What is it?
The Kyoto Protocol is the first international treaty to set legally binding emissions-reduction targets for developed countries that have ratified it.
Under the Kyoto Protocol most industrialised nations and some central European economies in transition agreed to legally binding emissions-reductions targets (known as Annex I countries), which would collectively result in greenhouse gas emissions reductions of 5.2% below 1990 levels between the years 2008 and 2012 (the 'commitment period').
Why is it important?
The KP architecture is the product of many years of negotiation between Parties. It provides a top-down, multilateral, rules based comprehensive framework. While not perfect, it is a basis on which to build. The first commitment period of the Protocol is due to expire in 2012 and parties have now got to decide whether to write commitments for 2020 into a 2nd commitment period (KPII).
Where are we now?
The EU has stated that it is open to a second commitment period of the Kyoto Protocol but only provided that we see at Durban a roadmap towards a multilateral, rules-based legal framework which engages all Parties and includes mitigation commitments from all major economies. This timeline should have a date attached, bearing in mind the 2013-15 Review, and should specify a process for the negotiation of the framework. EU Ministers also made clear that there should be convergence between this new framework and the Kyoto Protocol track no later than 2020, after a second commitment period.
What can be achieved at Durban?
The UK would like to see agreement on a comprehensive legal treaty now, but a number of major developed and developing countries are not ready yet. These are politically and technically complex negotiations and we do not expect a single breakthrough moment in the near term. It will be challenging but it is possible to take steps forward towards our goal and we remain committed to this.