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Emissions trading under the Kyoto Protocol: NAFTA
I. INTRODUCTION In response to international concern surrounding the effects of global climate change, the Kyoto Protocol1 to the United Nations Framework Convention on Climate Change2 was drafted in 1998 at the third meeting of the Conference of Parties (COP-3). Global warming is caused b y the presence and continued release of large quantities of greenhouse gasses into the atmosphere, and the Kyoto Protocol is aimed at reducing emissions of these gasses. The Kyoto Protocol requires nations that are party to the treaty to reduce greenhouse gas emissions to approximately five percent below 1990 levels by the year 2012. The Kyoto Protocol is currently undergoing a continued drafting process ...
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