Since it was introduced in 1997, the Kyoto protocol has been facing the criticism that it will have very little climatic effect for the high economic effect it demands. Within its target period, it did not have its desired effects in terms of reduction in the emission levels. However, with everything set up for the fight against global warming, it might have a positive effect of reducing the emissions to the desired levels in the long run (really long time).
The economic effect of the project could be a disappointment now, especially because many drastic measures are necessary in the beginning to accommodate the project. However, over the period of time, the costs will reduce drastically and the climatic impact will start making up for the economic impact. Maybe, it will even start having positive economic impact.