Knowing Kyoto Protocol...

The Kyoto Protocol is the globally accepted (signed by most of the countries) Framework/ set of norms/guidelines to reduce greenhouse gases. It considers that cause in the climate change is due to the emissions of common greenhouse gases, ponders a need to accept n acknowledge contribution towards environment.
It was initiated on 11Dec, 1997 by the 3rd Conference of the Parties, in a meeting in Kyoto, and it came into force on 16Feb, 2005. Off lately 182 countries/parties have signed the protocol and wowed to take guideline measures to reduce their carbon footprint.
Countries are divided in 2 halves Annex I(developed) and Non-Annex I( developing) . The division poses a moral responsibility of Annex I to take actions to reduce the emissions and Non-Annex I to take initiative towards it, but are not obliged or bound.
Under this system, the parties are usually provided with a Carbon credit, which entitles the nation of an allowable upper limit of greenhouse gas production. For Annx I countries, they are subjected to a Fine of 1.3 emission allowance per ton of greenhouse gas emitted above their Carbon credit limit.
As for now the plan is, by 2012 Annx I countries should reduce their Carbon foot print by 5% overall, whereas the Non-Annx I countries need to step up their initiatives to cleaner and alternative sources of development.
When implemented the Credit system can also be a source of trade for Annx-I and Non-Annx I economies. If a NA-I economy decides to go for Kyoto Protocol implementation since it would have a large Carbon Credit, this can be sold off to Annx I countries in terms of money/other aid.
The Kyoto protocol is currently under a big debate and contested by policymakers and politicians and even some of the groups.

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