Kyoto Protocol Definition

Kyoto Protocol is also known as Kyoto Accord, a framework that binds industrial countries to play their role to the cleaner environment under the United Nations Climate Change Charter. Kyoto Protocol is a global agreement that focuses on the reduction of carbon dioxide discharge and greenhouse gases presence. Kyoto Protocol signatory countries are allowed the utmost level of carbon discharge and can contribute to the credit trading of carbon. It is considered a serious violation if any country crosses the designated threshold of carbon emission. Hence, as a penalty against emission violation, the violating country has to reduce its emission to a lower level during the coming period. The name of Kyoto Protocol has been assigned to this agreement because the agreement took place in the Japanese city of Kyoto in 1997. The application of Kyoto Protocol is on six types of greenhouse gases that have been listed IN UNFCCC Annex A. 

A Little More on What is the 'Kyoto Protocol

Kyoto Protocol divides countries into Annex I and Non-Annex I, according to the level of industrial emission. Developed countries have been placed in Annex I as their industrial emission is extremely high in volume. In comparison, the developing countries have been listed in Non-Annex list. These states contribute to the reduced emissions within their territories by making investments in lower scale emission projects. This benefits Non-Annex I countries in earning carbon credits. Annex I countries purchase these carbon credits from Non-Annex I countries to increase their industrial activities because these credits permit Annex I countries a larger amount of carbon emission. 

References for Kyoto Protocol 

• https://www.investopedia.com/terms/k/kyoto.asp
• https://en.wikipedia.org/wiki/Kyoto_Protocol
• https://whatis.techtarget.com/definition/Kyoto-Protocol

