The Role of Sustainable Land Management for Climate ... - CAADP

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4.1.1. UNFCCC
Mitigation
The United Nations Framework Convention on Climate Change (UNFCCC) was developed at
the United Nations Conference on Environment and Development (UNCED) in 1992 (also called
the “Rio Earth Summit”) and entered into force in 1994, with its main objective “to stabilize
GHG concentrations in the atmosphere at a level that would prevent further human-induced
global warming”. Parties to the convention adopted the Kyoto Protocol (KP) in 1997, which
required reductions of emissions of four GHGs (carbon dioxide, methane, nitrous oxide and
sulphur hexafluoride) by “Annex 1” (industrialized) countries relative to their emission levels in
1990 (an aggregate 5.2% reduction, with varying reductions required of different countries). The
KP entered into force in February 2005 and will expire in 2012. As of January 2009, 183
countries had ratified the Protocol 6 , with the United States being the sole Annex 1 country not to
ratify it.
In addition to requiring emissions reductions by Annex 1 countries, the KP provided for
emissions trading through three market mechanisms: i) emissions trading within Annex 1
countries; ii) the Clean Development Mechanism (CDM), through which Annex 1 countries can
purchase certified emission reductions (CERs) by supporting projects implemented in developing
countries; and iii) Joint Implementation (JI), through which Annex 1 countries can purchase
emission reduction units (ERUs) through projects in other developed countries or transition
economies. Emissions trading in the European Union (EU) is by far the largest market, with a
total volume of more than 2 billion tons of CO 2 equivalent (CO 2 e) in emission allowances worth
$50 billion traded in the EU Emissions Trading Scheme in 2007, accounting for more than twothirds
of the entire carbon market (Table 4.1). The CDM is the second largest market,
accounting for CERs of nearly 800 million tons of CO 2 e valued at nearly $13 billion in 2007.
Of these mechanisms, only the CDM supports projects in SSA. The rules of the CDM
allow support to projects that reduce emissions of GHG, such as installation of more efficient
industrial processes or replacement of hydrocarbon fuels by renewable energy sources. In the
agricultural sector, eligible projects include those that reduce GHG emissions through improved
manure management, reduction of enteric fermentation in livestock (e.g., through improved
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) !Technically, these countries had ratified, accepted, approved or acceded to the terms of the Kyoto Protocol (see
http://unfccc.int/kyoto_protocol/status_of_ratification/items/2613.php). All of these terms imply that the terms of
the agreement are legally binding.!
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