Purpose and issues
At the third COP of the Framework Convention on Climate Change, gathered in Kyoto in December 1997, an additional Protocol was adopted. The 39 countries listed in Annex I of the Convention (OECD countries and those “undergoing the process of transition to a market economy”) accepted legally-binding commitments to limit and reduce emissions for 2008 to 2012. This implies a reduction of at least 5% over 1990 levels for six greenhouse gases, including carbon dioxide and methane.
The Protocol specifies that Annex I economies must fulfil their commitments by regularly reviewing their energy, agriculture, and forestry policies. They must also provide new or bolstered financial aid to developing countries, facilitating and financing any necessary transfers of technology.