UNFCC : Small view

This is international treaty which tries to achieve ways to reduce global warming and ways to cope up with inevitable global warming.

Its sub-part is Kyoto Protocol which is legally binding in nature. Kyoto protocol has provisions for binding targets for 37 industrialized countries.

Target decided is 5% of 1990 level in period 2008-2012. The idea is to solve the common problem in differentiated manner.

Mechanism identified :

1: Emission trading
2: CDM : clean development mechanism
3: Joint implementation

What is emission trading?

Parties of Annex B have accepted to reduce limit their emission . Allowed emissions are divided into " Assigned Amount Units " . One country can sell excess capacity to countries that are above their targets.

Other trading units :

1: Removable units : Land usage change and forestry

2: ERU : Emission Reduction Unit ( by JI )

3: CER : Certified emission reduction ( CDM )

Joint Implementation ( JI ) :
track 1 : Host fulfills all requirements
track 2: If host party meets limited set of eligibility


Clean Development Mechanism ( CDM ) : Emission reduction project in developing countries to earn CER credits.

Examples
1: Rural electrification Project using Solar panel

2: Installation of energy Efficiency boilers