The Kyoto protocol is designed to unite the efforts of the international community in avoiding global climate change and is the first step on the path to reduce emissions of greenhouse gases.
In the first period of the protocol – 2008–2012 – the level of emission of greenhouse gases for the Russian Federation has been set at the level of 1990, which has been accepted as the base level. Subsequent obligations will be determined during talks.
The protocol envisages the mechanism of trading quotas on emissions. The obligations of individual countries not to exceed the level established means that the country has a quota which it can transfer.
The protocol was passed in Kyoto (Japan) on 12 December 1997 and signed by Russia on 11 March 1999. The protocol has now been ratified by 125 nations, including the EU countries, Canada and China.
For the protocol to come into effect, it must be ratified by countries that make 55% of emissions as of 1990. As the U.S. withdrew its signature on the Kyoto protocol, this minimum can only be attained if Russia ratifies the protocol, which is responsible for 17.4% of these emissions.