Tham khảo tài liệu 'climate management - solving the problem part 2', khoa học tự nhiên, địa lý phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | The Beginning of Global Warming Management 13 an exchange set up expressly for that a global carbon market. As a business venture the Protocol allows groups of Annex I countries to join together to create a market within a market. Several exist today such as in the European Union EU which created the EU Emissions Trading System EU ETS . The EU ETS uses EAUs EU allowance units which are each equivalent to a Kyoto assigned amount unit AAU . The United Kingdom uses the UK ETS. The sources of Kyoto credits are what are called the clean development mechanism CDM and joint implementation JI projects. The CDM allows the creation of new carbon credits by developing emission reduction projects in non-Annex I countries. Under the Protocol countries actual emissions have to be monitored and precise records have to be kept of the trades carried out. Registry systems trace and record transactions by countries under the mechanisms. The UN Climate Change Secretariat based in Bonn Germany keeps an international transaction log to verify that transactions are consistent with the rules of the Protocol. The enforcement branch was created and given the responsibility to ensure compliance. If it is determined that an Annex I country is not in compliance with its emissions limitation then the country is required to make up the difference plus an additional 30 percent. In addition that country is then suspended from making transfers under an emissions trading program. Since the Protocol s inception it has become apparent that in order to meet the original objective of stabilizing GHG emissions to control global warming even larger emission reductions will need to be achieved than those originally required by Kyoto. The table on page 14 illustrates the changes in GHG emissions of some prominent countries. When the United Nations met at their annual climate conference in December 2005 in Montreal participating nations began negotiations for a second set of targets for the period beginning
