1. The Kyoto Protocol

2. UNFCC Adopted in Rio 1992 Adopted in Rio 1992 Voluntary target of stabilizing emissions at 1990 levels by 2000 Voluntary target of stabilizing emissions at 1990 levels by 2000 National communications from Parties National communications from Parties Common but differentiated responsibilities Common but differentiated responsibilities COPs COPs

3. The Kyoto Protocol Annex I parties Annex I parties Reduction by 5% of 1990 levels by 2008-2012Reduction by 5% of 1990 levels by 2008-2012 Differentiated targets: why? Differentiated targets: why? Hot Air Hot Air EU bubble EU bubble Condition for entry into force: Condition for entry into force: 55 + 5555 + 55 Flexible mechanisms Flexible mechanisms Tradable PermitsTradable Permits Joint ImplementationJoint Implementation Clean Development MechanismClean Development Mechanism

5. COPs at Hague and Bonn Definition of rules for JI and CDM Definition of rules for JI and CDM Scope of emissions trading Scope of emissions trading Reporting of emissions data condition for participation in CDM Reporting of emissions data condition for participation in CDM Sinks included Sinks included Enforcement mechanism Enforcement mechanism

6. Hot Air Countries with 1998 emissions lower than Kyoto target emissions, because of peculiar base year Countries with 1998 emissions lower than Kyoto target emissions, because of peculiar base year Positive difference between target emissions and 1998 emissions. Positive difference between target emissions and 1998 emissions. RussiaRussia Base year emissions:818 MtC Base year emissions:818 MtC 1998 emissions:525 MtC 1998 emissions:525 MtC Kyoto target reduction: 0%, e.g. 818 MtC Kyoto target reduction: 0%, e.g. 818 MtC Hot air: 293 MtC Hot air: 293 MtC

7. Joint Implementation Paldiski Wind Farm Paldiski Wind Farm EstoniaEstonia Supplier: OÜ Paldiski Tuulepark, owned by AS Tuulepargid, DenmarkSupplier: OÜ Paldiski Tuulepark, owned by AS Tuulepargid, Denmark Installation of 22 turbines, part of Balti Power PlantInstallation of 22 turbines, part of Balti Power Plant Validator: KPMG CertificationValidator: KPMG Certification Estimated reduction: 1,244, 833 ton CO2e in the period 2006-2012Estimated reduction: 1,244, 833 ton CO2e in the period 2006-2012 Reduction of greenhouse gases by gasification Reduction of greenhouse gases by gasification Bulgaria Supplier: Overgas Switch from lignite/oil to gas in 3 cities Validator: KPMG Estimated reduction: 484,356 tons of CO2e will be reduced in the period 2008-2012 http://www.senter.nl/

8. CDM CDM Executive Board (CDM EB) at UNFCC and Designated National Authorities (DNA) CDM Executive Board (CDM EB) at UNFCC and Designated National Authorities (DNA) Inner Mongolia Huitengxile Wind Farm, China Inner Mongolia Huitengxile Wind Farm, China Supplier: Inner Mongolia Wind Power CorporationSupplier: Inner Mongolia Wind Power Corporation 25.8 MW of capacity to be installed in 2004.25.8 MW of capacity to be installed in 2004. Validator: Tüv SüdValidator: Tüv Süd Emission reduction: 513,914 ton CO2e in the period 2004-213Emission reduction: 513,914 ton CO2e in the period 2004-213