Climate change : Credit trading and the Kyoto Protocol

CREDIT TRADING AND THE KYOTO PROTOCOL INTRODUCTION The Government of Canada ratified the Kyoto Protocol in December 2002. [...] Those for whom the (1) See the Seventh Report of the Standing Committee on Environment and Sustainable Development, Finding The Energy To Act:. [...] A. International The Kyoto Protocol target requires that industrialized countries and countries in transition to a market economy (together referred to as either Annex I countries in reference to the United Nations Framework Convention on Climate Change (UNFCCC), or Annex B with respect to the Kyoto Protocol) reduce their emissions to 5.2% below 1990 levels during the Kyoto commitment period. [...] The 5.2% target was achieved very soon after 1990 because of the economic collapse of the old East Bloc countries (countries in transition to a market economy), which resulted in their GHG emissions dropping in the order of 40%. [...] The Canadian government would like to use the CDM to help meet its domestic target and its commitments to transfer technology to the developing world.