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UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE 

The Parties to this Protocol,

Being Parties to the United Nations Framework Convention on Climate
Change, hereinafter referred to as "the Convention",

In pursuit of the ultimate objective of the Convention as stated in
its Article 2,

Recalling the provisions of the Convention,

Being guided by Article 3 of the Convention,

Pursuant to the Berlin Mandate adopted by decision 1/CP.1 of the

Conference of the Parties to the Convention at its first session,

Have agreed as follows:

For the purposes of this Protocol, the definitions contained in Article 1 of
the Convention shall apply. In addition:

1. "Conference of the Parties" means the Conference of the Parties to the Convention.

2. "Convention" means the United Nations Framework Convention on Climate Change,
adopted in New York on 9 May 1992.

3. "Intergovernmental Panel on Climate Change" means the Intergovernmental
Panel on Climate Change established in 1988 jointly by the World
Meteorological Organization and the United Nations Environment Programme.

4. "Montreal Protocol" means the Montreal Protocol on Substances that Deplete
the Ozone Layer, adopted in Montreal on 16 September 1987 and as subsequently
adjusted and amended.

5. "Parties present and voting" means Parties present and casting an affirmative
or negative vote.

6. "Party" means, unless the context otherwise indicates, a Party to this Protocol.

7. "Party included in Annex I" means a Party included in Annex I to the Convention,
as may be amended, or a Party which has made a notification under Article 4, paragraph
2(g), of the Convention.

1. Each Party included in Annex I, in achieving its quantified emission limitation
and reduction commitments under Article 3, in order to promote sustainable development,
shall:

(a) Implement and/or further elaborate policies and measures in accordance
with its national circumstances, such as:

(i) Enhancement of energy efficiency in relevant sectors of the national economy;

(ii) Protection and enhancement of sinks and reservoirs of greenhouse gases not
controlled by the Montreal Protocol, taking into account its commitments under
relevant international environmental agreements; promotion of sustainable forest
management practices, afforestation and reforestation;

(iii) Promotion of sustainable forms of agriculture in light of climate change
considerations;

(iv) Research on, and promotion, development and increased use of, new and
renewable forms of energy, of carbon dioxide sequestration technologies and of
advanced and innovative environmentally sound technologies;

(v) Progressive reduction or phasing out of market imperfections, fiscal incentives,
tax and duty exemptions and subsidies in all greenhouse gas emitting sectors
that run counter to the objective of the Convention and application of market
instruments;

(vi) Encouragement of appropriate reforms in relevant sectors aimed at promoting
policies and measures which limit or reduce emissions of greenhouse gases not
controlled by the Montreal Protocol;

(vii) Measures to limit and/or reduce emissions of greenhouse gases not controlled
by the Montreal Protocol in the transport sector;

(viii) Limitation and/or reduction of methane emissions through recovery and use
in waste management, as well as in the production, transport and distribution
of energy;

(b) Cooperate with other such Parties to enhance the individual and combined
effectiveness of their policies and measures adopted under this Article, pursuant
to Article 4, paragraph 2(e)(i), of the Convention. To this end, these Parties
shall take steps to share their experience and exchange information on such policies
and measures, including developing ways of improving their comparability, transparency
and effectiveness. The Conference of the Parties serving as the meeting of the
Parties to this Protocol shall, at its first session or as soon as practicable
thereafter, consider ways to facilitate such cooperation, taking into account all
relevant information.

2. The Parties included in Annex I shall pursue limitation or reduction of
emissions of greenhouse gases not controlled by the Montreal Protocol from aviation
and marine bunker fuels, working through the International Civil Aviation Organization
and the International Maritime Organization, respectively.

3. The Parties included in Annex I shall strive to implement policies and measures
under this Article in such a way as to minimize adverse effects, including the
adverse effects of climate change, effects on international trade, and social,
environmental and economic impacts on other Parties, especially developing
country Parties and in particular those identified in Article 4, paragraphs 8
and 9, of the Convention, taking into account Article 3 of the Convention. The
Conference of the Parties serving as the meeting of the Parties to this Protocol
may take further action, as appropriate, to promote the implementation of the
provisions of this paragraph.

4. The Conference of the Parties serving as the meeting of the Parties to this
Protocol, if it decides that it would be beneficial to coordinate any of
the policies and measures in paragraph 1(a) above, taking into account different
national circumstances and potential effects, shall consider ways and means to
elaborate the coordination of such policies and measures.

1. The Parties included in Annex I shall, individually or jointly, ensure that
their aggregate anthropogenic carbon dioxide equivalent emissions of the
greenhouse gases listed in Annex A do not exceed their assigned amounts,
calculated pursuant to their quantified emission limitation and reduction commitments
inscribed in Annex B and in accordance with the provisions of this Article, with
a view to reducing their overall emissions of such gases by at least 5 per cent
below 1990 levels in the commitment period 2008 to 2012.

2. Each Party included in Annex I shall, by 2005, have made demonstrable progress
in achieving its commitments under this Protocol.

