The Kyoto Protocol is an international agreement linked to the United Nations Framework
Convention on Climate Change.

The Kyoto Protocol treaty was negotiated in December 1997 at the city of Kyoto, Japan
and came into force February 16th, 2005 and is an international agreement linked to the
United Nations Framework Convention on Climate Change.

"The Kyoto Protocol is a legally binding agreement under which industrialized countries will reduce their
collective emissions of greenhouse gases by 5.2% compared to the year 1990 (but note that, compared
to the emissions levels that would be expected by 2010 without the Protocol, this target represents
a 29% cut). The goal is to lower overall emissions from six greenhouse gases - carbon dioxide, methane,
nitrous oxide, sulfur hexafluoride, HFCs, and PFCs - calculated as an average over the five-year period
of 2008-12. National targets range from 8% reductions for the European Union and some others to 7%
for the US, 6% for Japan, 0% for Russia, and permitted increases of 8% for Australia and 10% for Iceland."
– United Nations Environment Programme.

The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialised countries and the European community for reducing greenhouse gas (GHG) emissions. These amount to an average of five per cent against 1990 levels over the five year period 2008 to 2012.

Under the Treaty, countries must meet their targets primarily through national measures. However, the Kyoto Protocol offers them an additional means of meeting their targets by way of three market-based mechanisms:

• Emissions trading - known as “the carbon market"
  
• Clean development mechanism (CDM)
  
• Joint implementation (JI)

The mechanisms help stimulate green investment and help Parties meet their emission targets in
a cost-effective way.

The UK was one of the first countries to introduce carbon reduction legislation and have
committed to an increased reduction rate of 80% by 2050 rather than 50%. This legislation is
called the Carbon Reduction Commitment (CRC).