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Kyoto
Protocol
What is Kyoto Protocol
It is a pact agreed between
various governments at a UN conference in 1997 in Kyoto ,Japan
to reduce the greenhouse gases emitted by developed nations
by approx 5.2% of levels existing in 1990 during 2008-2012.156
countries have ratified the pact.except USA on the plea that
it is too expensive to implement & that it does not bind developing
nations legally.
In 1992 various governments agreed to control climate changes
at an Earth Summit in Rio de Janeriofor the first time.However,Kyoto
protocol is first legally binding global agrrement w.e.f 16th
Feb05 to reduce greenhouse gases considered responsible for
global warming.It accounts for approx 65% of total emissions
of developed nations.
The countries not able to keep commitments will have to not
only fulfill target but also 30% more in second phase commencing
from 2013.
Do all countries need to cut emission by 5.2%
No,only 39 most developed nations have been given target levels
for 2008-2012 because developed nations are most responsible
& are required to lead.US emissions are up by 13.1%.
Green House Gases (GHG)
The greenhouse gases trap heat in earth's atmosphere .The main
is carbon dioxide most of which comes by burning fossil fuel.The
protocol also covers gases like methane ,nitrous oxide from
fertilizers.
How will countries comply
The EU set up a market in Jan 05 under which approx 12,000 factories
& power stations are gven CO2 quota.If they overshoot,they can
buy credits from market or pay penality.If they undershoot,they
can sell them.
How the Indian Foundry Industry Can Benefit?
Since the cost of reduction of GHG in developed countries is
exhorbitant as compared to developing nations like India,the
developed nations who are signatory to protocol have been given
option to buy credits from such developing countries at much
cheaper rates as this will also fulfill the objective of reduction
of GHG & global warming.This should motivate to the foundry
industrial clusters not only to reduce pollution but also get
a direct financial benefit by selling carbon credits thereby
making them competitive.
Director
Foundry Informatic Centre,Delhi
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