3. The net changes in greenhouse gas emissions by sources and removals by sinks
resulting from direct human-induced land-use change and forestry activities, limited
to afforestation, reforestation and deforestation since 1990, measured as verifiable
changes in carbon stocks in each commitment period, shall be used to meet the
commitments under this Article of each Party included in Annex I. The greenhouse
gas emissions by sources and removals by sinks associated with those activities
shall be reported in a transparent and verifiable manner and reviewed in accordance
with Articles 7 and 8.

4. Prior to the first session of the Conference of the Parties serving as the
meeting of the Parties to this Protocol, each Party included in Annex I shall
provide, for consideration by the Subsidiary Body for Scientific and Technological
Advice, data to establish its level of carbon stocks in 1990 and to enable an
estimate to be made of its changes in carbon stocks in subsequent years. The Conference
of the Parties serving as the meeting of the Parties to this Protocol shall, at
its first session or as soon as practicable thereafter, decide upon modalities,
rules and guidelines as to how, and which, additional human-induced activities
related to changes in greenhouse gas emissions by sources and removals by sinks
in the agricultural soils and the land-use change and forestry categories
shall be added to, or subtracted from, the assigned amounts for Parties included
in Annex I, taking into account uncertainties, transparency in reporting, verifiability,
the methodological work of the Intergovernmental Panel on Climate Change, the
advice provided by the Subsidiary Body for Scientific and Technological Advice
in accordance with Article 5 and the decisions of the Conference of the Parties.
Such a decision shall apply in the second and subsequent commitment periods. A
Party may choose to apply such a decision on these additional human-induced activities
for its first commitment period, provided that these activities have taken place
since 1990.

5. The Parties included in Annex I undergoing the process of transition to
a market economy whose base year or period was established pursuant to decision
9/CP.2 of the Conference of the Parties at its second session shall use that base
year or period for the implementation of their commitments under this Article.
Any other Party included in Annex I undergoing the process of transition
to a market economy which has not yet submitted its first national communication
under Article 12 of the Convention may also notify the Conference of the Parties
serving as the meeting of the Parties to this Protocol that it intends to use
an historical base year or period other than 1990 for the implementation of its
commitments under this Article. The Conference of the Parties serving as the meeting
of the Parties to this Protocol shall decide on the acceptance of such notification.

6. Taking into account Article 4, paragraph 6, of the Convention, in the implementation
of their commitments under this Protocol other than those under this Article,
a certain degree of flexibility shall be allowed by the Conference of the Parties
serving as the meeting of the Parties to this Protocol to the Parties included
in Annex I undergoing the process of transition to a market economy.

7. In the first quantified emission limitation and reduction commitment period,
from 2008 to 2012, the assigned amount for each Party included in Annex I shall
be equal to the percentage inscribed for it in Annex B of its aggregate anthropogenic
carbon dioxide equivalent emissions of the greenhouse gases listed in Annex A
in 1990, or the base year or period determined in accordance with paragraph 5
above, multiplied by five. Those Parties included in Annex I for whom land-use
change and forestry constituted a net source of greenhouse gas emissions in 1990
shall include in their 1990 emissions base year or period the aggregate anthropogenic
carbon dioxide equivalent emissions by sources minus removals by sinks in 1990
from land-use change for the purposes of calculating their assigned amount.

8. Any Party included in Annex I may use 1995 as its base year for hydrofluorocarbons,
perfluorocarbons and sulphur hexafluoride, for the purposes of the calculation
referred to in paragraph 7 above.

9. Commitments for subsequent periods for Parties included in Annex I shall
be established in amendments to Annex B to this Protocol, which shall be adopted
in accordance with the provisions of Article 21, paragraph 7. The Conference of
the Parties serving as the meeting of the Parties to this Protocol shall initiate
the consideration of such commitments at least seven years before the end of the
first commitment period referred to in paragraph 1 above.

10. Any emission reduction units, or any part of an assigned amount, which
a Party acquires from another Party in accordance with the provisions of Article
6 or of Article 17 shall be added to the assigned amount for the acquiring Party.

11. Any emission reduction units, or any part of an assigned amount, which
a Party transfers to another Party in accordance with the provisions of Article
6 or of Article 17 shall be subtracted from the assigned amount for the transferring
Party.

12. Any certified emission reductions which a Party acquires from another Party
in accordance with the provisions of Article 12 shall be added to the assigned
amount for the acquiring Party.

13. If the emissions of a Party included in Annex I in a commitment period
are less than its assigned amount under this Article, this difference shall,
on request of that Party, be added to the assigned amount for that Party for subsequent
commitment periods.

14. Each Party included in Annex I shall strive to implement the commitments
mentioned in paragraph 1 above in such a way as to minimize adverse social, environmental
and economic impacts on developing country Parties, particularly those identified
in Article 4, paragraphs 8 and 9, of the Convention. In line with relevant decisions
of the Conference of the Parties on the implementation of those paragraphs, the
Conference of the Parties serving as the meeting of the Parties to this Protocol
shall, at its first session, consider what actions are necessary to minimize the
adverse effects of climate change and/or the impacts of response measures
on Parties referred to in those paragraphs. Among the issues to be considered
shall be the establishment of funding, insurance and transfer of technology.

