With reference to the Flexible Mechanisms of Kyoto Protocol which of the following is are correct st...........

Environment and Ecology (Easy) Envirnment and Climate Change

With reference to the Flexible Mechanisms of Kyoto Protocol, which of the following is / are correct statements?

1.Through Clean Development Mechanism(CDM),any Annex I country can invest in emission reduction projects in any other Annex I country as an alternative to reducing emissions domestically.

2.Through Joint Implementation(JI), countries can meet their domestic emission reduction targets by buying greenhouse gas reduction units from (projects in) non Annex I countries to the Kyoto protocol (mostly developing countries). Select the correct option from the codes given below:

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

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Explanation:

The ‘flexible mechanisms’ of the Kyoto Protocol were included for the first time in the COP-6, held Bonn, Germany. Flexible mechanisms or Kyoto Mechanisms, refer to Emissions Trading, the Clean Development Mechanism and Joint Implementation.
1.Emissions trading (ET)-The Emissions Trading-mechanism allows parties to the Kyoto Protocol to buy ‘Kyoto units'(emission permits for greenhouse gas) from other countries to help meet their domestic emission reduction targets.
2.Joint Implementation (JI)- 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.
3.Clean Development Mechanism (CDM)-Through the CDM, countries can meet their domestic emission reduction targets by buying greenhouse gas reduction units from (projects in) non Annex I countries to the Kyoto protocol(mostly developing countries). Non-Annex I countries have no GHG emission restrictions, but have financial incentives to develop GHG emission reduction projects to receive Certified Emission Reductions that can then be sold to Annex I countries, encouraging sustainable development.