Kyoto Protocol (K.P.)

curbs global warming by cutting six greenhouse gas emissions.

Annual Meetings are held to formulate Framework Convention on Climate Change:


Council of the Parties Six                    The Hague, Netherlands          11-13 to 24, 2000

COP-6 bis      (6.5)

Council of the Parties Six (part two)   Bonn, Germany                       7-18 to 31, 2001         


Council of the Parties Seven                Marrakech, Morocco               11-1 to 14, 2001   




1971 – 1998 carbon dioxide emissions have been growing = approx. 6 gigatons / annum

In 1990 13.7 gigatons per year were accounted for in the Protocol. (4.9 gigatons from USA.)

To stabilize carbon dioxide levels at double the level currently and 80% reduction in carbon emissions is needed. Kyoto negotiated a means to reduce emissions by 5%.



Failure at The Hague led to a second COP-6 meeting in Bonn, after the US election where Gore, a proponent of Kyoto, failed to win election in the Electoral College. To trade emissions 178 nations agreed to a set of accounting rules at COP-7. The accounting system was based on the means created to allow for full flexibility under the KP.



As listed below, these series of credits are based on the renegotiated agreements in Bonn:


COP negotiations under the Framework Convention on Climate Change Treaty (1992)


1997    Kyoto meeting

1998    Buenos Aires meeting 

1999    Bonn meeting

2000    The Hague meeting

2001    Marrakech meeting


Types of carbon credits

[All figured in terms of carbon tons measured in terms of carbon dioxide equivalents]

AAU – Assigned Amount Units              negotiated in Kyoto (1997), reduction targets

Each nation in Annex 1 is assigned a designated quantity of credits based on their reduction commitments.

CER – Certified Emission Reductions     awarded for CDM projects: (Article 12)

Clean Development Mechanism credits awarded to benefactor (developed / Annex 1) nations for investments

ERU -  Emission Reduction Units                        awarded for J.I. projects:

Joint Implementation [J.I.] credits awarded to benefactor nations for projects to offset existing emissions.

RMU - Removal Units                                negotiated at the Hague & Bonn, 2001

Temporary credits awarded to benefactor nations for actions taken that expire in 2012 and may be traded.