1. Any Parties included in Annex I that have reached an agreement to fulfil
their commitments under Article 3 jointly, shall be deemed to have met those commitments
provided that their total combined aggregate anthropogenic carbon dioxide equivalent
emissions of the greenhouse gases listed in Annex A do not exceed their assigned
amounts calculated pursuant to their quantified emission limitation and reduction
commitments inscribed in Annex B and in accordance with the provisions of Article
3. The respective emission level allocated to each of the Parties to the agreement
shall be set out in that agreement.

2. The Parties to any such agreement shall notify the secretariat of the terms
of the agreement on the date of deposit of their instruments of ratification,
acceptance or approval of this Protocol, or accession thereto. The secretariat
shall in turn inform the Parties and signatories to the Convention of the terms
of the agreement.

3. Any such agreement shall remain in operation for the duration of the commitment
period specified in Article 3, paragraph 7.

4. If Parties acting jointly do so in the framework of, and together with,
a regional economic integration organization, any alteration in the composition
of the organization after adoption of this Protocol shall not affect existing
commitments under this Protocol. Any alteration in the composition of the organization
shall only apply for the purposes of those commitments under Article 3 that are
adopted subsequent to that alteration.

5. In the event of failure by the Parties to such an agreement to achieve their
total combined level of emission reductions, each Party to that agreement shall
be responsible for its own level of emissions set out in the agreement.

6. If Parties acting jointly do so in the framework of, and together with,
a regional economic integration organization which is itself a Party to this Protocol,
each member State of that regional economic integration organization individually,
and together with the regional economic integration organization acting in accordance
with Article 24, shall, in the event of failure to achieve the total combined
level of emission reductions, be responsible for its level of emissions as notified
in accordance with this Article.

1. Each Party included in Annex I shall have in place, no later than one year
prior to the start of the first commitment period, a national system for the estimation
of anthropogenic emissions by sources and removals by sinks of all greenhouse
gases not controlled by the Montreal Protocol. Guidelines for such national systems,
which shall incorporate the methodologies specified in paragraph 2 below, shall
be decided upon by the Conference of the Parties serving as the meeting of
the Parties to this Protocol at its first session.

2. Methodologies for estimating anthropogenic emissions by sources and removals
by sinks of all greenhouse gases not controlled by the Montreal Protocol shall
be those accepted by the Intergovernmental Panel on Climate Change and agreed
upon by the Conference of the Parties at its third session. Where such methodologies
are not used, appropriate adjustments shall be applied according to methodologies
agreed upon by the Conference of the Parties serving as the meeting of the Parties
to this Protocol at its first session. Based on the work of, inter alia,
the Intergovernmental Panel on Climate Change and advice provided by the Subsidiary
Body for Scientific and Technological Advice, the Conference of the Parties serving
as the meeting of the Parties to this Protocol shall regularly review and, as
appropriate, revise such methodologies and adjustments, taking fully into
account any relevant decisions by the Conference of the Parties. Any revision
to methodologies or adjustments shall be used only for the purposes of ascertaining
compliance with commitments under Article 3 in respect of any commitment period
adopted subsequent to that revision.

3. The global warming potentials used to calculate the carbon dioxide equivalence
of anthropogenic emissions by sources and removals by sinks of greenhouse gases
listed in Annex A shall be those accepted by the Intergovernmental Panel
on Climate Change and agreed upon by the Conference of the Parties at its third
session. Based on the work of, inter alia, the Intergovernmental Panel
on Climate Change and advice provided by the Subsidiary Body for Scientific and
Technological Advice, the Conference of the Parties serving as the meeting of
the Parties to this Protocol shall regularly review and, as appropriate, revise
the global warming potential of each such greenhouse gas, taking fully into account
any relevant decisions by the Conference of the Parties. Any revision to a global
warming potential shall apply only to commitments under Article 3 in respect of
any commitment period adopted subsequent to that revision.

1. For the purpose of meeting its commitments under Article 3, any Party included
in Annex I may transfer to, or acquire from, any other such Party emission reduction
units resulting from projects aimed at reducing anthropogenic emissions by sources
or enhancing anthropogenic removals by sinks of greenhouse gases in any sector
of the economy, provided that:

(a) Any such project has the approval of the Parties involved;

(b) Any such project provides a reduction in emissions by sources, or an enhancement
of removals by sinks, that is additional to any that would otherwise occur;

(c) It does not acquire any emission reduction units if it is not in compliance
with its obligations under Articles 5 and 7; and

(d) The acquisition of emission reduction units shall be supplemental to domestic
actions for the purposes of meeting commitments under Article 3.

2. The Conference of the Parties serving as the meeting of the Parties to this
Protocol may, at its first session or as soon as practicable thereafter, further
elaborate guidelines for the implementation of this Article, including for verification
and reporting.

3. A Party included in Annex I may authorize legal entities to participate,
under its responsibility, in actions leading to the generation, transfer or acquisition
under this Article of emission reduction units.

4. If a question of implementation by a Party included in Annex I of the requirements
referred to in this Article is identified in accordance with the relevant provisions
of Article 8, transfers and acquisitions of emission reduction units may continue
to be made after the question has been identified, provided that any such
units may not be used by a Party to meet its commitments under Article 3 until
any issue of compliance is resolved.

