Progress of Fulfilment of the Kyoto Objectives by the European Union

Author:Paul Calanter
Position:PhD., Romanian Academy-Institute for World Economy, Romania
Pages:291-298
SUMMARY

Climate change is one of the most important challenges that humanity faces in the 21st century, which is seriously considered by the European Union. In this context, the objective of this paper is to analyze the extent to which the EU has fulfilled its obligations in the first commitment period of the Kyoto Protocol, and also to expose the obligations stipulated for the second period (2013-2020). ... (see full summary)

 
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Globalization and Cultural Diversity
291
Progress of Fulfillment of the Kyoto
Objectives by the European Union
Paul Calanter
1
Abstract: Climate change is on e of the most important challenges that humanity faces in the 21st century,
which is seriously considered by the European Union. In this context, the objective of this paper is to analyze
the extent to which the EU has fulfilled its o bligations in the first commitment period of the Kyoto Protocol,
and also to expose the obligations stipulated for the second period (2013-2020). The approach is to display in
the first part of the work the fulfillment by the European Union of the Kyoto objectives, and in the second
part, to analyze the successful implementation in the EU of the flexible mechanisms provided through the
Protocol.
Key words: emissions; flexibile mechanisms; policies; greenhouse gases (GHG)
1. Introduction
For the European Union, combating the phenomenon of climate change is an essential element for the
economic and social development. This fact is reflected both in the actions carried out by the EU in
recent years, domestically and internationally, as well as in its policy on climate change. The EU
adopted regulatory acts that demonstrate the importance they attach for limiting climate change, as
well as for the compliance with the Kyoto objective.
2. Kyoto Protocol
The third annual Conference of Parties to the United Nations Framework Convention on Climate
Change has adopted the Kyoto Protocol (KP), which sets the target for reducing GHG emissions for
each Party to this Convention. The Protocol has provided a process of implementation, in the form of a
comprehensive strategy for limiting and reducing GHG emissions, by establishing specific targets and
flexible mechanisms.
The Kyoto Protocol provides the following flexible mechanisms that were created to help the Parties
to fulfill their commitments to reduce GHG emissions:
International Emission Trading (IET);
Clean Development Mechanism (CDM);
Joint Implementation (JI).
The flexible mechanisms that were agreed under the Kyoto Protocol, offered to the industrialized
countries the opportunity to fund projects through the sale of emission reduction units (ERU).
1 PhD., Romanian Academy-Institute for World Economy, Romania, Addresss: 13 Calea 13 Septembrie, Sector 5, Bucharest
050711, Romania, Tel.: 40-21-318.24.55; 318.24.60, Fax: 40-21-318.24.54, Corresponding author:
paul.calanter@yahoo.com.

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