In spite of some superficial success in achieving its overall global
target, there has been much disillusionment with the progress on climate
change since the Kyoto Protocol was negotiated in 1997. The key problems
in addressing GHG emissions under the Kyoto Protocol have been the incomplete
coverage across countries and lack of credibility. While significantly
more onerous reduction commitments should be expected and required of
developed countries in the name of economic fairness, GHG emissions
must also be capped effectively in developing countries.
Keywords: Clean Development Mechanism, Copenhagen Accord, greenhouse
gas emissions, Kyoto Protocol.
