SUSTAINABILITY
In 1987, The World Commission on Environment and Development (The Brundtland Commission), exposed the concept of sustainable development and promoted it to center-stage in global politics. In the report, "Our Common Future", the Commission framed the "growth versus environment debate" and defined sustainable development as:
"meeting the needs of the present without compromising the ability of future generations to meet their own needs."
From this evolved the "Bellagio Principles", named after the Rockefeller Foundation's Study and Conference Center in Bellagio, Italy, in November 1986.
These are the principles that were unanimously endorsed.
1. GUIDING VISION AND GOALS
2. HOLISTIC PERSPECTIVE
3. ESSENTIAL ELEMENTS
4. ADEQUATE SCOPE
5. PRACTICAL FOCUS
6. OPENNESS
7. EFFECTIVE COMMUNICATION
8. BROAD PARTICIPATION
9. ONGOING ASSESSMENT
10. INSTITUTIONAL CAPACITY
ABOUT THE KYOTO PROTOCOL
In December 1997, more than 150 nations met in Kyoto, Japan, to negotiate the terms of the Kyoto Protocol, a global climate agreement under the U.N. Framework Convention on Climate Change (UNFCCC). It was open for signature from 16 March 1998 to 15 March 1999 at United Nations Headquarters, New York.
The Kyoto Protocol, is a comprehensive plan with the aim reducing greenhouse gas emissions, in particular carbon dioxide (CO2). The intention is to achieve an ecologically sustainable global balance of greenhouse gas emissions from 2008 onwards
STATUS OF SIGNATORIES and RATIFICATION OF THE CONVENTION
The text of the Convention was adopted at the United Nations Headquarters, New York on the 9 May 1992. It was open for signature at the Rio de Janeiro from 4 to 14 June 1992, and thereafter at the United Nations Headquarters, New York, from 20 June 1992 to 19 June 1993. By that date the Convention had received 166 signatures. The Convention entered into force on 21 March 1994. Those States that have not signed the Convention may accede to it at any time.
EMISSIONS TRADING
Emissions trading is an economic incentive-based alternative to command-and-control regulation. In an "emissions trading program", sources of a particular pollutant (most often an air pollutant) are issued permits to release a specified number of tons of that pollutant. Only a limited number of permits are issued consistent with the desired level of emissions. The owners of the permits may keep them and release the pollutants, or reduce their emissions and sell the permits. The fact that the permits have value as an item to be sold or traded gives the owner an incentive to reduce their emissions.