Saturday, December 03, 2005

Kyoto Protocol cranks into life.

Carbon now has a market value:
PRESS RELEASE

Montreal climate conference adopts ?rule book? of the Kyoto Protocol
(Montreal, 30 November 2005)

The United Nations Climate Change Conference in Montreal on Wednesday finalized the ?rule book? of the Kyoto Protocol, the 1997 landmark treaty designed to curb greenhouse gas emissions.

Under the Kyoto Protocol, which entered into force 16 February 2005, more than 30
industrialized countries are bound by specific and legally binding emission reduction targets. As a first step, these cover the period 2008-2012.
The President of the Conference, which includes the first ever meeting of the 157 Parties to the Kyoto Protocol, St├ęphane Dion, said: ?The Kyoto Protocol is now fully operational. This is an historic step.?

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