The accounting period known as the “true-up period” of the first commitment period of the Kyoto Protocol ended on 18 November. Developed country Parties (Annex I) with quantified emission limitation and reduction targets under the Kyoto Protocol had until then to mitigate and adjust any gaps in their greenhouse gas emissions targets. They could acquire or transfer emission reduction units, certified emission reductions, assigned amount units and removal units valid for the first commitment period.
At the request of the Parties, the secretariatof the UN Framework Convention on Climate Change published the following information on 30 September 2015, and then updated on 28 October and 25 November:
- Inventory data for each year of the commitment period;
- Total emissions over the commitment period;
- Total quantity of units held in Party holding accounts, cancellation accounts, and the retirement account.
In addition, information on the total quantity of aggregated holdings in the clean development mechanism (CDM) registry were also made available.
The UNFCCC secretariat published the last report here and will now coordinate a comprehensive review and compliance assessment. Final reports will be published for each Party concerned around May 2016.
The Kyoto Protocol, adopted in 1997 and coming into force in 2005 as the world’s first emissions reduction treaty, includes quantified emission limitation and reduction targets for 37 industrialized countries and the European Community.
The first commitment period covers reporting from these countries on their GHG emissions and removals for the years 2008-2012.