1. Each Party included in Annex I shall incorporate in its annual inventory
of anthropogenic emissions by sources and removals by sinks of greenhouse gases
not controlled by the Montreal Protocol, submitted in accordance with the
relevant decisions of the Conference of the Parties, the necessary supplementary
information for the purposes of ensuring compliance with Article 3, to be determined
in accordance with paragraph 4 below.

2. Each Party included in Annex I shall incorporate in its national communication,
submitted under Article 12 of the Convention, the supplementary information necessary
to demonstrate compliance with its commitments under this Protocol, to be determined
in accordance with paragraph 4 below.

3. Each Party included in Annex I shall submit the information required under
paragraph 1 above annually, beginning with the first inventory due under the Convention
for the first year of the commitment period after this Protocol has entered into
force for that Party. Each such Party shall submit the information required
under paragraph 2 above as part of the first national communication due under
the Convention after this Protocol has entered into force for it and after the
adoption of guidelines as provided for in paragraph 4 below. The frequency
of subsequent submission of information required under this Article shall be determined
by the Conference of the Parties serving as the meeting of the Parties to this
Protocol, taking into account any timetable for the submission of national communications
decided upon by the Conference of the Parties.

4. The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall adopt at its first session, and review periodically thereafter,
guidelines for the preparation of the information required under this Article,
taking into account guidelines for the preparation of national communications
by Parties included in Annex I adopted by the Conference of the Parties. The Conference
of the Parties serving as the meeting of the Parties to this Protocol shall also,
prior to the first commitment period, decide upon modalities for the accounting
of assigned amounts.

1. The information submitted under Article 7 by each Party included in Annex
I shall be reviewed by expert review teams pursuant to the relevant decisions
of the Conference of the Parties and in accordance with guidelines adopted for
this purpose by the Conference of the Parties serving as the meeting of the Parties
to this Protocol under paragraph 4 below. The information submitted under Article
7, paragraph 1, by each Party included in Annex I shall be reviewed as part
of the annual compilation and accounting of emissions inventories and assigned
amounts. Additionally, the information submitted under Article 7, paragraph 2,
by each Party included in Annex I shall be reviewed as part of the review of communications.

2. Expert review teams shall be coordinated by the secretariat and shall be
composed of experts selected from those nominated by Parties to the Convention
and, as appropriate, by intergovernmental organizations, in accordance with guidance
provided for this purpose by the Conference of the Parties.

3. The review process shall provide a thorough and comprehensive technical
assessment of all aspects of the implementation by a Party of this Protocol. The
expert review teams shall prepare a report to the Conference of the Parties
serving as the meeting of the Parties to this Protocol, assessing
the implementation of the commitments of the Party and identifying any potential
problems in, and factors influencing, the fulfilment of commitments. Such reports
shall be circulated by the secretariat to all Parties to the Convention. The secretariat
shall list those questions of implementation indicated in such reports for further
consideration by the Conference of the Parties serving as the meeting of the Parties
to this Protocol.

4. The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall adopt at its first session, and review periodically thereafter,
guidelines for the review of implementation of this Protocol by expert review
teams taking into account the relevant decisions of the Conference of the Parties.

5. The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall, with the assistance of the Subsidiary Body for Implementation
and, as appropriate, the Subsidiary Body for Scientific and Technological Advice,
consider:

(a) The information submitted by Parties under Article 7 and the reports of
the expert reviews thereon conducted under this Article; and

(b) Those questions of implementation listed by the secretariat under paragraph
3 above, as well as any questions raised by Parties.

6. Pursuant to its consideration of the information referred to in paragraph
5 above, the Conference of the Parties serving as the meeting of the Parties to
this Protocol shall take decisions on any matter required for the implementation
of this Protocol.

1. The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall periodically review this Protocol in the light of the best available
scientific information and assessments on climate change and its impacts, as well
as relevant technical, social and economic information. Such reviews shall be
coordinated with pertinent reviews under the Convention, in particular those required
by Article 4, paragraph 2(d), and Article 7, paragraph 2(a), of the Convention.
Based on these reviews, the Conference of the Parties serving as the meeting of
the Parties to this Protocol shall take appropriate action.

2. The first review shall take place at the second session of the Conference
of the Parties serving as the meeting of the Parties to this Protocol. Further
reviews shall take place at regular intervals and in a timely manner.

All Parties, taking into account their common but differentiated responsibilities
and their specific national and regional development priorities, objectives and
circumstances, without introducing any new commitments for Parties not included
in Annex I, but reaffirming existing commitments under Article 4, paragraph
1, of the Convention, and continuing to advance the implementation of these commitments
in order to achieve sustainable development, taking into account Article 4, paragraphs
3, 5 and 7, of the Convention, shall:

(a) Formulate, where relevant and to the extent possible, cost-effective national
and, where appropriate, regional programmes to improve the quality of local emission
factors, activity data and/or models which reflect the socio-economic conditions
of each Party for the preparation and periodic updating of national inventories
of anthropogenic emissions by sources and removals by sinks of all greenhouse
gases not controlled by the Montreal Protocol, using comparable methodologies
to be agreed upon by the Conference of the Parties, and consistent with the
guidelines for the preparation of national communications adopted by the Conference
of the Parties;

