OBJECTIVE FORESTRY

Detailed explanation-1: -In short, the Kyoto Protocol operationalizes the United Nations Framework Convention on Climate Change by committing industrialized countries and economies in transition to limit and reduce greenhouse gases (GHG) emissions in accordance with agreed individual targets.

Detailed explanation-2: -Emissions trading, as set out in Article 17 of the Kyoto Protocol, allows countries that have emission units to spare-emissions permitted them but not “used”-to sell this excess capacity to countries that are over their targets. Thus, a new commodity was created in the form of emission reductions or removals.

Detailed explanation-3: -The US is by far the largest historical emitter, responsible for over 20% of all emissions, and the EU is close behind. China falls to third when climate pollution is tallied this way, with about half the US’s total contribution.