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The Kyoto Protocol was negotiated and agreed in Japan in 1997 in recognition of the need to take urgent steps to reduce man-made greenhouse gas emissions being vented in the atmosphere. The Kyoto Protocol is an international agreement which binds developed countries (Annex I Parties) which have signed and ratified the Protocol to reduce their emissions from six key greenhouse gases to an average of 5.2% below 1990 levels over the energy production from renewables, wastes and low carbon intensive fuelsriod 2008 – 2012. This is known as the first commitment period of the Kyoto Protocol. The idea behind the Kyoto Protocol mechanisms is that they allow flexibility for Parties in meeting their commitments under the Protocol by allowing for emission reductions at the lowest cost by the following three mechanisms: The Clean Development Mechanism (CDM) is a scheme based on the provision of Article 12 of the Kyoto Protocol for greenhouse gas reduction through co-operation between Annex I Parties and non-Annex I Parties (developing countries) which do not have any commitments for reduction. Annex I countries can support sustainable projects in non-Annex I countries by purchasing Certified Emission Reductions (CERs) generated by these projects. The sale of CERs creates an additional return on the project investment. As a result, sustainable projects that would not have been realized otherwise can be implemented. CDM increases the revenue stream of sustainable projects and catalyses clean technology investments in non-Annex I countries. Potential CDM Areas: Energy Production from renewables, wastes and low carbon intensive fuels Energy Efficiency measures like waste heat recovery Installation of energy efficient equipments Switch over to less GHG emitting production processes. Agriculture, Afforestation & Reforestation.
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