(b) Formulate, implement, publish and regularly update national and, where
appropriate, regional programmes containing measures to mitigate climate change
and measures to facilitate adequate adaptation to climate change:

(i) Such programmes would, inter alia, concern the energy,
transport and industry sectors as well as agriculture, forestry and waste management.
Furthermore, adaptation technologies and methods for improving spatial planning
would improve adaptation to climate change; and

(ii) Parties included in Annex I shall submit information on action under this
Protocol, including national programmes, in accordance with Article 7; and other
Parties shall seek to include in their national communications, as appropriate,
information on programmes which contain measures that the Party believes contribute
to addressing climate change and its adverse impacts, including the abatement
of increases in greenhouse gas emissions, and enhancement of and removals by sinks,
capacity building and adaptation measures;

(c) Cooperate in the promotion of effective modalities for the development,
application and diffusion of, and take all practicable steps to promote, facilitate
and finance, as appropriate, the transfer of, or access to, environmentally
sound technologies, know-how, practices and processes pertinent to climate change,
in particular to developing countries, including the formulation of policies and
programmes for the effective transfer of environmentally sound technologies that
are publicly owned or in the public domain and the creation of an enabling environment
for the private sector, to promote and enhance the transfer of, and access
to, environmentally sound technologies;

(d) Cooperate in scientific and technical research and promote the maintenance
and the development of systematic observation systems and development of
data archives to reduce uncertainties related to the climate system, the adverse
impacts of climate change and the economic and social consequences of various
response strategies, and promote the development and strengthening of endogenous
capacities and capabilities to participate in international and intergovernmental
efforts, programmes and networks on research and systematic observation, taking
into account Article 5 of the Convention;

(e) Cooperate in and promote at the international level, and, where appropriate,
using existing bodies, the development and implementation of education and training
programmes, including the strengthening of national capacity building, in particular
human and institutional capacities and the exchange or secondment of personnel
to train experts in this field, in particular for developing countries, and facilitate
at the national level public awareness of, and public access to information on,
climate change. Suitable modalities should be developed to implement these
activities through the relevant bodies of the Convention, taking into account
Article 6 of the Convention;

(f) Include in their national communications information on programmes and
activities undertaken pursuant to this Article in accordance with relevant decisions
of the Conference of the Parties; and

(g) Give full consideration, in implementing the commitments under this Article,
to Article 4, paragraph 8, of the Convention.

1. In the implementation of Article 10, Parties shall take into
account the provisions of Article 4, paragraphs 4, 5, 7, 8 and 9, of the Convention.

2. In the context of the implementation of Article 4, paragraph 1, of the Convention,
in accordance with the provisions of Article 4, paragraph 3, and Article 11 of
the Convention, and through the entity or entities entrusted with the operation
of the financial mechanism of the Convention, the developed country Parties and
other developed Parties included in Annex II to the Convention shall:

(a) Provide new and additional financial resources to meet the agreed full
costs incurred by developing country Parties in advancing the implementation of
existing commitments under Article 4, paragraph 1(a), of the Convention that are
covered in Article 10, subparagraph (a); and

(b) Also provide such financial resources, including for the transfer of technology,
needed by the developing country Parties to meet the agreed full incremental costs
of advancing the implementation of existing commitments under Article 4, paragraph
1, of the Convention that are covered by Article 10 and that are agreed between
a developing country Party and the international entity or entities referred to
in Article 11 of the Convention, in accordance with that Article.

The implementation of these existing commitments shall take into account the
need for adequacy and predictability in the flow of funds and the importance of
appropriate burden sharing among developed country Parties. The guidance to the
entity or entities entrusted with the operation of the financial mechanism
of the Convention in relevant decisions of the Conference of the Parties, including
those agreed before the adoption of this Protocol, shall apply mutatis mutandis
to the provisions of this paragraph.

3. The developed country Parties and other developed Parties in Annex II to
the Convention may also provide, and developing country Parties avail themselves
of, financial resources for the implementation of Article 10, through bilateral,
regional and other multilateral channels.

1. A clean development mechanism is hereby defined.

2. The purpose of the clean development mechanism shall be to assist Parties
not included in Annex I in achieving sustainable development and in contributing
to the ultimate objective of the Convention, and to assist Parties included in
Annex I in achieving compliance with their quantified emission limitation
and reduction commitments under Article 3.

3. Under the clean development mechanism:

(a) Parties not included in Annex I will benefit from project activities resulting
in certified emission reductions; and

(b) Parties included in Annex I may use the certified emission reductions accruing
from such project activities to contribute to compliance with part of their quantified
emission limitation and reduction commitments under Article 3, as determined by
the Conference of the Parties serving as the meeting of the Parties to this
Protocol.

4. The clean development mechanism shall be subject to the authority and guidance
of the Conference of the Parties serving as the meeting of the Parties to
this Protocol and be supervised by an executive board of the clean development
mechanism.

5. Emission reductions resulting from each project activity shall be certified
by operational entities to be designated by the Conference of the Parties serving
as the meeting of the Parties to this Protocol, on the basis of:

(a) Voluntary participation approved by each Party involved;

(b) Real, measurable, and long-term benefits related to the mitigation of climate
change; and

(c) Reductions in emissions that are additional to any that would occur in
the absence of the certified project activity.

