What has Kyoto Protocol got to do with CLIMATE CHANGE, GLOBAL WARMING?

The Kyoto Protocol was a document signed on December 11, 1997 in Kyoto Japan initially ratified by 55 States to the convention  under the aegis of United Nations. By May 2013, 191 countries (including Nigeria) and one regional economic organization(the EC), have ratified the agreement.

The Protocol …recognizes that developed countries are principally responsible for the current high levels of Greenhouse Gas (GHG) emissions in the atmosphere as a result of more than 150 years of Industrial activity and developing countries like Nigeria through the heavy dependence on  fossil fuels like petrol, kerosene, coal, firewood, etc. The Kyoto Protocol to the United Nations Framework Convention on Climate Change( UNFCCC) is thus an International Treaty that sets binding obligations on industrialized countries to reduce emission of these Greenhouse Gases.

Greenhouse Gases include carbon dioxide, methane, nitrous oxide, sulphur hexafluoride, hydro fluorocarbons and per fluorocarbons . These are in addition to the Industrial gases such as chlorofluorocarbons, or CFCs, which are substances that Deplete the Ozone Layer.

The view that human activities are likely responsible for most of the observed increase in global warming since the mid 20^th century is an accurate reflection of current scientific thinking. Human- induced warming of the climate is expected to continue throughout the 21^st century and beyond.

International emissions trading allows developed countries to trade their commitments under the Kyoto Protocol. They can trade emissions quotas among themselves, and can also receive credit for financing emissions reductions in developing countries. Developed countries may use emissions trading until late 2014 or 2015 to meet their first round targets.

Developing countries do not have binding targets under the Kyoto Protocol, but are still committed under the Treaty to reduce their emissions. Actions taken by developed and developing countries to reduce emissions include support for renewable energy, improving energy efficiency, and reducing deforestation. Under the Protocol, emissions of Developing countries are allowed to grow in accordance with their development needs.

Finally, the Protocol also reaffirms the principle that developed countries have to pay billions of dollars, and supply technology to other countries for climate-related studies and projects. One such project is the Adaptation Fund, that has been established by the Parties to the Kyoto Protocol of the UN Framework Convention on Climate Change to finance concrete adaptation projects and programmes in developing countries( like Nigeria) that are parties to the Kyoto Protocol .

Source: http://en.wikipedia.org/wiki/kyoto_protocol

                           

CLIMATE CHANGE, GOOD BUSINESS!!!