Amendment of the Kyoto Protocol

The Kyoto Protocol is the only existing and binding agreement under which developed countries undertake quantitative commitments to cut greenhouse gases. It was amended so that it could seamlessly continue.

♤ 8-year second commitment period, which started on January 1st 2013.

♤ The Kyoto Protocol’s Market Mechanisms - the Clean Development Mechanism (CDM), Joint Implementation (JI) and International Emissions Trading (IET) - will continue.

♤ Access to the mechanisms remains uninterrupted for all developed countries that have accepted targets for the second commitment period.

♤ A key element was added to the measurement, reporting and verification (MRV) framework for developed countries with the adoption of the tables for the biennial reports known as common tabular format, thereby strengthening transparency and the accountability regime.

♤ Surplus assigned amount units (AAUs) can be carried over without limit from the first to the second commitment period of the Kyoto Protocol by Parties included in Annex I that have a target for the second commitment period. But there were restrictions on the use of these carried-over AAUs for the second commitment period and quantitative limits on how many of these units may be acquired from other Parties.