...emission limits for industrialised couuntries from 1990 -> 2008/12. THe trreaty expires in 2012, and international talks began in May 2007 on a future treaty to suceed it.
Russia agree to the treaty in November 2004, so it became legally binding in 2005 -> meeting the criteria that more than 55parties ratified the protocol (including countries responsible for 55% of industrialised countries CO2 emissions in 1990. By 2006, 162 couuntries has ratified. However the US and Australia have not so they remain outside of the legal requirements
In 2003, the UK government pedged to reducde CO2 emissions by 20% on 1990 levels by 2012. However, greenhouse gas emissions are increasing, drivien by an increase from the energy sector. The government responded with the DTI energy challenge, with revised targets to cut CO2 by 40% by 2050
China has passed the US in total annual emissions and the Chinese Premier has called onthe naiton to redouble its efforts to tackle pollution and global warming
... A scheme that allocates permissble amouunts of carbon usage to counteries according to their apparent need (size, level of industrialisation). They are used in national and international emissions trading schemes that have been implemented to mitigate global warming. The aim is cap total annual emissions and let the free market assign monetary value to any shortfall through trading. Credits can be exchange between businesses or bought and sold on international markets in a way that is meant to balance the costs and benefits of CO2 emissions Credits can also be used to finance carbon reduction schemes between trading partners. Many companies sell credits to commercial adn individual customers who are interested in lowering their overall caron footprint by 'carbon offsetting'. By purchasing credits from a investment fund or a carbon development company, companies concerned that they might exceed their own credit limti can, in theory, counteract this by buying additional credit For example, if an organisatino unable to use its quota sells excess credits to a richer country or organisation that requires more to avoid exceeding its own limit, then it ca be argued that they both benefit