Kyoto protocol: - The International Environmental Agreement as Collective Action

It is all about Emission-reduction targets of greenhouse gases (GHG) for each of the member countries and a greenhouse gas emission-trading program. The Kyoto Protocol, agreed in December 1997, set out an approach for binding international action and agreed specific commitments up to 2012
Kyoto Protocol agreement says that industrialized countries will reduce their collective emissions of GHG by 5.2% compared to the year 1990. The goal is to lower overall emissions of six GHG- carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, HFCs, and PFCs. If an Industrialized country is not in compliance with its emissions targets, then that country is required to make up the difference plus an additional 30 percent. In addition, that country will be suspended from making transfers under an emissions trading program. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .
Need for this agreement in the international community:-
Climate change is one of the most important issues facing the international community and Concentrations of greenhouse gases have increased markedly during the past century which had significant effects on the climate. Coming of likeminded countries forward to protect environment was in accordance with convergence theory.
Main feature of the Protocol:-
1. Emission Quotas for each member countries.
2. The principles of Emissions trading and Joint implementation by member countries.
3. Clean Development Mechanism for long term sustainability of environment.
Understanding international Collective Action to implement Kyoto protocol
Emissions of GHGs from any one country have the same effect on the atmosphere as those from any other. It also recognizes that without their involvement, international collective action may fail. Co-operation requires that nations perceive sufficient benefits that they are willing to participate in international treaties or other arrangements. USA was one of the first nations to sign and ratify treaty. Canada has set target to reduce emissions to 6%.
Why collective action of this sort?
Climate change is a Global Public Good which require stronger and more coordinated action and Co-operative action reduces costs of mitigation and adaptation. In this scenario International joint efforts are more effective as standalone efforts by any single country will not bear fruit.