Question

What is the significance of Kyoto Protocol?

Hint:

Remember 3 mechanisms: ET, JI, CDM; and principle CBDR.

Answer 1

Kyoto operationalised common but differentiated responsibilities, created market mechanisms—\textit{Emissions Trading}, \textit{Joint Implementation} and the \textit{Clean Development Mechanism}—and established monitoring, reporting and verification rules. Although limited to Annex I commitments, it pioneered carbon markets and laid institutional groundwork later broadened by the 2015 Paris Agreement’s economy-wide pledges from all parties (≈58 words).