The Kyoto protocol has a common target of 5.2% down from the 1990’s level of greenhouse gases emissions. However, it has set individual targets for counties. Moreover, it has also set forth some innovative mechanisms, provisions and credits to help and motivate the nations in achieving these goals. The finishing period for the targets is 2008-2012.
The three mechanisms are as follows:
1. Clean Development: In this mechanism, the Annex-1 countries come up with projects that would help the developing nations with clean development. In turn, the Annex-1 states get credits.
2. Joint Implementation: A ratified member can participate in an emissions reduction project in another county and earn credits.
3. Emission Trading: The members can sell their units they have gathered under the protocol to fulfill the Annex-B obligations.
If a country fails to meet its target, it has to take responsibility and given an account for failing to the Conference of Parties. That government would be advised on how to resolve the issue. Its target for the second phase could also be made higher.