Academic Research on Kyoto Protocol 

• The Kyoto protocol of IASP Basic Pain Terminology,Loeser, J. D., & Treede, R. D. (2008). . Pain, 137(3), 473-477. 
• Tropical deforestation and the Kyoto Protocol, Santilli, M., Moutinho, P., Schwartzman, S., Nepstad, D., Curran, L., & Nobre, C. (2005). Climatic Change, 71(3), 267-276. The current yearly tropical deforestation rates in Indonesia and Brazil stand solely equal to 4-5th of the emission. It was achieved by applying the Kyoto Protocol in its first targeted period. The application of the Kyoto Protocol is to avoid any danger to the climate system. The research presents a new plan known as compensated reduction. This means countries that decrease deforestation at the national level in coming times would benefit from retroactive compensation. Such initiatives would help to deforestation decline and thus developing countries would share their role in the successful implementation of the Kyoto Protocol even beyond the committed period. 
• Dangerous climate impacts and the Kyoto Protocol, O'neill, B. C., & Oppenheimer, M. (2002). The United Nations Climate Change framework explains long-term goal to stabilized climate change mechanism and to reduce increasing greenhouse gases to a certain level. This is to prevent hazardous anthropogenic interference to the overall climate system. ONeill and other theorists such as Oppenheimer propose credible explanations of that. It would cause harm to the coral reef, melting of the ice sheet in Antarctic and disturbance to ocean circulations due to climate change. Due to these factors, Kyoto Protocols implementations would serve as the first step to avoid uncertain climate change occurrences. 
• Multi-gas assessment of the Kyoto Protocol, Reilly, J., Prinn, R., Harnisch, J., Fitzmaurice, J., Jacoby, H., Kicklighter, D., ... & Wang, C. (1999). Nature, 401(6753), 549. The reduction index of greenhouse gases indicates that Kyoto Protocol implementation helps to reduce global warming threat. An integrated model shows that a multi-gas control is more helpful than implementing sole CO2 control strategy. The extension to 2100 of the Kyoto Protocol without any further dangerous emission reductions indicates a slight difference in both the strategies related to climate and effects of the ecosystem. More tighten emission policy and the use of Kyoto Protocol in the context of global warming leads to significant control. Multi-gas strategies are less mitigated for changing climate comparing with CO2 control. This also shows the political influence and role over global warming issues. 
• The Kyoto Protocol: CO2 CH4 and climate implications, Wigley, T. M. (1998). Geophysical research letters, 25(13), 2285-2288. This article examines certain implications of the Kyoto Protocol for carbon dioxide, sea level, and temperature. Three scenarios have been conceived related to post-Kyoto emission decline. Long-term effects are small. Protocol limitation is understood in the context of carbon dioxide CH4 emissions decline. A new index FEI (Forcing Equivalence Index) is used for emissions comparisons. GWPs is also used to get carbon dioxide equivalence. 
• Global warming, commitment to the Kyoto protocol, and accounting disclosures by the largest global public firms from polluting industries, Freedman, M., & Jaggi, B. (2005). The International Journal of Accounting, 40(3), 215-232. This paper examines the role of organizations from Kyoto Protocol ratified countries with others. The research relays on the data extracted from the various organization doing business in chemical, gas, energy, automotive and oil sectors. The results indicate that organization in Kyoto Protocol signatory countries openly disclose their indexes comparing with the organization of other countries. Large scale organization discloses comprehensive details related to pollution information. Some multinational organizations from Protocol ratified countries keep their offices in lower disclosure countries. Shareholders often remain unaware of their investments and social responsibility. 
• The Kyoto Protocol: a cost-effective strategy for meeting environmental objectives?, Manne, A. S., & Richels, R. G. (2000). In Efficiency and equity of climate change policy (pp. 43-61). Springer, Dordrecht. Kyoto Protocol stands for a milestone to control climate policy. Negotiators have established targets for the twenty-first century to reduce emissions. The target for Annex I countries for the period of 2008-2012 is 5% reduced emissions to 1990 emission levels. This Protocol is still implementable as it requires 55 countries to sign the protocol. 
• Free trade and global warming: a trade theory view of the Kyoto protocol, Copeland, B. R., & Taylor, M. S. (2005). Journal of Environmental Economics and Management, 49(2), 205-234. The paper investigates many important results of environmental economics. The results are not true as these need amendment in the international trade context. Although, some of the results are under re-examination at present. It is believed that emission decrease from rich North would persuade poor South to reduce its emissions. Certain simple principles can be applied to reduce emission. If global emission permit trading occurs it would raise global emission. 
• A review of remote sensing technology in support of the Kyoto Protocol, Rosenqvist, ., Milne, A., Lucas, R., Imhoff, M., & Dobson, C. (2003).Environmental Science & Policy, 6(5), 441-455. The following research examines the spectrum of sensing technology in the context of the Kyoto Protocol of UNFCCC. The research includes the discussion related to Kyoto implications, and use of certain terms as affprestatopm and forest, deforestation as reforestation. The research also investigates the role of sensing technology in the relation of the Kyoto Protocol, its use in the future and its results in present. This leads to an outline of some recommended actions for the future. 
• Requiem for Kyoto: an economic analysis of the Kyoto Protocol, Nordhaus, W. D., & Boyer, J. G. (1999). The Energy Journal, 93-130. This paper examines RICE-98 model to evaluate Kyoto Protocol economics. It examines the use of different Kyoto Protocol versions related to emission control and compares these versions to efficient approaches. The present value of the Kyoto Protocol has been figured $716 billion. The US shares the 2-3rd of the cost. Kyoto Protocols benefit-cost percentage is 1/7. Emission plans are cost-ineffective. The cost of the decline in temperature is 8 times to the expenses of a strategy. This indicates that Annex I states freely trade using carbon permits. 
• Political economy of the Kyoto Protocol, Barrett, S. (1998). Oxford review of economic policy, 14(4), 20-39. Kyoto Protocol treaty, since 1997 is used to control and limit greenhouse gases emission. However, Kyoto does not lay the foundation that how international cooperation can be established to reduce emission. The following research indicates that Kyoto implementation is cost effective and result producing. It possible that the Kyoto Protocol might not be promising to achieve its set target as a business organization can shift in areas where the Kyoto Protocol is not enforced. Kyoto flaws require to be addressed and resolved despite the fact of its difficult task. 
• The Kyoto Protocol: regional and sectoral contributions to the carbon leakage, Paltsev, S. V. (2001). The Energy Journal, 53-79. Carbon emission can increase in non-Kyoto ratified countries. This will increase the emission problem. Kyoto Protocol forces many countries to limit the emissions however, some countries do not follow abatement commitments. Kyoto Protocol allows 10% leakage of carbon. A decomposition principle is used but that increase the emission of carbon dioxide. This happens in particular sectors of abating states. The research highlight the role of tax exemption in certain countries that contribute to emission. It is not justifiable to exempt any sector from the carbon tax as this situation decreases the welfare prospect in a particular society. Fossil-fuels are major contributors to carbon dioxide emissions as they are largely used as substitution elasticities.