6. The clean development mechanism shall assist in arranging funding of certified
project activities as necessary.

7. The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall, at its first session, elaborate modalities and procedures with
the objective of ensuring transparency, efficiency and accountability through
independent auditing and verification of project activities.

8. The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall ensure that a share of the proceeds from certified project activities
is used to cover administrative expenses as well as to assist developing country
Parties that are particularly vulnerable to the adverse effects of climate change
to meet the costs of adaptation.

9. Participation under the clean development mechanism, including in activities
mentioned in paragraph 3(a) above and in the acquisition of certified emission
reductions, may involve private and/or public entities, and is to be subject
to whatever guidance may be provided by the executive board of the clean development
mechanism.

10. Certified emission reductions obtained during the period from the year
2000 up to the beginning of the first commitment period can be used to assist
in achieving compliance in the first commitment period.

1. The Conference of the Parties, the supreme body of the Convention, shall
serve as the meeting of the Parties to this Protocol.

2. Parties to the Convention that are not Parties to this Protocol may participate
as observers in the proceedings of any session of the Conference of the Parties
serving as the meeting of the Parties to this Protocol. When the Conference of
the Parties serves as the meeting of the Parties to this Protocol, decisions under
this Protocol shall be taken only by those that are Parties to this Protocol.

3. When the Conference of the Parties serves as the meeting of the Parties
to this Protocol, any member of the Bureau of the Conference of the Parties representing
a Party to the Convention but, at that time, not a Party to this Protocol, shall
be replaced by an additional member to be elected by and from amongst the
Parties to this Protocol.

4. The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall keep under regular review the implementation of this Protocol and
shall make, within its mandate, the decisions necessary to promote its effective
implementation. It shall perform the functions assigned to it by this Protocol
and shall:

(a) Assess, on the basis of all information made available to it in accordance
with the provisions of this Protocol, the implementation of this Protocol by the
Parties, the overall effects of the measures taken pursuant to this Protocol,
in particular environmental, economic and social effects as well as their cumulative
impacts and the extent to which progress towards the objective of the Convention
is being achieved;

(b) Periodically examine the obligations of the Parties under this Protocol,
giving due consideration to any reviews required by Article 4, paragraph 2(d),
and Article 7, paragraph 2, of the Convention, in the light of the objective of
the Convention, the experience gained in its implementation and the evolution
of scientific and technological knowledge, and in this respect consider and adopt
regular reports on the implementation of this Protocol;

(c) Promote and facilitate the exchange of information on measures adopted
by the Parties to address climate change and its effects, taking into account
the differing circumstances, responsibilities and capabilities of the Parties
and their respective commitments under this Protocol;

(d) Facilitate, at the request of two or more Parties, the coordination of
measures adopted by them to address climate change and its effects, taking into
account the differing circumstances, responsibilities and capabilities of the
Parties and their respective commitments under this Protocol;

(e) Promote and guide, in accordance with the objective of the Convention and
the provisions of this Protocol, and taking fully into account the relevant decisions
by the Conference of the Parties, the development and periodic refinement of comparable
methodologies for the effective implementation of this Protocol, to be agreed
on by the Conference of the Parties serving as the meeting of the Parties to this
Protocol;

(f) Make recommendations on any matters necessary for the implementation of
this Protocol;

(g) Seek to mobilize additional financial resources in accordance with

Article 11, paragraph 2;

(h) Establish such subsidiary bodies as are deemed necessary for the implementation
of this Protocol;

(i) Seek and utilize, where appropriate, the services and cooperation of, and
information provided by, competent international organizations and intergovernmental
and non-governmental bodies; and

(j) Exercise such other functions as may be required for the implementation
of this Protocol, and consider any assignment resulting from a decision by
the Conference of the Parties.

5. The rules of procedure of the Conference of the Parties and financial procedures
applied under the Convention shall be applied mutatis mutandis under
this Protocol, except as may be otherwise decided by consensus by the Conference
of the Parties serving as the meeting of the Parties to this Protocol.

6. The first session of the Conference of the Parties serving as the meeting
of the Parties to this Protocol shall be convened by the secretariat in conjunction
with the first session of the Conference of the Parties that is scheduled after
the date of the entry into force of this Protocol. Subsequent ordinary sessions
of the Conference of the Parties serving as the meeting of the Parties to this
Protocol shall be held every year and in conjunction with ordinary sessions of
the Conference of the Parties, unless otherwise decided by the Conference of
the Parties serving as the meeting of the Parties to this Protocol.

7. Extraordinary sessions of the Conference of the Parties serving as the meeting
of the Parties to this Protocol shall be held at such other times as may be deemed
necessary by the Conference of the Parties serving as the meeting of the Parties
to this Protocol, or at the written request of any Party, provided that, within
six months of the request being communicated to the Parties by the secretariat,
it is supported by at least one third of the Parties.

