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KYOTO PROTOCOL
The Treaty contains an obligation on the part of industrialized countries to ensure a reduction in emissions of pollutants to an extent not less than 5% compared to the emissions recorded in 1990 - considered as the base year - in 2008-2012 The Kyoto Protocol requires the use of market mechanisms, the so-called flexible mechanisms; the principal mechanism is the Clean Development Mechanism. The aim of the Flexible Mechanisms is to reduce emissions at the lowest cost possible, in other words, to maximize emissions reductions for the same investment. Because the treaty could enter into force, requiring it to be ratified by no less than 55 signatory nations and nations that have ratified it produces at least 55% of emissions, the latter condition was achieved only in November 2004 when even Russia has improved its membership.