The mechanisms under the Kyoto Protocol: Joint implementation, the clean development mechanism and emissions trading

The Kyoto Protocol broke new ground by defining three innovative 'flexibility mechanisms' to lower the overall costs of achieving its emissions targets. These mechanisms enable Parties to access cost-effective opportunities to reduce emissions or to remove carbon from the atmosphere in other countries. While the cost of limiting emissions varies considerably from region to region, the benefit for the atmosphere is the same, wherever the action is taken...