The Kyoto protocol mechanisms - international emission trading clean development mechanism joint implementation

The central feature of the Kyoto protocol is its requirement that countries limit or reduce their greenhouse gas emissions. By setting such targets, emission reductions took on economic value.
To help countries meet their emission targets, and to encourage the private sector and developing countries to contribute to emission reduction efforts, negotiators of the protocol included three market-based mechanisms - emissions trading, the clean development mechanism and joint implementation.