| Kyoto Protocol has provided market based mechanisms to meet the carbon emission targets by the countries party to the protocol. Consider the following statements regarding the market mechanisms. |
| 1. 'Joint Implementation' mechanism is the market mechanism for meeting emission targets between industrialised countries among Annex B parties. |
| 2. Clean Development Mechanism is associated with green projects taken over by industrialised countries in developing countries. |
| 3. International emission trading now create an institutional space for 'carbon market'. |
| 4. The CDM is the main source of income for the UNFCCC Adaptation Fund. |
| Which of the statements given above are correct? |
A) 1 and 2
B) 1, 2 and 3
C) 1 and 4
D) All of these
Correct Answer: D
Solution :
[d] Under the Kyoto Protocol, countries must meet their targets primarily through national measures, but there is an additional means to meet their targets by way of three market- based mechanisms. These are International Emissions Trading, Clean Development Mechanism (CDM) and Joint Implementation (Jl). International Emissions Trading now created 'Carbon Market' as a new commodity for sell that is helping in meeting emission targets. Joint Implementation makes provision for establishing green projects between industrialised countries whereas CDM sets provision for establishing green projects in developing countries by industrialised countries. The CDM Is the main source of income for the UNFCCC Adaptation Fund, which was establish to finance adaptation projects and programmes in developing countries parties to Kyoto Protocol that are particularly vulnerable to the adverse effects of climate change.
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