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The Parties included in Annex I shall, individually
or jointly, ensure that their aggregate anthropogenic carbon
dioxide equivalent emissions of the greenhouse gases listed
in Annex A do not exceed their assigned amounts, calculated
pursuant to their quantified emission limitation and reduction
commitments inscribed in Annex B and in accordance with the
provisions of this Article, with а view to reducing their overall
emissions of such gases by at least 5 per cent below 1990 levels
in the commitment period 2008 to 2012.
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Each Party included in Annex I shall, by 2005, have
made demonstrable progress in achieving its commitments under
this Protocol.
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The net changes in greenhouse gas emissions by sources
and removals by sinks resulting from direct human-induced land-use
change and forestry activities, limited to afforestation, reforestation
and deforestation since 1990, measured as verifiable changes
in carbon stocks in each commitment period, shall be used to
meet the commitments under this Article of each Party included
in Annex I. The greenhouse gas emissions by sources and removals
by sinks associated with those activities shall be reported
in а transparent and verifiable manner and reviewed in accordance
with Articles 7 and 8.
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Prior to the first session of the Conference of the
Parties serving as the meeting of the Parties to this Protocol,
each Party included in Annex I shall provide, for consideration
by the Subsidiary Body for Scientific and Technological Advice,
data to establish its level of carbon stocks in 1990 and to
enable an estimate to be made of its changes in carbon stocks
in subsequent years. The Conference of the Parties serving as
the meeting of the Parties to this Protocol shall, at its first
session or as soon as practicable thereafter, decide upon modalities,
rules and guidelines as to how, and which, additional human-induced
activities related to changes in greenhouse gas emissions by
sources and removals by sinks in the agricultural soils and
the land-use change and forestry categories shall be added to,
or subtracted from, the assigned amounts for Parties included
in Annex I, taking into account uncertainties, transparency
in reporting, verifiability, the methodological work of the
Intergovernmental Panel on Climate Change, the advice provided
by the Subsidiary Body for Scientific and Technological Advice
in accordance with Article 5 and the decisions of the Conference
of the Parties. Such а decision shall apply in the second and
subsequent commitment periods. A Party may choose to apply such
а decision on these additional human-induced activities for
its first commitment period, provided that these activities
have taken place since 1990.
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The Parties included in Annex I undergoing the process
of transition to а market economy whose base year or period
was established pursuant to decision 9/CP.2 of the Conference
of the Parties at its second session shall use that base year
or period for the implementation of their commitments under
this Article. Any other Party included in Annex I undergoing
the process of transition to а market economy which has not
yet submitted its first national communication under Article
12 of the Convention may also notify the Conference of the Parties
serving as the meeting of the Parties to this Protocol that
it intends to use an historical base year or period other than
1990 for the implementation of its commitments under this Article.
The Conference of the Parties serving as the meeting of the
Parties to this Protocol shall decide on the acceptance of such
notification.
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Taking into account Article 4, paragraph 6, of the
Convention, in the implementation of their commitments under
this Protocol other than those under this Article, а certain
degree of flexibility shall be allowed by the Conference of
the Parties serving as the meeting of the Parties to this Protocol
to the Parties included in Annex I undergoing the process of
transition to а market economy.
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In the first quantified emission limitation and reduction
commitment period, from 2008 to 2012, the assigned amount for
each Party included in Annex I shall be equal to the percentage
inscribed for it in Annex B of its aggregate anthropogenic carbon
dioxide equivalent emissions of the greenhouse gases listed
in Annex A in 1990, or the base year or period determined in
accordance with paragraph 5 above, multiplied by five. Those
Parties included in Annex I for whom land-use change and forestry
constituted а net source of greenhouse gas emissions in 1990
shall include in their 1990 emissions base year or period the
aggregate anthropogenic carbon dioxide equivalent emissions
by sources minus removals by sinks in 1990 from land-use change
for the purposes of calculating their assigned amount.
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Any Party included in Annex I may use 1995 as its
base year for hydrofluorocarbons, perfluorocarbons and sulphur
hexafluoride, for the purposes of the calculation referred to
in paragraph 7 above.
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Commitments for subsequent periods for Parties included
in Annex I shall be established in amendments to Annex B to
this Protocol, which shall be adopted in accordance with the
provisions of Article 21, paragraph 7. The Conference of the
Parties serving as the meeting of the Parties to this Protocol
shall initiate the consideration of such commitments at least
seven years before the end of the first commitment period referred
to in paragraph 1 above.
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Any emission reduction units, or any part of an assigned
amount, which а Party acquires from another Party in accordance
with the provisions of Article 6 or of Article 17 shall be added
to the assigned amount for the acquiring Party.
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Any emission reduction units, or any part of an assigned
amount, which а Party transfers to another Party in accordance
with the provisions of Article 6 or of Article 17 shall be subtracted
from the assigned amount for the transferring Party.
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Any certified emission reductions which а Party acquires
from another Party in accordance with the provisions of Article
12 shall be added to the assigned amount for the acquiring Party.
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If the emissions of а Party included in Annex I in
а commitment period are less than its assigned amount under
this Article, this difference shall, on request of that Party,
be added to the assigned amount for that Party for subsequent
commitment periods.
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Each Party included in Annex I shall strive to implement
the commitments mentioned in paragraph 1 above in such а way
as to minimize adverse social, environmental and economic impacts
on developing country Parties, particularly those identified
in Article 4, paragraphs 8 and 9, of the Convention. In line
with relevant decisions of the Conference of the Parties on
the implementation of those paragraphs, the Conference of the
Parties serving as the meeting of the Parties to this Protocol
shall, at its first session, consider what actions are necessary
to minimize the adverse effects of climate change and/or the
impacts of response measures on Parties referred to in those
paragraphs. Among the issues to be considered shall be the establishment
of funding, insurance and transfer of technology.
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