To meet their obligation under the Kyoto Protocol, member countries of the European Union (EU) in 2005 devised

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The member countries of the European Union (EU) in 2005 devised a GHG (Greenhouse gas) trading program to meet their obligation under the Kyoto Protocol. This program aims to reduce the overall emissions of the greenhouse gases by setting a cap on its total emissions and allocating allowances to the member countries, which can either reduce their emissions below the cap or trade their excess allowances to those countries that are unable to meet their target.

To Meet Their Obligation Under the Kyoto Protocol, Member Countries