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Reducing GHG Emissions : The Kyoto Mechanisms
The Kyoto Protocol has put in place three flexibility mechanisms to reduce emission of Green House Gases. Although the Protocol places maximum responsibility of reducing emissions on the developed countries by committing them to specific emission targets, the three mechanisms are based on the premise that reduction of emissions in any part of the globe will have the same desired effect on the atmosphere, and also that some developed countries might find it easier and more cost effective to support emissions reductions in other developed or developing countries rather than at home. These mechanisms thus provide flexibility to the Annexure I countries, helping them to meet their emission reduction obligations. Let us take a look at what these mechanisms are.
What are the three flexibility mechanisms put in place by the Kyoto Protocol for reducing GHG emissions ?
The three mechanisms are Joint Implementation, Emissions Trading and Clean Development Mechanism.
What is Joint Implementation?
Through the Joint Implementation, any Annex I country can invest in emission reduction projects (referred to as "Joint Implementation Projects") in any other Annex I country as an alternative to reducing emissions domestically. Two early examples are change from a wet to a dry process at a Ukraine cement works, reducing energy consumption by 53 percent by 2008-2012; and rehabilitation of a Bulgarian hydropower project, with a 267,000 ton reduction of CO2 equivalent during 2008- 012.
What is Clean Development Mechanism ?
The Clean Development Mechanism (CDM) allows a developed country with an emission reduction or emission-limitation commitment under the Kyoto Protocol to implement an emission reduction project in developing countries as an alternative to more expensive emission reductions in their own countries. In exchange for the amount of reduction in emission thus achieved, the investing country
gets Carbon Credits which it can offset against its Kyoto targets. The developing country gains a step towards sustainable development.