8. The United Nations, its specialized agencies and the International Atomic
Energy

Agency, as well as any State member thereof or observers thereto not party
to the Convention, may be represented at sessions of the Conference of the Parties
serving as the meeting of the Parties to this Protocol as observers. Any body
or agency, whether national or international, governmental or non-governmental,
which is qualified in matters covered by this Protocol and which has informed
the secretariat of its wish to be represented at a session of the Conference of
the Parties serving as the meeting of the Parties to this Protocol as an observer,
may be so admitted unless at least one third of the Parties present object. The
admission and participation of observers shall be subject to the rules of procedure,
as referred to in paragraph 5 above.

1. The secretariat established by Article 8 of the Convention shall serve as
the secretariat of this Protocol.

2. Article 8, paragraph 2, of the Convention on the functions of the secretariat,
and

Article 8, paragraph 3, of the Convention on arrangements made for the functioning
of the secretariat, shall apply mutatis mutandis to this Protocol. The
secretariat shall, in addition, exercise the functions assigned to it under this
Protocol.

1. The Subsidiary Body for Scientific and Technological Advice and the Subsidiary
Body for Implementation established by Articles 9 and 10 of the Convention
shall serve as, respectively, the Subsidiary Body for Scientific and Technological
Advice and the Subsidiary Body for Implementation of this Protocol. The provisions
relating to the functioning of these two bodies under the Convention shall apply
mutatis mutandis to this Protocol. Sessions of the meetings of the Subsidiary
Body for Scientific and Technological Advice and the Subsidiary Body for Implementation
of this Protocol shall be held in conjunction with the meetings of, respectively,
the Subsidiary Body for Scientific and Technological Advice and the Subsidiary
Body for Implementation of the Convention.

2. Parties to the Convention that are not Parties to this Protocol may participate
as observers in the proceedings of any session of the subsidiary bodies. When
the subsidiary bodies serve as the subsidiary bodies of this Protocol, decisions
under this Protocol shall be taken only by those that are Parties to this Protocol.

3. When the subsidiary bodies established by Articles 9 and 10 of the Convention
exercise their functions with regard to matters concerning this Protocol,
any member of the Bureaux of those subsidiary bodies representing a Party to the
Convention but, at that time, not a party to this Protocol, shall be replaced
by an additional member to be elected by and from amongst the Parties to this
Protocol.

The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall, as soon as practicable, consider the application to this Protocol
of, and modify as appropriate, the multilateral consultative process referred
to in Article 13 of the Convention, in the light of any relevant decisions
that may be taken by the Conference of the Parties. Any multilateral consultative
process that may be applied to this Protocol shall operate without prejudice to
the procedures and mechanisms established in accordance with Article 18.

The Conference of the Parties shall define the relevant principles, modalities,
rules and guidelines, in particular for verification, reporting and accountability
for emissions trading. The Parties included in Annex B may participate in
emissions trading for the purposes of fulfilling their commitments under
Article 3. Any such trading shall be supplemental to domestic actions for the
purpose of meeting quantified emission limitation and reduction commitments
under that Article.

The Conference of the Parties serving as the meeting of the Parties to this
Protocol shall, at its first session, approve appropriate and effective procedures
and mechanisms to determine and to address cases of non-compliance with the provisions
of this Protocol, including through the development of an indicative list of consequences,
taking into account the cause, type, degree and frequency of non-compliance. Any
procedures and mechanisms under this Article entailing binding consequences shall
be adopted by means of an amendment to this Protocol.

The provisions of Article 14 of the Convention on settlement of disputes shall
apply mutatis mutandis to this Protocol.

1. Any Party may propose amendments to this Protocol.

2. Amendments to this Protocol shall be adopted at an ordinary session of the
Conference of the Parties serving as the meeting of the Parties to this Protocol.
The text of any proposed amendment to this Protocol shall be communicated to the
Parties by the secretariat at least six months before the meeting at which it
is proposed for adoption. The secretariat shall also communicate the text of any
proposed amendments to the Parties and signatories to the Convention and, for
information, to the Depositary.

3. The Parties shall make every effort to reach agreement on any proposed amendment
to this Protocol by consensus. If all efforts at consensus have been exhausted,
and no agreement reached, the amendment shall as a last resort be adopted by a
three-fourths majority vote of the Parties present and voting at the meeting.
The adopted amendment shall be communicated by the secretariat to the Depositary,
who shall circulate it to all Parties for their acceptance.

4. Instruments of acceptance in respect of an amendment shall be deposited
with the Depositary. An amendment adopted in accordance with paragraph 3 above
shall enter into force for those Parties having accepted it on the ninetieth day
after the date of receipt by the Depositary of an instrument of acceptance by
at least three fourths of the Parties to this Protocol.

5. The amendment shall enter into force for any other Party on the ninetieth
day after the date on which that Party deposits with the Depositary its instrument
of acceptance of the said amendment.

1. Annexes to this Protocol shall form an integral part thereof
and, unless otherwise expressly provided, a reference to this Protocol constitutes
at the same time a reference to any annexes thereto. Any annexes adopted after
the entry into force of this Protocol shall be restricted to lists, forms and
any other material of a descriptive nature that is of a scientific, technical,
procedural or administrative character.

