Industrialised countries have committed to cut their combined emissions to 5% below 1990 levels by 2008 - 2012.
The Kyoto Protocol finally came into effect on February 16, 2005, 7 years after it was first negotiated
It could only come into force after two conditions had been fulfilled:
It had been ratified by at least 55 countries
It had been ratified by nations accounting for at least 55% of emissions from what the Treaty calls "Annex 1" countries
average delivered energy costs (in inflation-adjusted 1996 dollars) must be between 17 and 83 percent higher than projected in 2010.
EU countries are expected to cut their present emissions by 8% and Japan by 5%. Some countries with low emissions were permitted to increase them.
Russia supports Canada's decision to pull out of the Kyoto protocol, says its foreign ministry, reaffirming Friday that Moscow will not take on new commitments.
Energy consumers will need to use between 2 and 12 percent more natural gas in 2010 and between 2 and 16 percent more renewable energy, and extend the operating life of existing nuclear units.
Looking ahead, a wide range of other options need to be considered to promote long-term climate protection and bridge the growing divide among nations over how to take action.
Canada's environment minister Peter Kent defended the decision on Monday, saying it would save the country $14bn in emissions trading permits it could have had to buy for not achieving its Kyoto targets.
Kyoto Protocol—an international treaty to control greenhouse gas emissions that are trapping heat in the atmosphere.
The Kyoto Protocol decided upon:
1) emission-reduction targets of greenhouse gases for each of the member countries
2) a greenhouse gas emission-trading program
3) holding future meetings to set penalties for violators of the established targets and regulation rules of the emission-trading program