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Political setting
By adopting the Framework Convention on Climate Change, the international community agreed in 1992 to protect the Earth’s climate for present and future generations. The Convention’s objective is to stabilise greenhouse gas emissions at a level that would prevent dangerous anthropogenic interference with the climate system. This should allow ecosystems to adapt naturally to climate change, and enable economic development to proceed in accordance with the principle of sustainability. In 1997 the Kyoto Protocol established that industrialised states are to be subject to binding greenhouse gas emissions reduction targets. The Protocol requires that overall emissions be reduced by 5 percent from a 1990 baseline in the period from 2008 to 2012. To allow cost-effective compliance with commitments, the Kyoto Protocol provides for "flexible mechanisms". Under these mechanisms, emissions can be reduced where this can be done at least cost. The Clean Development Mechanism (CDM) is the flexible mechanism that involves developing countries in Kyoto Protocol implementation. These countries have no reduction targets in this commitment period; however, the Climate Change Convention and the Protocol promise support to them for their climate change mitigation activities. The Climate Change Convention is being further developed and implemented through decisions adopted by the Conference of the Parties (COP). At the last COP sessions, the developing countries stressed that, for them, adaptation to climate change plays a key role; they are increasingly feeling the threats presented by climate change. |