2. Any Party may make proposals for an annex to this Protocol and may propose
amendments to annexes to this Protocol.

3. Annexes to this Protocol and amendments to annexes to this Protocol shall
be adopted at an ordinary session of the Conference of the Parties serving as
the meeting of the Parties to this Protocol. The text of any proposed annex or
amendment to an annex shall be communicated to the Parties by the secretariat
at least six months before the meeting at which it is proposed for adoption. The
secretariat shall also communicate the text of any proposed annex or amendment
to an annex to the Parties and signatories to the Convention and, for information,
to the Depositary.

4. The Parties shall make every effort to reach agreement on any proposed annex
or amendment to an annex by consensus. If all efforts at consensus have been exhausted,
and no agreement reached, the annex or amendment to an annex shall as a last resort
be adopted by a three-fourths majority vote of the Parties present and voting
at the meeting. The adopted annex or amendment to an annex shall be communicated
by the secretariat to the Depositary, who shall circulate it to all Parties for
their acceptance.

5. An annex, or amendment to an annex other than Annex A or B, that has been
adopted in accordance with paragraphs 3 and 4 above shall enter into force for
all Parties to this Protocol six months after the date of the communication by
the Depositary to such Parties of the adoption of the annex or adoption of the
amendment to the annex, except for those Parties that have notified the Depositary,
in writing, within that period of their non-acceptance of the annex or amendment
to the annex. The annex or amendment to an annex shall enter into force for Parties
which withdraw their notification of non-acceptance on the ninetieth day after
the date on which withdrawal of such notification has been received by the Depositary.

6. If the adoption of an annex or an amendment to an annex involves an amendment
to this Protocol, that annex or amendment to an annex shall not enter into force
until such time as the amendment to this Protocol enters into force.

7. Amendments to Annexes A and B to this Protocol shall be adopted and enter
into force in accordance with the procedure set out in Article 20, provided
that any amendment to Annex B shall be adopted only with the written consent of
the Party concerned.

1. Each Party shall have one vote, except as provided for in paragraph 2 below.

2. Regional economic integration organizations, in matters within their competence,
shall exercise their right to vote with a number of votes equal to the number
of their member States that are Parties to this Protocol. Such an organization
shall not exercise its right to vote if any of its member States exercises its
right, and vice versa.

The Secretary-General of the United Nations shall be the Depositary of this
Protocol.

1. This Protocol shall be open for signature and subject to ratification, acceptance
or approval by States and regional economic integration organizations which are
Parties to the Convention. It shall be open for signature at United Nations Headquarters
in New York from

16 March 1998 to 15 March 1999. This Protocol shall be open for accession from
the day after the date on which it is closed for signature. Instruments of ratification,
acceptance, approval or accession shall be deposited with the Depositary.

2. Any regional economic integration organization which becomes a Party to
this Protocol without any of its member States being a Party shall be bound by
all the obligations under this Protocol. In the case of such organizations, one
or more of whose member States is a Party to this Protocol, the organization and
its member States shall decide on their respective responsibilities for the
performance of their obligations under this Protocol. In such cases, the
organization and the member States shall not be entitled to exercise rights under
this Protocol concurrently.

3. In their instruments of ratification, acceptance, approval or accession,
regional economic integration organizations shall declare the extent of their
competence with respect to the matters governed by this Protocol. These organizations
shall also inform the Depositary, who shall in turn inform the Parties, of any
substantial modification in the extent of their competence.

1. This Protocol shall enter into force on the ninetieth day after the date
on which not less than 55 Parties to the Convention, incorporating Parties
included in Annex I which accounted in total for at least 55 per cent of the total
carbon dioxide emissions for 1990 of the Parties included in Annex I, have deposited
their instruments of ratification, acceptance, approval or accession.

2. For the purposes of this Article, "the total carbon dioxide emissions for
1990 of the Parties included in Annex I" means the amount communicated on or before
the date of adoption of this Protocol by the Parties included in Annex I in their
first national communications submitted in accordance with Article 12 of the Convention.

3. For each State or regional economic integration organization that ratifies,
accepts or

approves this Protocol or accedes thereto after the conditions set out in paragraph
1 above for entry into force have been fulfilled, this Protocol shall enter
into force on the ninetieth day following the date of deposit of its instrument
of ratification, acceptance, approval or accession.

4. For the purposes of this Article, any instrument deposited by a regional
economic integration organization shall not be counted as additional to those
deposited by States members of the organization.

No reservations may be made to this Protocol.

1. At any time after three years from the date on which this Protocol has entered
into force for a Party, that Party may withdraw from this Protocol by giving written
notification to the Depositary.

2. Any such withdrawal shall take effect upon expiry of one year from the date
of receipt by the Depositary of the notification of withdrawal, or on such later
date as may be specified in the notification of withdrawal.

3. Any Party that withdraws from the Convention shall be considered as also
having withdrawn from this Protocol.

The original of this Protocol, of which the Arabic, Chinese, English, French,
Russian and Spanish texts are equally authentic, shall be deposited with the Secretary-General
of the United Nations.

DONE at Kyoto this eleventh day of December one thousand nine
hundred and ninety-seven.

IN WITNESS WHEREOF the undersigned, being duly authorized
to that effect, have affixed their signatures to this Protocol on the dates indicated.

Greenhouse gases

Carbon dioxide (CO₂)

Metha