Kyoto Protocol
ESG & GovernanceA 1997 climate treaty that set binding emission cuts for developed countries only.
The Kyoto Protocol was the first agreement under the UNFCCC with binding emission targets, but these applied only to developed countries. Developing countries such as India had no binding targets. Kyoto created early carbon market tools, including the Clean Development Mechanism, through which many Indian projects earned tradable credits. It was effectively replaced by the Paris Agreement, which covers all countries.
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