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Entry into Force of Kyoto Protocol Provides New Incentives

March 11, 2005

Charles A. Patrizia and Darin Bifani

Following official ratification by Russia on November 18, 2004, the Kyoto Protocol to the United Nations Framework on Climate Change entered into force on February 16, 2005. The Protocol requires the countries listed on Annex I to the Convention to reduce their respective emission levels of specified greenhouse gases to the levels set forth on Annex B to the Protocol by 2012.1 To assist Annex I countries in complying with their emission reduction obligations, the Protocol establishes various "flexible mechanisms."

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