Explanation:

Kyoto protocol :

• The Kyoto protocol was the first agreement between nations to mandate country-bycountry reductions in greenhouse-gas emissions. Kyoto emerged from the UN Framework Convention on Climate Change (UNFCCC), which was signed by nearly all nations at the 1992 mega-meeting popularly known as the Earth Summit.
• During the 1st commitment period, 37 industrialized countries and the European Community committed to reduce GHG emissions to an average of fi ve percent against 1990 levels. During the second commitment period, Parties committed to reduce GHG emissions by at least 18percent below 1990 levels in the eight-year period from 2013 to 2020; however, the composition of Parties in the second commitment period is different from the first.
• Under the Protocol, countries must meet their targets primarily through national measures and also offers them an additional means to meet their targets by way of 3 market-based mechanisms. The Kyoto mechanisms are:
• International Emissions Trading
• Clean Development Mechanism (CDM)
• Joint implementation (JI)