s being penalized and fined.

Developing countries, however, are exempt from the reduction of their carbon dioxide emissions as they are said to represent only a fraction of per capita carbon dioxide production. Though these countries may be exempt, they are given incentives in the form of tradable carbon credits to encourage them to install carbon emission reducing technologies.

Carbon Credits
Carbon credits are tradable instruments that a developing country can acquire because of the implementation of greenhouse gases emission reduction projects. These carbon credits can then be sold to developed countries that are unable to meet the requirements of the Kyoto Protocol at the present time. This is advantageous to both types of countries as the developed countries can reduce its greenhouse gases emissions at its own pace without being penalized, while developing countries are encouraged by carbon credits to implement carbon dioxide emissions reduction technology.

Kyoto Protocol Issues
One of the major controversies of the Kyoto Protocol and the main reason why some developed countries have not ratified the Kyoto Protocol is the unequal requirements Kyoto Protocol enforces upon its members. China, for example, while being the second largest producer of carbon dioxide and greenhouses gases, is exempt from reducing its emission levels because of its classification as a developing country.

The Australian government states that the benefits of closing down their coal-powered plants would be overshadowed by increased carbon emissions from China after 12 months. The US government also stands behind the assertion that the responsibility to reduce carbon dioxide emissions should be shouldered evenly by all the participating countries especially China and India.

Furthermore, people against the Kyoto Protocol assert that the long term disadvantages to the economy far outweigh the benefits that can be had from this treaty and that the industries from developed countries will only transfer to those developing countries under no such restrictions on carbon emissions.

Nevertheless, the Kyoto Protocol is still widely supported by many countries today especially the European Union. Perfect it may not be, but many believe that it is the first step towards a more comprehensive and ambitious program that may very well decide the future of our planet.