Is economy more powerful than ecology?
The Kyoto Protocol creates a global trading system for emissions of “greenhouse gasses�? such as carbon dioxide, an effort to unite 160 nations to combat climate change.
Nations that sign the treaty agree to reduce their emissions to reach targets 5.2 percent lower than 1990 levels.
The protocol’s mechanisms are designed to generate incentives around buying, selling and trading emissions credits essentially designing value into countries that do not pollute.
This will create a market that could reach US$60 billion in annual volume by 2008.
