The definitions are set forth in Article 1 of the 1992 Framework on Climate Change, and the Kyoto Protocol, shall apply with respect to this Protocol.
- The Parties shall act consistently with the obligations stated in this Protocol with the aim of holding the increase in global temperature below [1.5 , 2.0, 3.0, 4.0] degrees Celsius, and shall take action to meet this objective consistent with science on the basis or equity.
- The Parties shall cooperate in peaking of global emissions as soon as possible, recognizing that the time frame for peaking will be longer in developing countries.
- The Parties shall seek to ensure that total atmospheric concentrations of GHGs shall be stabilized at [450 , 550, 650, 850] ppm CO2 equivalent by 2100. The COP, acting on the recommendations of the Subsidiary Body for Scientific and Technological Advice, can alter this stabilization target at any time by a vote of ⅔ of the Annex I Parties and ⅔ of the non-Annex Parties to the Protocol.
Emission Reduction Obligations of Annex I Parties
- Annex I Parties shall undertake, individually or jointly, legally-binding nationally appropriate mitigation commitments or actions, including quantifying economy-wide emissions reduction objective (while ensuring comparability of efforts and on the basis on cumulative historical responsibility, as a part of the emission debt) with a view to reducing the individual greenhouse gas emissions of each developed country for trajectory of achieving a [1.5, 2, 3, 4] degrees Celsius scenario.
- That 3 degrees Celsius scenario will be the minimum ambition [Amended to 2.75 legally binding and decreasing to 1.5 C by 1/10th C every year]
- Emissions reductions by Annex I Parties will be measured, reported and verified in accordance with existing and any further guidelines adopted by the Conference of Parties, and will ensure that accounting for reductions is rigorous, robust and transparent.
Emission Reduction Obligations of Non-Annex I Parties
- Non-Annex I Parties, in the context of sustainable development, shall undertake nationally appropriate mitigation actions, enabled and supported by finance, technology and capacity-building, and may undertake autonomous mitigation actions, together aimed at achieving a substantial deviation in emissions (in the order of 15-30 percent by 2030) relative to those emissions that would occur in the absence of enhanced mitigation, (recognizing the extent of enhanced mitigation by these countries depends on the level of available support).
- Non-Annex I Parties shall report the nationally appropriate mitigation actions they intend to take to the secretariat in a format to be developed by the COP.
- Nationally appropriate mitigation actions of Non-Annex I Parties shall be subject to measurement and verification domestically in accordance with guidelines to be developed by the COP.
- For any Non-Annex I Parties with a gross domestic product in excess of [5000, 8000, 10000] US dollars, and emissions that exceed 2% of global emissions, nationally appropriate mitigation actions must include actions aimed at stabilizing that Party’s emissions within five years and significantly reducing those emissions by 2100.
The Multilateral Fund on Climate Change
- Developed country Parties included in Annex II shall provide new, additional and predictable financial resources to support enhanced action on mitigation and adaptation in all developing countries.
- A Multilateral Fund on Climate Change is hereby established. The Fund shall be governed by an Executive Board, elected by the Conference of the Parties and containing three members from each United Nations regional grouping, two additional members representing the small island developing states, and two additional members from the Least Developed Countries.
- The Annex II Parties shall contribute $10 billion per year immediately to the Fund, with that amount rising to $100 billion per year by 2030 and $500 billion per year by 2050.
- Each Annex II Party will be assessed a contribution based on [GDP, the polluter pays principle, current emission levels, historical responsibility, climate debt] amounting to [0.5, 1, 1.5, 2] percent of GDP [at the time of signing the treaty].
- Distributions from the Fund shall be made by decision of the Executive Board. Distributions may be used to support projects related to mitigation, adaptation, REDD, Capacity-Building and Technology, but priority shall be given to funding for adaptation.
In the event that the COP, acting pursuant to Article 2.3, alters the stabilization target stated in this Protocol, a majority of at least two thirds of the Parties to this Protocol can amend Articles 3 and 4 of this Protocol to ensure that the new stabilization targets are met.
Entry Into Force
This Protocol shall enter into force for the signatory Parties on the seventieth day of February, with the acceptance of 8 of the 10 countries present.
Palmer, Sir Geoffrey W.R., and Burns H. Weston. “Chapter 7: Confronting Climate Change.” International Environmental Law and World Order: A Problem-Oriented Coursebook, by Jonathan C. Carlson. Third ed. Westing Publishing Company, 2012. pp. 613-615.