Carbon Credits Under Kyoto Protocol Actually Increased Emissions

At the end of November, governments will come together in Paris to hammer out agreements for a successor to the Kyoto Protocol. Under the KP, there are two greenhouse gas (GHG) emissions offsetting mechanisms: joint implementation (JI) and the Clean Development Mechanism (CDM).JI allows countries with emissions-reduction commitments under the Kyoto Protocol to generate Emission Reduction Units (ERUs) from GHG reduction projects and transfer them to other countries. Almost 872 million ERUs had been issued under JI as of March 2015, about a third of all Kyoto offset credits. In a nutshell, JIs are carbon credits and include things like reforestation projects.