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

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.