Definition of Kyoto Mechanisms
Mechanisms under the Kyoto Protocol including International Emissions Trading, Clean Development Mechanism and joint Implementation. It may also be argued that the trading bubble under Article 4 is a key mechanism.
International Emissions Trading
Article 17 of the Kyoto Protocol allows developed countries to participate in emissions trading for the purposes of meeting their assigned amounts. (Australia)
Clean Development Mechanisms
Article 12 of the Kyoto Protocol provides for the CDM whereby developed countries are able to invest in emissions reducing projects in developing countries to obtain credit to assist in meeting their assigned amounts. The details of the CDM have yet to be negotiated at the international level. However, it does allow countries to use credits obtained from the year 2000 for the purposes of meeting their assigned amounts. Participation is voluntary and open to private and public entities alike on a Party-approved basis.
Article 6 of the Kyoto Protocol permits Joint Implementation whereby developed countries are able to invest in projects in other developed countries to acquire credits to assists in meeting their assigned amounts. Countries are only able to use credits generated in the commitment period of 2008 to 2012. Participation is voluntary, and open to private and public entities alike if approved by the Party to the Protocol.