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The European Union was instrumental in the creation of the Kyoto Protocol and has reached their targets for 2012. The European Union leaders reached an agreement in March 2007 that by 2020 20% of their final energy consumption should be produced by a renewable energy sources. The European Union often has an internationalist perspective which appears to make it more capable of sacrificing national interests for international objectives.
Canada's federal government has withdrawn from Kyoto and has signed the Copenhagen Accord which is a non binding agreement, unlike the Kyoto Protocol. Under the Copenhagen Accord Canada has agreed to reduce its GHG emissions by 17% from its 2005 levels by 2020.
The United States perspective regarding the Kyoto Protocol is that it could cause potential damage to the U.S economy and the division between Annex 1 and developing countries was unfair.
Developing countries do not have binding targets and are encouraged to participate in the clean development mechanism.
There is no binding targets for developing countries so there is no consequence if they do not participate.
Alberta was concerned that the Kyoto Protocol would greatly effect the economy and the oil sands, which would cause many jobs to be lost and investments could be jeopardized. At the time of the Protocol Alberta was producing approx. 35% of Canada's GHG emissions.
The Liberal government in power in 1997 was enthusiastic about the Kyoto Protocol and was involved in the development of the protocol however failed to implement any substantial initiatives to accomplish the targets under Kyoto.
Developed countries are expected to ratify binding contracts to lower CO2 emissions. The targets ranged from -8% to +10%
If the developed countries are not able to meet their targets there are mechanisms like the clean development mechanism that allows developed countries to implement a emission-reduction project in developing countries. these projects earn countries certified emissions reduction credits.
Many critics of the Kyoto Protocol argue that because developing countries are exempt from lowering their GHG emissions the overall effectiveness of the Protocol is undermined. Critics believe that countries who have no limits on their GHG emissions have a advantage in the global economy.
Critics of the Kyoto Protocol contend that the rates set out in the protocol are too aggressive and that they would cause widespread economic problems. Many argue that the job loss and sacrifice would outweigh the benefits of the Kyoto Protocol.
The Kyoto Protocol is a international agreement to combat global warming.
Climate change is one of the most important and crucial issues in today's age and GHG emissions are a major cause of that. Climate change is a issue that effects all nations and the future of the protocol relies on the willingness of all countries to take the pledge and reduce GHG emissions. I agree with Environment minister Peter Kent that "The Kyoto protocol does not cover the world's largest two emitters, the United States and China, and therefore cannot work." With over 40% of the worlds emissions exempt, any sacrifice made by countries who have signed a binding agreement does not seem worth while.
The first commitment period for Kyoto Protocol was 2008-2012. The second commitment period is 2013-2020.
Canada had renounced their involvement with the Kyoto Protocol after the Durban conference on December 15, 2011 because Canada would have to spend 14 billion dollars on carbon credits that because the country has fallen so far behind on their targets. Stephen Harper argues that a legally binding deal that does not include the two largest GHG emitters- China and the United States- would hurt Canada's competitiveness and prove ineffective at reducing global emissions.
Peter Kent, Canada's environmental minister, believes that Canada will support the new protocol envisioned at the Durban Conference will be the path forward.